Company: NCNA
Filing Date: 2025-04-04
Form Type: DRS
Source: 0000950123-25-003335
Chunk: 61

Company: NuCana plc
Filing Date: 2025-04-04
Form: DRS
Chunk 61
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 or similar events affecting our
ordinary shares and the exercise price. The Series A Warrants will be issued separately from the ADSs and may be transferred separately immediately thereafter.

Exercisability

The Series A Warrants
will be exercisable, at the option of each holder, in whole or in part, by delivering to us a duly executed exercise notice accompanied by payment in full for the number of ADSs purchased upon such exercise (except in the case of a cashless exercise
as discussed below). Generally, a holder (together with its affiliates) may not exercise any portion of such holder’s Series A Warrants to the extent that the holder would own more than 4.99% of the outstanding ordinary shares (or at the
election of a holder prior to the date of issuance, 9.99%) immediately after exercise, except that upon at least 61 days’ prior notice from the holder to us, the holder may increase the amount of ownership of outstanding ordinary shares after
exercising the holder’s Series A 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 (as defined in the Series A Warrants) 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