Company: IMCR
Filing Date: 2025-03-17
Form Type: 424B7
Source: 0001140361-25-008917
Chunk: 65

Company: Immunocore Holdings plc
Filing Date: 2025-03-17
Form: 424B7
Chunk 65
---
as defined above) is equal to or greater than “SP 0” (as defined above), in lieu of the foregoing increase, each holder of a note shall receive, for each $1,000 principal amount of notes it holds, at the same time and upon the same terms as holders of shares of the ADSs, the amount of cash that such holder would have received if such holder owned a number of ADSs equal to the conversion rate on the ex-dividend date for the ADSs for such cash dividend or distribution.

| (5) | If we or any of our subsidiaries make a payment in respect of a tender or exchange offer for the ordinary shares (directly or in the form of ADSs) that is subject to the then-applicable tender offer rules under the Exchange Act (other than any odd lot tender offer), to the extent that the cash and value of any other consideration included in the payment per ordinary share exceeds the average of the last reported sale prices of the ADSs (divided bythe number of ordinary shares then represented by one ADS) over the 10 consecutive trading day period commencing on, and including, the trading day next succeeding the last date on which tenders or exchanges may be made pursuant to such tender or exchange offer, the conversion rate will be increased based on the following formula: |

| CR1= CR0× |          |     | AC + (SP1× OS1) |
|           | OS0× SP1 |     |                 |

where, CR 0= the conversion rate in effect immediately prior to the close of business on the 10th trading day immediately following, and including, the trading day next succeeding the date such tender or exchange offer expires; CR 1= the conversion rate in effect immediately after the close of business on the 10th trading day immediately following, and including, the trading day next succeeding the date such tender or exchange offer expires; AC = the aggregate value of all cash and any other consideration (as determined by us in good faith) paid or payable for ordinary shares or ADSs, as the case may be, purchased in such tender or exchange offer;

S-37

#### TABLE OF CONTENTS
OS 0 =

the number of ordinary shares outstanding immediately prior to the date such tender or exchange offer expires (prior to giving effect to the purchase of all ordinary shares or ADSs, as the case may be, accepted for purchase or exchange in such tender or exchange offer);

OS 1 =

the number of ordinary shares