Last checked at 1 Oct 2013 07:00
1 October 2013
ADVANCED ONCOTHERAPY PLC
("Advanced Oncotherapy" or "the Company")
Appointment of Non-Executive Director
Issue of Equity
Advanced Oncotherapy is pleased to announce the appointment of Enrico Cipro Vanni as a Non-Executive Director with immediate effect. Dr Vanni's appointment follows the resignation on 30 August 2013 of Non-Executive Director Trevor Brown who stepped down for health reasons.
Enrico Vanni, 62, is a Swiss national with a PhD and post-doctoral experience in chemistry. Following an MBA at INSEAD, he joined McKinsey & Co. in 1980 where he was appointed Director/Senior Partner. He was responsible for the Geneva office and for the European pharmaceuticals sector during many years. He retired from the firm in 2007.
Dr Vanni is Vice-Chairman of Novartis International AG and he was also a board member of Alcon, Inc in 2010-2011. He is a non-executive director of:
· Millennium Banque Privée, a private banking group
· Denzler & Partners, a management resources company
· Eclosion 2, a life sciences private equity company and the
· Ullens Group, active in art, education and philanthropy, where he chairs the Advisory Board
There are no further disclosures to be made regarding Dr Vanni's appointment under paragraph (g) of Schedule 2 of the AIM Rules.
Dr Vanni has agreed to subscribe for 10,000,000 New Ordinary Shares in Advanced Oncotherapy at a price of 3p per share, representing 1.72% of the Company's enlarged issued share capital. Application will be made for the New Ordinary Shares to be admitted to trading on AIM and it is expected that trading will commence on or about 7 October 2013. The New Ordinary Shares will rank pari passu in all aspects with the existing Ordinary Shares of the Company.On admission, the total number of Ordinary Shares in issue will be 582,149,836.
Advanced Oncotherapy's CEO, Dr Mike Sinclair, said, "Enrico's depth of experience in life sciences will add new dimensions to Advanced Oncotherapy as we seek to develop and further commercialise our technology. I am delighted to welcome Enrico to the board as a significant shareholder and as a healthcare industry leader. On behalf of the Board and management team, we look forward to his input into the continued growth of our business."
Enrico Vanni added, "I look forward to working with Mike Sinclair and his team. Contributing to this innovative organisation is a very motivating endeavour for me as advances in healthcare technologies are fundamentally important to better and more cost effective therapies".
For further information, please visit www.advancedoncotherapy.com or contact:
Michael Sinclair, Chief Executive | Sandy Jamieson | Jon Levinson/ Lucy Williams | Simon Hudson |
Advanced Oncotherapy Plc | Libertas Capital Corporate Finance Ltd | Peterhouse Corporate Finance | Tavistock Communications |
(NOMAD & Joint Broker) | (Joint Broker) | (Financial PR & IR) | |
+44 20 3617 8739 | +44 20 3697 9495 | +44 20 7469 0930 | +44 20 7920 3150 |
About Advanced Oncotherapy Plc
1. AVO is a provider of radiotherapy services that harnesses the best in modern technology. As a result, we offer cancer patients affordable access to innovative treatments with proven better health outcomes.
2. AVO's acquisition of ADAM, a company spin off from CERN (The Large Hadron Collider), focuses on the development of a proprietary radiation technology called LIGHT. This technology offers patients and providers the benefits of proton beam therapy at significantly reduced capital and running costs.
3. AVO's subsidiary company, Oncotherapy Resources Ltd, offers an exclusive mobile service for intraoperative radiotherapy (SD-IORT). This form of radiotherapy is used in a variety of cancers, notably breast cancer, and offers a convenient, safe and effective alternative for the patient. It is currently available in the UK through BMI, Spire and other hospitals.
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