TIDMINC
RNS Number : 5851G
Incanthera PLC
20 July 2023
20 July 2023
Incanthera plc
("Incanthera" or the "Company")
Further re: Director's Dealing
On 13 March 2023, the Company announced that Dr. Simon Ward (CEO
of the Company) invested approximately GBP115,000 by way of a
subscription for 1,654,677 new ordinary shares at an issue price of
6.95 pence per share (the "Investment Shares"). The Company
subsequently announced, on 30 March 2023, that, as a result of
administrative reasons on the part of Dr. Ward's pension provider's
platform, the investment was delayed and the admission of the
Investment Shares postponed until such time as the funds are
received.
The Company advises that Dr. Ward has, as a consequence, changed
his pension provider and sought to subscribe for the Investment
Shares. However, due to ongoing administrative restrictions on the
quantum of the investment Dr. Ward is able to make from his SIPP,
he remains unable to invest the intended amount. He has, therefore,
invested from his SIPP, GBP25,020 by way of a subscription for
360,000 new ordinary shares at a price of 6.95 pence per share
("Subscription") and has provided an unsecured loan of GBP32,000
pursuant to the unsecured financing facility ("Directors' Loan
Facility") made available to the Company by Directors Dr. Simon
Ward and Tim McCarthy on 24 August 2022. Notwithstanding Dr. Ward's
restriction on investing through his pension fund, the Directors
have and will continue to provide financial support to the
Company.
The subscription for the 360,000 Investment Shares and the
provision of the GBP32,000 pursuant to the Directors' Loan Facility
by Dr. Simon Ward each constitutes a related party transaction
pursuant to Rule 4.6 of the AQSE Growth Market Access Rulebook
("the Transactions"). The Directors of the Company independent of
the Transactions confirm that, having exercised reasonable care,
skill and diligence, the related party transactions are fair and
reasonable insofar as the shareholders of Incanthera are
concerned.
As a result of the Subscription funds being received,
application for admission of 360,000 new ordinary shares
("Subscription Shares") to the AQSE Growth market ("Admission") has
been made and is expected to occur on or around 08:00 a.m. on 25
July 2023. The Subscription Shares will rank pari passu with the
existing ordinary shares.
Following Admission of the Subscription Shares, the Company's
enlarged issued share capital will comprise 77,824,166 ordinary
shares of 2 pence each. This figure may be used by shareholders in
the Company as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change in the interest in, the share capital of the Company under
the FCA's Disclosure and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 (which forms part of
domestic UK law pursuant to the European Union (Withdrawal) Act
2018).
For further enquiries:
Incanthera plc:
www.incanthera.com
Tim McCarthy, Chairman tim.mccarthy@incanthera.com +44 (0) 7831
675747
Simon Ward, Chief Executive Officer simon.ward@incanthera.com
+44 (0) 7747 625506
Suzanne Brocks, Head of Communications
suzanne.brocks@incanthera.com +44 (0) 7776 234600
Aquis Exchange Corporate Adviser:
Cairn Financial Advisers LLP
+44 (0) 20 7213 0880
Jo Turner/Ludovico Lazzaretti
Broker:
Stanford Capital Partners Ltd
Patrick Claridge/Tom Price/John Howes/Bob Pountney +44 (0) 20
3650 3650
Notes to Editors
Incanthera is dedicated to innovative technologies in
dermatology and oncology. It seeks to identify and commercialise
inspirational therapeutics combined with uniquely targeted delivery
systems, for innovative solutions to clinical, commercially
relevant unmet needs.
The Company's current lead product and focus is Sol, a
potentially innovative topical product for the treatment of solar
keratosis and the prevention of skin cancers. The Company is
currently focussed upon delivering Sol to a commercial partner.
Originating from the Institute of Cancer Therapeutics ("ICT") at
the University of Bradford, the Company has acquired and developed
a portfolio of specific cancer-targeting therapeutics, with a
strategy to develop each candidate from initial
acquisition/discovery to commercially valuable partnerships at the
earliest opportunity in its development pathway.
For more information on the Company please visit:
www.incanthera.com
@incantheraplc
Details of the persons discharging managerial responsibilities
1 / person closely associated
a) Name Simon Ward
-------------------------------- ---------------------------------
Reason for the notification
2
-------------------------------------------------------------------
a) Position/Status CEO
-------------------------------- ---------------------------------
b) Initial notification/ Amendment
Amendment
-------------------------------- ---------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Incanthera plc
-------------------------------- ---------------------------------
b) LEI 2138002HEV4UFBOEXQ97
-------------------------------- ---------------------------------
Details of the transaction(s): section to be repeated
4 for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------
a) Description of
the financial
instrument, type Ordinary Shares
of
instrument GB00BGL7YW15
Identification
code
-------------------------------- ---------------------------------
b) Nature of the transaction Acquisition of ordinary shares
-------------------------------- ---------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.0695 360,000
----------
-------------------------------- ---------------------------------
d) Aggregated information
* Aggregated volume 360,000
GBP0.0695
* Price
-------------------------------- ---------------------------------
e) Date of transaction 19 July 2023
-------------------------------- ---------------------------------
f) Place of transaction AQSE Stock Exchange, London
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END
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July 20, 2023 02:00 ET (06:00 GMT)
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