Company: IMCR
Filing Date: 2025-03-17
Form Type: 424B7
Source: 0001140361-25-008917
Chunk: 53

Company: Immunocore Holdings plc
Filing Date: 2025-03-17
Form: 424B7
Chunk 53
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 terminate at the close of business on the business day immediately preceding the relevant fundamental change repurchase date.

**Beneficial Ownership Limitation on Delivery of ADSs upon Conversion**

Notwithstanding anything herein to the contrary, a holder shall not have the right to convert all or any portion of the notes held by such holder, and a holder shall not be entitled to receive any ADSs otherwise deliverable upon conversion of the notes, to the extent that immediately prior to, or immediately after giving effect to such conversion by such holder (together with its affiliates and any other persons acting as a group together with such holder or any of such holder’s affiliates (such persons, collectively, the “Attribution Parties”)), such holder would beneficially own our ordinary shares in excess of the “Beneficial Ownership Limitation” (as such term is defined below), and giving effect to any increase or decrease with respect to such holder as therein provided). For purposes of the foregoing sentence, the number of ordinary shares beneficially owned by a holder and its affiliates and Attribution Parties shall not include the number of ordinary shares and ADSs that would be deliverable upon (i) conversion of the non-converted portion of the notes beneficially owned by such holder or any of its affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or unconverted portion of any of our other securities, in each case, to the extent subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by such holder or any of its affiliates or Attribution Parties. Except as set forth in the preceding sentence, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), it being acknowledged by each holder that we are not representing to such holder that such calculation is in compliance with Section 13(d) of the Exchange Act and that such holder is solely responsible for any schedules required to be filed in accordance therewith. A determination as to any “group” status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes hereof, in determining the number of outstanding ordinary shares and ADSs, a holder may rely on the number of outstanding ordinary shares and ADSs as reflected in (i) our most recent periodic or annual report filed with the Securities and Exchange Commission, as the case may be, (ii) a more recent public announcement by us or (iii