Company: NCNA
Filing Date: 2025-04-04
Form Type: DRS
Source: 0000950123-25-003335
Chunk: 64

Company: NuCana plc
Filing Date: 2025-04-04
Form: DRS
Chunk 64
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 become exercisable on the date of issuance and will expire on the two and one-half (2.5)-year anniversary of the date of issuance.
The exercise price and number of ADSs issuable upon exercise is subject to appropriate adjustment in the event of share dividends, share splits, reorganizations or similar events affecting our ordinary shares and the exercise price. The Series B
Warrants will be issued separately from the ADSs and may be transferred separately immediately thereafter.

Exercisability

The Series B 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 B 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 B Warrants up to 9.99% of the number of shares of our ordinary shares outstanding
immediately after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of the Series B Warrants.

Cashless Exercise & an Alternative Cashless Exercise

If, at the time a holder exercises its Series B Warrants, a registration statement registering the issuance of the ADSs underlying the Series B
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 B 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 B Warrant.

Holders may also effect an “alternative cashless exercise” at any time while the Series B Warrants are
outstanding following the 11th trading day following the date of issuance. Under the alternative cashless exercise option, subject to the mandatory nominal exercise price (as defined in the Series