Company: NCNA
Filing Date: 2025-04-29
Form Type: F-1/A
Source: 0001193125-25-103135
Chunk: 72

Company: NuCana plc
Filing Date: 2025-04-29
Form: F-1/A
Chunk 72
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, the number of ADSs to be issued will, at our election,
either be rounded up to the next whole share or we will pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the exercise price.

Trading Market

There is no established
trading market for the Series A Warrants, and we do not expect an active trading market to develop. We do not intend to apply to list the Series A Warrants on any securities exchange or other trading market. Without a trading market, the liquidity
of the Series A Warrants will be extremely limited.

50

Rights as an ADS Holder

Except as otherwise provided in the Series A Warrants or by virtue of such holder’s ownership of our ordinary shares, the holder of a
Series A Warrant does not have the rights or privileges of a holder of our ordinary shares, including any voting rights.

Waivers and Amendments

The Series A Warrants may be modified or amended, or the provisions thereof waived with the written consent of us and the respective
holder.

Series B Warrants

The
following summary of certain terms and provisions of the Series B Warrants that are being offered hereby is not complete and is subject to, and qualified in its entirety by, the provisions of the Series B Warrant, the form of which will be filed as
an exhibit to the registration statement of which this prospectus forms a part. Prospective investors should carefully review the terms and provisions of the form of Series B Warrant for a complete description of the terms and conditions of the
Series B Warrants.

The following is a brief summary of the Series B Warrants and is still subject in all respects to the provisions
contained in the form of Series B Warrants.

Duration and Exercise Price

Each Series B Warrant will have an exercise price equal to 250% of the combined public offering price, will become exercisable on the date of
issuance and will expire on the two and one-half (2.5)-year anniversary of the date of issuance. The exercise price and number of ADSs issuable upon exercise is subject to appropriate adjustment in the event
of share dividends, share splits, reorganizations or similar events affecting our ordinary shares and the exercise price. The Series B Warrants will be issued separately from the ADSs and may be transferred separately immediately thereafter.

Exercisability

The Series B
Warrants will be exercisable, at the option of each holder, in whole or in part, by delivering to us