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Https://www.londonstockexchange.com/news-article/AVO/update-on-financial-results/16147100
It’s not been added on the LSE site yet but I get news alerts from the Stock Exchange. Perhaps it’s on the company website by now.
Can't see an RNS!
Ooh, news. Still working on Recap Plan incl bridging finance, more news to come early October. There’s life in the old dog yet!
I don't see any significance in the low value of the transaction. I feel that It's significance lies in the fact it happened at all. I believe it's an indication of behind the scenes activity that makes it unlikely that AVO is heading towards being put into administration. Beyond that I'm just guessing.
I've been following AVO for very many years and experienced the BoD doing some weird and wonderful things. The things that stand out are that the long term members of the board have invested a lot of their own money into the company, have rarely sold any of their shares and sold none at all in recent years. They may be inept but they're very committed to AVO's survival and stand to loose a lot if it fails.
Meldrew, that rogue transaction was only for 200k shares wasn’t it? £3500. Unless I’m missing something.
On the Recap Plan, I do hope it still is being progressed in the background as surely this is the way to put pressure on a potential buyer/strategic investor. They can’t low-ball the shareholders if there is an alternative route to survival.
Let’s hope it is a good partial sale / white knight investor, this technology is too valuable to fail at the 11th hour. The impact of this LINAC LIGHT technology will have immense benefits throughout the world and in the U.K. AVO have a robust plan to treat children who otherwise may not benefit. 🤞
A sale might appear to be the most likely possibility but there is that unexplained transaction to take into account. What was that about? I can't see it fitting into a sale but I can imagine it being in someway linked to ongoing financial arrangements to pay salaries, etc. It was only trading on AIM that was suspended. OTC trading might not be affected and no mention was made about the company ceasing to operate, or not paying salaries.
Does that make sense?
Curious, I agree “something” is certainly going on, as they ran out of money at the end of May. The poor staff and creditors must be pulling their hair out. The Recap Plan is some seven weeks into its gestation now, which I guess is just about plausible, but normally it’d be a lot quicker. Therefore I’m thinking it’s more likely to be a sale. Must be any day now.
This Recap plan is certainly taking its time, I am very hopeful however that no news really is good news as the company must be significantly advanced in negotiations otherwise the administrators would probably have been appointed.
Does anyone have any other views?
The suspension from trading was voluntary, not imposed. So we might see some other trades as negotiations proceed.
We live in hope!
An interesting development. A sign of life perhaps?
How can this be?
Recent Share Trades for Advanced Oncotherapy (AVO)
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
30-Aug-23 16:23:51 1.75 200,000 Unknown* 0.00 0.00 3,500 O
There have been fears in the past that China could be a possible contender to take over AVO, along with LIGHT. I don't know how that might work out for the rest of the world, or what CERN's stance on it might be. I believe that CERN might still own the IP and AVO 'owns' LIGHT under licence from CERN.
That would make sense. So possible additional funding from China?
China has figured prominently in AVO's history since the days of David Cameron's premiership. One of their major shareholders and past director, is a Chinese woman, RhenHua Zang, who has given the address of AVO's Harley Street clinic as her contact address in the UK.
Always a good idea to have company websites in several languages. The interesting thing is that the second language is Chinese rather than Spanish, Arabic or another Asian language. Possibility of investment from China?
Top RHS home page of website (can't say I have noticed this before)
It's over 4 months since it was announced that AVO was in discussions with potential buyers of AVO, yet there has been no indication whatsoever of any progress on that front. I feel that the prolonged silence indicates either a general lack of interest on the part of potential buyers or a lack of commitment by AVO to selling.
Assuming that going into administration would be the least favoured option, that suggests to me that the recapitalisation plan might still be alive and kicking, if not yet complete, and there might be hope for us yet.
Update on Formal Sale Process
The Company announced on 18 April 2023 the commencement of a strategic review and formal sale process under the Takeover Code (the "Formal Sale Process").
Whilst the Prospective Recapitalisation Plan has been the Company's primary focus, the Company remains in discussions under the Formal Sale Process with strategic players in the radiotherapy sector.
There can be no certainty that any offer will be made for the Company, or even proposed, or as to the terms of any proposal or offer that may be made.
Therefore, no news is GOOD news!
We must have at least one interested party as the dispensation is for 28 days and " will not be subject to the 28-day deadline referred to in Rule 2.6(a), for so long as it is participating in the formal sale process."
Hi Curiousinvester6. Thanks for putting me right. I'd let the dispensation pass me by.
I'll just have to be patient and hope for the best
Hi Meldrew I do not believe any notification is required by an interested party. As announced on the 18th April 2023 please note the following:
The Takeover Panel has granted a dispensation from the requirements of Rules 2.4(b) and 2.6(a) of the Code such that any interested party participating in the formal sale process will not be required to be publicly identified (subject to note 3 to Rule 2.2 of the Code) and will not be subject to the 28-day deadline referred to in Rule 2.6(a), for so long as it is participating in the formal sale process.
I therefore believe all options are still on the table and hopefully the best one for all shareholders of which the directors are major holders will complete successfully