3 Oct 2013 07:00
ADVANCED ONCOTHERAPY PLC
("Advanced Oncotherapy" or "the Company")
Appointment of Chairman of AVO Medical Advisory Board
Issue of Shares and Warrants
Advanced Oncotherapy (AIM: AVO) announces the appointment of Dr Nick Plowman, Senior Clinical Oncologist to St Bartholomew's Hospital and The Hospital for Sick Children Great Ormond Street, London as Chairman of the AVO Medical Advisory Board effective from 1 October 2013.
Dr Plowman has been Head of the Oncology Department at St Bartholomew's since 1989. He has published over 300 research papers in radiotherapy and clinical oncology and has a long term interest in advances in the radiotherapeutic methods to treat prostate cancer and focussed brain and body radiotherapy techniques. He also undertakes visiting duties at St Mark's Hospital in Harrow, the country's leading specialist hospital for colorectal and intestinal disease, and at Moorfield's Eye Hospital, London.
Dr Plowman has agreed to subscribe for 6,666,666 New Ordinary Shares in Advanced Oncotherapy at a price of 3p per share. Following this subscription, Dr Plowman will hold 22,066,666 Ordinary Shares in the Company representing 3.75% 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 9 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 588,816,502.
In addition, the Company has agreed to issue 3,333,333 warrants to Dr Plowman to subscribe for new Ordinary Shares at 5p per share. The Company has also agreed to issue 5,000,000 warrants on the same terms to Dr Vanni, whose appointment to the Board was announced on 1 October 2013.
Advanced Oncotherapy's CEO, Dr Mike Sinclair, said, "I am delighted to welcome Nick to this ever important role. He brings an unprecedented depth of clinical experience in both paediatric and adult oncology to the Board. As a leader amongst clinicians, his wealth of insight will be invaluable to the development of LIGHT, the next generation of proton therapy.
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 Spire and other hospitals.
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