Company: IMCR
Filing Date: 2025-03-17
Form Type: 424B7
Source: 0001140361-25-008917
Chunk: 50

Company: Immunocore Holdings plc
Filing Date: 2025-03-17
Form: 424B7
Chunk 50
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 the notice of tax redemption will expire, unless we default in the payment of the tax redemption price, in which case a holder will be entitled to an increased conversion rate on account of the notice of tax redemption until the close of business on the scheduled trading day immediately preceding the date on which the tax redemption price has been paid or duly provided for.

No notes may be redeemed if the principal amount of the notes has been accelerated, and such acceleration has not been rescinded, on or prior to the tax redemption date (except in the case of an acceleration resulting from a default by us in the payment of the tax redemption price with respect to such notes).

#### Conversion Rights

#### General
Holders may convert all or any portion of their notes at their option at any time prior to the close of business on the maturity date.

Any conversion of notes into ADSs will be subject to certain ownership limitations as more fully described in “—Beneficial Ownership Limitation on Delivery of ADSs Upon Conversion.”

The conversion rate for the notes is initially 10.5601 ADSs, each representing as of the date of this prospectus supplement one ordinary share, per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately $94.70 per ADS). Upon conversion of a note, except in the circumstances described under the caption “—Conversion Share Limitations,” we will satisfy our conversion obligation by delivering ADSs, together with a cash payment in lieu of delivering any fractional ADS, as set forth below under the caption “—Settlement upon Conversion.” The trustee will initially act as the conversion agent.

A holder may convert fewer than all of such holder’s notes so long as the notes converted are an integral multiple of $1,000 principal amount.

In accordance with the deposit agreement, dated as of February 9, 2021 by and among us, Citibank, N.A., as depositary, and the holders and beneficial owners of the ADSs, we will issue to the custodian thereunder such ordinary shares required for the issuance of the ADSs upon conversion of the notes, plus written delivery instructions (if requested by the depositary or the custodian) for such ADSs and any other information or documentation required by the depositary or the custodian in connection with each issue of ordinary shares and issuance and delivery of ADSs.

With respect to any notes that are called (or deemed called) for optional redemption and converted in connection with a notice of optional redemption or any notes converted in connection with a notice of