Company: IMCR
Filing Date: 2025-03-17
Form Type: 424B7
Source: 0001140361-25-008917
Chunk: 59

Company: Immunocore Holdings plc
Filing Date: 2025-03-17
Form: 424B7
Chunk 59
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 For the avoidance of doubt, (a) if any event described below results in a change to the number of ordinary shares represented by the ADSs, then such a change will be deemed to satisfy our obligation to effect the relevant conversion rate adjustment on account of such an event to the extent such change reflects what a corresponding change to the conversion rate would have been on account of such event; and (b) in determining whether the conversion rate adjustment provisions set forth in clauses (1) through (5) below shall apply in respect of any event or transaction, such provisions shall be interpreted to include substantially similar constructs applicable to an English public limited company. Subject to the foregoing, the conversion rate will be adjusted as described below, except that we will not make any adjustments to the conversion rate if holders of the notes participate (other than in the case of (x) a share split or share combination or (y) a tender or exchange offer), at the same time and upon the same terms as holders of our ADSs and solely as a result of holding the notes, in any of the transactions described below without having to convert their notes as if they held a number of ADSs equal to the conversion rate, multiplied bythe principal amount (expressed in thousands) of notes held by such holder.

| (1) | If we exclusively issue ordinary shares as a dividend or distribution on the ordinary shares, if we issue any ordinary shares credited as fully paid by way of capitalization of profits or reserves (including any share premium account or capital redemption reserve), or if we effect a share split or share combination, the conversion rate will be adjusted based on the following formula: |

| CR1= CR0× |     |     | OS1 |
|           | OS0 |     |     |

where, CR 0= the conversion rate in effect immediately prior to the open of business on the ex-dividend date of such dividend or distribution, or immediately prior to the open of business on the effective date of such share split or share combination, as applicable; CR 1= the conversion rate in effect immediately after the open of business on such ex-dividend date or effective date; OS 0= the number of ordinary shares outstanding immediately prior to the open of business on such ex-dividend date or effective date (before giving effect to any such dividend, distribution, split or combination); and OS 1= the number of ordinary shares outstanding immediately after giving effect to such dividend, distribution, share split or share combination. Any adjustment made under this