Company: NCNA
Filing Date: 2025-04-04
Form Type: DRS
Source: 0000950123-25-003335
Chunk: 93

Company: NuCana plc
Filing Date: 2025-04-04
Form: DRS
Chunk 93
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 duly
stamped before the expiry of a period of six years beginning with the date of that agreement, (i) any SDRT that has not been paid ceases to be payable, and (ii) any SDRT that has been paid may be recovered from HMRC, generally with
interest.

Issue or Transfer of ADSs/ADRs

Based on current HMRC published practice, no U.K. stamp duty or SDRT should be payable on the issue or transfer of (including an unconditional
agreement to transfer) a depositary receipt and the ADS to which they relate, on the basis that a depositary receipt is not regarded as “stock” or a “marketable security” for U.K. stamp duty purposes and is not considered a
“chargeable security” for the purposes of SDRT.

Warrants/ Pre-FundedWarrants

On the basis of HMRC’s published view on the stamp duty and SDRT implications of warrants (which includes HMRC’s view of
the decision in George Wimpey& Co Ltd v IRC), we would generally not expect the grant, transfer or exercise of the Warrants/Pre Funded Warrants to result in any liability for stamp duty or SDRT provided that, as set
out above, HMRC’s published practice continues to state that a depositary receipt and the ADS to which it relates, is not regarded as “stock” or a “marketable security” for U.K. stamp duty purposes and is not considered a
“chargeable security” for the purposes of SDRT. The stamp tax treatment of warrants, is, however, complex and, as stated above, reference should always be made to specific advice from your tax advisor.

65

Confidential Treatment Requested by Nucana plc Pursuant to 17 C.F.R. Section 200.83 PLAN OF DISTRIBUTION We have engaged Laidlaw & Company (UK) Ltd., or Laidlaw, to act as our exclusive Placement Agent to solicit offers to purchase the securities offered pursuant to this prospectus on a reasonable best efforts basis. The engagement agreement does not give rise to any commitment by the Placement Agent to purchase any of our securities, and the Placement Agent will have no authority to bind us by virtue of the engagement agreement. The Placement Agent is not purchasing or selling any of the securities offered by us under this prospectus, nor is the Placement Agent required to arrange for the purchase or sale of any specific number or dollar amount of securities, other than touse its “