Company: NCNA
Filing Date: 2025-04-24
Form Type: F-1
Source: 0001193125-25-092131
Chunk: 21

Company: NuCana plc
Filing Date: 2025-04-24
Form: F-1
Chunk 21
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 this offering.

There is no established public trading market for the Pre-Funded Warrants, Series A Warrants or Series B Warrants being offered in this offering, and we do not expect a market to develop. In addition, we do not intend to apply to list the
Pre-Funded Warrants, Series A Warrants or Series B Warrants on any securities exchange or nationally recognized trading system, including The Nasdaq Capital Market. Without an active market, the liquidity of
the Pre-Funded Warrants, Series A Warrants and Series B Warrants will be limited.

Holders of Pre-FundedWarrants, Series A Warrants and Series B Warrants purchased in this offering will have no rights as ADS holders until such holders exercise such Pre-FundedWarrants and Warrants and acquire our ADSs.

Until holders of Pre-Funded Warrants, Series A Warrants
and Series B Warrants acquire ADSs upon exercise of such Pre-Funded Warrants and Warrants, holders of Pre-Funded Warrants, Series A Warrants and Series B Warrants will
have no rights with respect to the ADSs underlying such Pre-Funded Warrants and Warrants. Upon exercise of the Pre-Funded Warrants, Series A Warrants and Series B
Warrants, as applicable,

the holders will be entitled to exercise the rights of an ADS holder only as to matters for which the record date occurs after
the exercise date.

9

The Pre-FundedWarrants, Series A Warrants and Series B Warrants are speculative in nature.

The Pre-Funded Warrants, Series A Warrants and Series
B Warrants do not confer any rights of ADS ownership on their respective holders, such as voting rights or the right to receive dividends, but rather merely represent the right to acquire ADSs at a fixed price.

Purchasers who purchase our securities in this offering pursuant to a securities purchase agreement may have rights not available to purchasers that purchase without the benefit of a securities purchase agreement.

In addition to rights and remedies available to all purchasers in
this offering under federal securities law and state law, the purchasers that enter into a securities purchase agreement will also be able to bring claims of breach of contract against us. The ability to pursue a claim for breach of contract
provides those investors with the means to enforce the covenants uniquely available to them under the securities purchase agreement including, but not limited to: (i) timely delivery of securities; (ii) agreement to not enter into variable
rate financings for