Company: IMCR
Filing Date: 2025-03-17
Form Type: 424B7
Source: 0001140361-25-008917
Chunk: 64

Company: Immunocore Holdings plc
Filing Date: 2025-03-17
Form: 424B7
Chunk 64
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 replaced with such lesser number of trading days as have elapsed from, and including, the ex-dividend date for such spin-off to, and including, such trading day in determining the conversion rate as of such trading day of such observation period. If any dividend or distribution that constitutes a spin-off is declared but not so paid or made, the conversion rate shall be immediately decreased, effective as of the date our board of directors or a committee thereof determines not to pay or make such dividend or distribution, to the conversion rate that would then be in effect if such dividend or distribution had not been declared or announced.

S-36

TABLE OF CONTENTS

| (4) | If we make or pay any cash dividend or distribution to all or substantially all holders of the ordinary shares (directly or in the form of ADSs), the conversion rate will be adjusted based on the following formula: |

| CR1= CR0× |        |     | SP0 |
|           | SP0− C |     |     |

where, CR 0= the conversion rate in effect immediately prior to the open of business on the ex-dividend date for the ADSs for such dividend or distribution; CR 1= the conversion rate in effect immediately after the open of business on such ex-dividend date; SP 0= the last reported sale price of the ADSs ( divided bythe number of ordinary shares then represented by one ADS) on the trading day immediately preceding the ex-dividend date for such dividend or distribution; and C = the amount in cash per ordinary share we distribute to all or substantially all holders of our ordinary shares (directly or in the form of ADSs). References in this clause (4) to making or paying a cash dividend shall include (x) a scrip dividend which shall be treated as a cash amount equal to the highest aggregate value of the property subject to an election and (y) any payment to holders of ordinary shares upon or in connection with a reduction of capital. Any increase made under this clause (4) shall become effective immediately after the open of business on the ex-dividend date for the ADSs for such dividend or distribution. If such dividend or distribution is not so paid, the conversion rate shall be decreased, effective as of the date our board of directors or a committee thereof determines not to make or pay such dividend or distribution, to be the conversion rate that would then be in effect if such dividend or distribution had not been declared. Notwithstanding the foregoing, if “C” (