Exercise of Broker Option

e-therapeutics plc (AIM: ETX.L, "e-therapeutics'" or "the Company"), announces that further to the Fundraise announced on 7 July 2020, Numis Securities Limited has exercised the Broker Option in respect of 11,204,165 new Ordinary Shares (the "Broker Option Shares"), raising gross proceeds of approximately £1.34 million for the Company.

The Broker Option Shares are being issued at a price of 12p per share (being the Placing Price) and will be issued on the same terms and conditions as the Firm Placing Shares pursuant to the Placing.

Application will be made to the London Stock Exchange for the 11,204,165 Broker Option Shares to be admitted to trading on AIM. Admission of the Broker Option Shares to trading on AIM is expected to take place at 8.00am on 17 July 2020.

Following the exercise of the Broker Option in respect of 11,204,165 Broker Option Shares, there remains a total of up to 9,629,168 new Ordinary Shares still to be exercised under the Broker Option ahead of the option period ending at 4:45 p.m. on 21 July 2020.

The Company has received advance assurance from Her Majesty's Revenue and Customs ("HMRC") confirming that HMRC believes that it will be able to authorise the Company to issue compliance certificates under Section 204(1) of the Income Tax Act 2007 in respect of certain of the New Ordinary Shares.  The Company has not received any advance assurance as regards Venture Capital Trusts, i.e. whether the New Ordinary Shares would be regarded by HMRC as an issue of "eligible shares" (for the purposes of s. 258(2)(a) ITA) or a "qualifying holding" (in accordance with Chapter 4 of Part 6 ITA). Although the Company currently expects to satisfy the relevant conditions for the Enterprise Investment Scheme ("EIS") in respect of the 11,204,165 Broker Option Shares, neither the Directors nor the Company nor the Company's advisers gives any warranty, representation or undertaking that relief will be available in respect of any investment in the Company, nor do they warrant, represent or undertake that the Company will conduct its activities in a way that qualifies for or preserves its status. Investors considering making a qualifying EIS investment are recommended to seek their own professional advice in order that they may understand how the relief legislation may apply in their individual circumstances.

Following the admission of the Firm Placing Shares, Subscription Shares, Retail Shares and the 11,204,165 Broker Option Shares, the Company will have a total of 416,149,611 Ordinary Shares in issue.

Capitalised terms used in this announcement have the meanings given to them in the announcement of the Fundraise dated 7 July 2020.