Business
Further re: Director's Dealing
Further re: Director's Dealing.
About this update from Incanthera Plc
[{"type":"text","content":"\n\n \n20 July 2023\nIncanthera plc\n(\"Incanthera\" or the \"Company\")\nFurther re: Director's Dealing\nOn 13 March 2023, the Company announced that Dr. Simon Ward (CEO of the Company) invested approximately £115,000 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.\n \nThe 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, £25,020 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 £32,000 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.\n \nThe subscription for the 360,000 Investment Shares and the provision of the £32,000 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.\n \nAs 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 shar...