Company: IMCR
Filing Date: 2025-03-17
Form Type: 424B7
Source: 0001140361-25-008917
Chunk: 74

Company: Immunocore Holdings plc
Filing Date: 2025-03-17
Form: 424B7
Chunk 74
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 Upon surrender of notes for conversion in connection with a make-whole fundamental change or a notice of optional redemption or a notice of tax redemption, we will cause to be delivered ADSs, including the additional ADSs, as described under the caption “—Conversion Rights—Settlement upon Conversion,” or cash to the extent provided under the caption “—Conversion Rights—Conversion Share Limitations”. However, if the consideration for the ADSs in any make-whole fundamental change described in clause (2) of the definition of fundamental change is composed entirely of cash, for any conversion of notes following the effective date of such make-whole fundamental change, the conversion obligation will be calculated based solely on the “ADS price” (as defined below) for the transaction and will be deemed to be an amount of cash per $1,000 principal amount of converted notes equal to the conversion rate (including any increase to reflect the additional ADSs as described in this section), multiplied bysuch ADS price. In such event, the conversion obligation will be determined and paid to holders in cash on the fifth business day following the conversion date. We will notify holders, the trustee and the conversion agent (if other than the trustee) of the effective date of any make-whole fundamental change no later than five business days after such effective date. The number of additional ADS, if any, by which the conversion rate will be increased will be determined by reference to the table below, based on the date on which the make-whole fundamental change occurs or becomes effective, or the date we deliver the notice of optional redemption or the notice of tax redemption, as the case may be (in each case, the “effective date”), and the price (the “ADS price”) paid (or deemed to be paid) per ADS in the make-whole fundamental change or determined with respect to the notice of optional redemption or the notice of tax redemption, as the case may be. If the holders of ADSs receive in exchange for their ADS only cash in a make-whole fundamental change described in clause (2) of the definition of fundamental change, the ADS price will be the cash amount paid per ADS. Otherwise, the ADS price will be the average of the last reported sale prices of the ADSs over the five consecutive trading day period ending on, and including, the trading day immediately preceding the effective date. If a conversion in connection with a notice of optional redemption or notice of tax redemption, as the case may be, would also be deemed to be in connection with a make-whole fundamental