Company: NCNA
Filing Date: 2025-04-29
Form Type: F-1/A
Source: 0001193125-25-103135
Chunk: 70

Company: NuCana plc
Filing Date: 2025-04-29
Form: F-1/A
Chunk 70
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 Warrants up to 9.99% of the number of ordinary shares outstanding immediately after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of the Series A
Warrants.

Cashless Exercise

If, at
the time a holder exercises its Series A Warrants, a registration statement registering the issuance of the ADSs underlying the Series A Warrants under the Securities Act is not then effective or available for the issuance of such shares, then in
lieu of making the cash payment otherwise contemplated to be made to us upon such exercise in payment of the aggregate exercise price, subject to the Mandatory Nominal Exercise Price, the holder may elect instead to receive upon such exercise
(either in whole or in part) the net number of ADSs determined according to a formula set forth in the Series A Warrant.

Fundamental Transactions

In the event we consummate a merger or consolidation with or into another person or other reorganization event in which our ordinary
shares are converted or exchanged for securities, cash or other property, or we sell, lease, license, assign, transfer, convey or otherwise dispose of all or substantially all of our assets or we or another person acquire 50% or more of our
outstanding ordinary shares, then following such event, the holders of the Series A Warrants will be entitled to receive upon exercise of the Series A Warrants the same kind and amount of securities, cash or property which the holders would have
received had they exercised the Series A Warrants immediately prior to such fundamental transaction. Any successor to us or surviving entity shall

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assume the obligations under the Series A Warrants. Additionally, as more fully described in the Series A Warrants, in the event of certain fundamental transactions, the holders of the Series A
Warrants will be entitled to receive consideration in an amount equal to the Black Scholes value of such Series A Warrants on the date of consummation of such transaction.

Exercise Price Adjustments

If at any
time on or after the date of issuance there occurs any share split, share dividend, share combination recapitalization or other similar transaction involving our ordinary shares and the lowest daily volume weighted average price during the period
commencing five consecutive trading days immediately preceding and the five consecutive trading days commencing on the date of such event is less than the exercise price of the Series A Warrants then in effect, then the exercise price of the Series
A Warrants will be reduced to the lowest daily volume weighted average price during such