Company: IMCR
Filing Date: 2025-03-17
Form Type: 424B7
Source: 0001140361-25-008917
Chunk: 63

Company: Immunocore Holdings plc
Filing Date: 2025-03-17
Form: 424B7
Chunk 63
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 of ADSs equal to the conversion rate in effect on the ex-dividend date for the ADSs for the distribution. With respect to an adjustment pursuant to this clause (3) where there has been a payment of a dividend or other distribution on the ordinary shares (directly or in the form of ADSs) of any class or series, or similar equity interest, of or relating to a subsidiary or other business unit, that are, or, when issued, will be, listed or admitted for trading on a U.S. national securities exchange, which we refer to as a “spin-off,” the conversion rate will be increased based on the following formula:

| CR1= CR0× |     |     | FMV0+ MP0 |
|           | MP0 |     |           |

where, CR 0= the conversion rate in effect immediately prior to the end of the valuation period (as defined below); CR 1= the conversion rate in effect immediately after the end of the valuation period; FMV 0= the average of the last reported sale prices of the shares or similar equity interest distributed to holders of the ordinary shares (directly or in the form of ADSs) applicable to one ordinary share (determined by reference to the definition of last reported sale price set forth under the caption “—Optional Redemption” as if references therein to the ADSs were to such shares or similar equity interest) over the first 10 consecutive trading day period after, and including, the ex-dividend date of the spin-off (the “valuation period”); and MP 0= the average of the last reported sale prices of the ADSs ( divided bythe number of ordinary shares then represented by one ADS) over the valuation period. The increase to the conversion rate under the preceding paragraph will occur at the close of business on the last trading day of the valuation period; providedthat in respect of any conversion of notes during the valuation period, the reference to “10” in the preceding paragraph shall be deemed 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 conversion date in determining the conversion rate; provided, furtherthat in respect of any conversion of notes subject to the provisions under the caption “—Conversion Rights—Conversion Share Limitations” are applicable, for any trading day that falls within the relevant observation period for such conversion and within the valuation period, the reference to “10” in the preceding paragraph shall be deemed