Intec Pharma (NTEC) Announces 1-for-20 Reverse Share Split

Intec Pharma Ltd. (NASDAQ: NTEC) ("Intec" or "the Company") today announces a 1-for-20 reverse share split of its outstanding ordinary shares. The reverse share split is scheduled to become effective after trading closes on October 29, 2020, and the Company's ordinary shares will begin trading on a split-adjusted basis on the Nasdaq Capital Market at the commencement of trading on October 30, 2020 under the Company's existing symbol "NTEC." The Company's ordinary shares have been assigned a new CUSIP number of M53644148 in connection with the reverse share split. As previously disclosed, at the Company's Annual Meeting of Shareholders held on July 15, 2020, the Company's shareholders approved a proposal to amend the Company's Articles of Association to effect a reverse share split of the Company's ordinary shares at a ratio with the range from 1-for-5 to 1-for-25, to be effective at the ratio and on a date to be determined by the Company's board of directors in its sole discretion.

The Company's board of directors has determined to effect the reverse share split at a ratio of 1-for-20. As a result, upon effectiveness of the reverse share split, every 20 shares of the Company's outstanding ordinary shares will be combined into to one ordinary share. In addition, proportionate adjustments will be made to the exercise prices of the Company's outstanding options, warrants and pre-funded warrants and to the number of shares issuable under the Company's existing option plans.

The reverse share split will not affect any shareholder's ownership percentage of the Company's ordinary shares, except to the extent that the reverse share split would result in any shareholder owning a fractional share. Fractional ordinary shares will be rounded up to the nearest whole share. As a result of the reverse share split, the number of outstanding shares will be reduced from approximately 79 million to approximately 3.9 million and the total number of ordinary shares the Company is authorized to issue will change from 350 million ordinary shares to 17.5 million ordinary shares, no par value.

Registered shareholders holding their ordinary shares in book-entry or through a bank, broker or other nominee form do not need to take any action in connection with the reverse share split. For those shareholders holding physical share certificates, the Company's transfer agent, VStock Transfer, LLC, will send instructions for exchanging those certificates for new certificates representing the post-split number of shares. VStock Transfer, LLC can be reached at (212) 828­8436.

Additional information about the reverse share split can be found in the Company's definitive proxy statement filed with the Securities and Exchange Commission on June 8, 2020, a copy of which is also available at www.sec.gov or at https://www.intecpharma.com/ under the SEC Filings tab located on the Investor Relations page.

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