Company: IMCR
Filing Date: 2025-03-17
Form Type: 424B7
Source: 0001140361-25-008917
Chunk: 54

Company: Immunocore Holdings plc
Filing Date: 2025-03-17
Form: 424B7
Chunk 54
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) a more recent written notice by us setting forth the number of ordinary shares and ADSs outstanding. Upon the written request of a holder, we shall, within one trading day, confirm orally and in writing to such holder the number of our ordinary shares and ADSs then outstanding. In any case, the number of outstanding ordinary shares and ADSs shall be determined after giving effect to the conversion or exercise of our securities by such holder or its affiliates or Attribution Parties since the date as of which such number of outstanding ordinary shares and ADSs was last publicly reported or confirmed to the holder.

The “Beneficial Ownership Limitation” is initially 9.99% of the number of ordinary shares (including ordinary shares represented by ADSs) outstanding immediately prior to, and immediately after giving effect to, the conversion of all or any portion of the notes. A holder, upon written notice to us, may increase or decrease the Beneficial Ownership Limitation provisions herein applicable to such holder (but not as to any other holder), provided that the Beneficial Ownership Limitation in no event exceeds 19.99% of the number of ordinary shares (including ordinary shares represented by ADSs) outstanding immediately prior to, and immediately after giving effect to, the conversion of all or any portion of the notes. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to us.

The trustee shall have no obligation to monitor the Beneficial Ownership Limitation or any holder’s compliance with the foregoing.

<div align='center'>S-31</div>

#### TABLE OF CONTENTS

#### Settlement upon Conversion
Upon conversion, except in the circumstances described under the caption “—Conversion Share Limitations,” we will, in respect of each $1,000 principal amount of notes being converted, cause to be delivered to such converting holders a number of ADSs equal to the conversion rate and pay cash in lieu of any fractional ADS deliverable upon conversion based on the last reported sale price of the ADSs on the relevant conversion date.

Except as described under the captions “—Increase in Conversion Rate upon Conversion upon a Make-Whole Fundamental Change, Notice of Optional Redemption or Notice of Tax Redemption,” “—Recapitalizations, Reclassifications and Changes of Our Ordinary Shares” and “—Conversion Share Limitations,” we will deliver the consideration due in respect of conversion on the third business day immediately following the relevant conversion date; provided that, with respect to any conversion date following the regular record date immediately preceding (x