Incanthera PLC Further re: Exercise of Warrants

RNS Number : 8802K

Incanthera PLC

17 April 2024

 

 

 

                                                                                17 April 2024

 

Incanthera plc

("Incanthera" the "Company")

Further re: Exercise of Warrants

 

Incanthera plc (AQSE:INC), the company specially focussed on innovative technologies in dermatology and oncology, announces, it has received further warrant exercise notices over 5,166,667 new ordinary shares in the Company, at an exercise price of 10 pence per share (the "Warrant Shares"), providing the Company with gross proceeds of £516,666.70. The Company has also received notice of further warrant exercises over 258,333 new ordinary shares ("Further Warrant Shares") with aggregate subscription proceeds of £25,833.30 which are expected to be received shortly.

 

Following the completion of the warrant exercises noted above and, in conjunction with the warrant exercise announced on 9 April 2024, the Company has received total warrant exercises notices over 7,166,667 new ordinary shares in the Company providing it with gross proceeds of £716,667.

 

Admission

Application has been made for the Warrant Shares to be admitted to trading on the Aquis Stock Exchange Growth Market on or around 19 April 2024 ("Admission") and will rank pari passu with the ordinary shares of the Company in issue.

Application for the Admission of the Further Warrant Shares will be made following the receipt of cleared funds. The Company will update the market in due course.

 

Total Voting Rights

Following Admission, the Company's issued share capital will comprise 99,018,214 ordinary shares of 2 pence each, with each share carrying the right to one vote, therefore the total number of voting rights in the Company will be 99,018,214 . This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in the Company, or a change to their interest in the Company, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

 

Commenting on the conclusion of the Warrants Exercise, Chairman, Tim McCarthy said:

 

"We are delighted with the positive response of the warrant exercise.

"These warrants were originally issued as part of a fund raising in 2021, and this strong take up demonstrates the confidence shown by many long-standing loyal shareholders in the Company's future prospects and the management's strategy. This further strengthens the Company's cash position as we prepare for the launch of our luxury skincare range Skin + CELL.

 

"We look forward to providing further updates as our progression continues."

 

The Directors of Incanthera are responsible for the contents of this announcement.

 

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 information please contact:

 

 

Incanthera plc www.incanthera.com   Tim McCarthy, Chairman [e-mail]   Simon Ward, Chief Executive Officer [e-mail]   Suzanne Brocks, Head of Communications [e-mail]	[phone]     [phone]     [phone]
Aquis Exchange Corporate Adviser:  Cairn Financial Advisers LLP Jo Turner / Liam Murray / Ed Downes	[phone]
Broker:  Stanford Capital Partners Ltd Patrick Claridge / Bob Pountney	[phone]/51

 

                      

Notes to Editors

 

About Incanthera plc

 

Incanthera is a specialist company focused on innovative technologies in dermatology and oncology. It seeks to identify and develop innovative solutions to current clinical, commercially relevant unmet needs, utilising new technology from leading specialists and academic institutions as well as its in-house development team.

 

The Company originated from the Institute of Cancer Therapeutics ("ICT") at the University of Bradford.  Incanthera's strategy is to develop each candidate in its portfolio from initial acquisition or discovery to securing its future through commercially valuable partnerships at the earliest opportunity in its development pathway.

                                                                                                               

For more information on the Company please visit: www.incanthera.com

 

@incantheraplc

 

About Skin + CELL

 

Skin + CELL is Incanthera's luxury skincare brand utilising our ground-breaking formulation and delivery expertise, to bring scientifically proven formulations to cosmetics. Skin + CELL's unique formulations, enriched with targeted bioactive B3 (an activated form of niacinamide) are delivered directly into the skin's cells to optimise and protect cellular health, energy and protective capabilities.

 

Incanthera's skincare technology harnesses unique delivery pathways through recently patented formulations designed by our in-house experts who have previously formulated skincare for some of the world's leading skincare and pharmaceutical companies. These formulations fortify otherwise depleted physiological pathways to improve the skin's performance, ability to self-repair and to address previously unmet cosmetic conditions in skin health.

 

•     Skin + CELL's unique formulations, currently enriched with targeted bioactive B3 (an activated form of niacinamide) but anticipating further bioactive ingredient formulations are delivered directly into the skin's cells to optimise cellular health, energy and protective capabilities.

•     Independent studies have shown Incanthera's technology is uniquely effective in delivering Bioactive B3 below the dermal barrier, energising the living cells of the skin to maintain natural health and protection against adverse environmental challenges and maintaining even skin tones.

•     Skin + CELL's complementary range of products are based on advanced, clinically designed, formulation concentrates which combine leading edge pharmaceutical enhancement technology with selected prestige cosmetic ingredients to give an effective product which gives a silky emollience in use and leaves the skin visibly radiant, energised and protected.

Skin + CELL's luxury skincare current range extends across face, body, hand, face serum and eye serum, and will also include SPF concentrations and further bioactive derivatives of vitamins in the future.

About Marionnaud

 

Marionnaud is the largest luxury perfumery and cosmetics chain in Europe with over 1,220 stores and a 27% market share in France.  Marionnaud is managed by the AS Watson Group based in Hong Kong, the world's largest international health and beauty retailer.

 

https://www.marionnaud.com

 

About A.S. Watson

 

The A.S. Watson Group is the world's largest international health and beauty retailer, with 16,100 stores in 28 markets, primarily in Asia and Europe. A member of CK Hutchison Holdings, A.S. Watson operates the world's largest portfolio of retail formats, retail brands and has the largest geographical presence including a significant online retail presence.

 

http://www.aswatson.com/

https://youtu.be/IZ6TolZi4Go 

 

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