10 June 2024

                                                                                       Incanthera plc                                              

("Incanthera" the "Company")

Appointment of Non-Executive Director

Admission to Apex segment of the AQSE Growth Market

Incanthera plc (AQSE: INC), the specialist company focused on innovative technologies in oncology and dermatology, is pleased to announce the appointment of John Howes as an Independent Non-executive Director with immediate effect and, that following this appointment, the Company's shares will commence trading on the Apex segment of the AQSE Growth Market.

Director Appointment

With more than 43 years in the UK equity capital markets and an established reputation in the small and mid-cap sectors, Mr Howes brings a wealth of knowledge and institutional relationship experience and contacts, holding previous positions as Partner with Matrix Corporate Capital and senior positions at Seymour Pierce, Panmure Gordon, Northland Capital and Stanford Capital.

The Board believes Mr Howes' experience and skillset will be an invaluable asset to the company as it continues to increase its institutional shareholder base and, as it prepares to launch its skincare range Skin + CELL with Marionnaud, part of AS Watsons, the world's largest health, beauty and lifestyle retailer.            

Save as set out below, there is no further information to disclosure  regarding Mr Howes pursuant to Rule 4.9 of the AQSE Growth Market Access Rulebook.

Mr John Michael George Howes (aged 68) has held the following current and former directorships in the past five years:

Mr Howes was appointed as a member of Matrix Corporate Capital LLP on 1 January 2009 and resigned in January 2011. On 17 January 2013 the company entered into a Creditor's Voluntary Liquidation and a liquidator was appointed, however, due to an administrative error, Mr Howes remained listed as an active member on the register of members.

Mr Howes does not hold any shares, or options over new ordinary shares, in the Company.  

Admission to Apex

As a result of appointing Mr Howes as a Director, the Company is pleased to announce that trading in its ordinary shares will move to the Apex segment of the Aquis Stock Exchange ("AQSE") Growth Market with effect from 10 June 2024, subject to the eligibility criteria being met on that date.

The Apex segment is reserved for larger, more established businesses with a proven growth strategy and which meet high standards of corporate governance.  The Apex segment has stricter eligibility criteria than the Access segment which include, inter alia, having:

·    a minimum market capitalisation of £10 million;

·    at least 25% of shares in public hands;

·    a minimum of two Independent Non-executive directors;

·    a minimum of two market makers;

·    a two-year consolidated trading history; and

·    maintaining compliance with the QCA Code or the FRC's UK Corporate Governance Code.

These enhanced criteria encourage greater liquidity within the top tier of the AQSE Growth Market.

Commenting on the anticipated admission of the Company's shares to the Apex segment and the appointment of John Howes, Chairman, Tim McCarthy, said:

"We are delighted to qualify for the top tier of trading on the Aquis Stock Exchange Growth Market.

"This move to the Apex segment is recognition of the commitment of the team to evolve Incanthera into a commercial player on a global stage with the vast opportunities and publicity that brings.

"The commercial ambitions set out at our flotation in 2020 are driven and incentivised by the promise we made to shareholders, whose belief and loyalty across our many long-standing shareholders, more recent holders and our increasing institutional base, particularly in the recent fundraising and warrant exercises, have bought further investment and growth capacity into the Company.

"The move to Apex will provide even further visibility for investors, and we welcome the increased emphasis on transparency liquidity and corporate governance which aligns entirely with our own corporate promise.

"Aquis Exchange has offered tremendous support to Incanthera since our flotation and continues to be proactive in their encouragement and initiatives in promoting our corporate progress.  As an Exchange they have championed growth stocks and a new approach, supported by European investment and incentives to spotlight the enormous potential in UK small cap stocks. We look forward to all that the Apex segment can offer to our institutional and retail investors.

"We are also  delighted to announce the appointment of John as a Non-executive Director and we all very warmly welcome John to the Incanthera Board. 

"John is well known to the Incanthera team, having been previously in an external advisory capacity to the Company for many years including at the time of our flotation on Aquis Stock Exchange in 2020."

Alasdair Haynes, CEO, Aquis Exchange PLC commented:

"We are delighted to see Incanthera move up to the Apex segment of the AQSE Growth Market. It's been fantastic to follow the company's progression so far, and I am proud that Aquis can offer a tailored experience for growth companies that allows for increased exposure to investors at appropriate stages."

John Howes, Non-Executive Director, said:

"I am delighted to be joining the Board of Incanthera and to be able to share my experience as an investment professional and adviser to such an innovative company. Incanthera is at a very exciting stage of its development and I look forward to working with a great team and helping to take the Company forward."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018). 

The Directors of the Company take responsibility for this announcement.

For further information please contact:

Notes to Editors

About Incanthera plc

Incanthera is a specialist company focused on innovative technologies in dermatology and oncology. It seeks to identify and develop innovative solutions to current clinical, commercially relevant unmet needs, utilising new technology from leading specialists and academic institutions as well as its in-house development team.

The Company originated from the Institute of Cancer Therapeutics ("ICT") at the University of Bradford.  Incanthera's strategy is to develop each candidate in its portfolio from initial acquisition or discovery to securing its future through commercially valuable partnerships at the earliest opportunity in its development pathway.

For more information on the Company please visit: www.incanthera.com

@incantheraplc