Last checked at 1 Oct 2014 14:21
1 October2014
ADVANCED ONCOTHERAPY PLC
("Advanced Oncotherapy" or the "Company")
Award of Options and Director Dealing
Award of Options
Advanced Oncotherapy (AIM: AVO), the developer of the next generation of proton-particle therapy for treating cancer, has today agreed to award the following share options at an exercise price of 5 pence per share. The vesting of the options is conditional upon the Company's closing mid-price remaining above 12 pence per share over a period of at least 30 trading days before 1 October 2016.
Share options | Expiry date | |
Sanjeev Pandya, CEO | 5,000,000 | 1 October 2016 |
Mike Sinclair, Executive Chairman | 5,000,000 | 1 October 2016 |
Nicolas Serandour, CFO | 10,000,000 | 1 October 2016 |
Further to the above, in consideration for services that he is expected to provide to expand Advanced Oncotherapy's business in the US, Michael Bradfield has also been awarded the following share options with identical vesting conditions as above, however, he will be limited to exercising a third of his total amount granted in any one year for a period of 3 years, after which the options will expire.
Share options | Expiry date | ||
Michael Bradfield, NED | 20,000,000 | 1 October 2017 | limited to 6.67m per annum |
Director Dealing
The Company also announces that it had yesterday received notification that on 30 September 2014 Enrico Vanni, Non-Executive Director of the Company, purchased 450,000 ordinary shares of 1 penny each in the Company ("Ordinary Shares") at 4.6 pence per Ordinary Share.
Following this transaction, Dr Vanni now holds 10,450,000 Ordinary Shares representing 1.02% of the issued share capital of the Company.
For further information contact:
Advanced Oncotherapy Plc | www.avoplc.com |
Sanjeev Pandya (CEO) | Tel: +44 20 3617 8739 |
Westhouse Securities (Nomad & Joint Broker) | Tel: +44 20 7601 6100 |
Antonio Bossi / David Coaten | |
Beaufort Securities (Joint Broker) |
Tel: +44 20 7382 8300 |
Saif Janjua / Jon Levinson | |
Walbrook PR (Financial PR & IR) | avo@walbrookpr.com |
Anna Dunphy / Mike Wort
| Tel: +44 20 7933 8780 |
About Advanced Oncotherapy Plc
AVO's team based at CERN in Geneva focuses on the development of a proprietary proton accelerator called Linac Image Guided Hadron Technology (LIGHT). LIGHT accelerates protons to the energy levels achieved in legacy machines but in a unit that is a quarter of the size and between a quarter and a fifth of the cost. This compact configuration delivers proton beams in a way that facilitates a greater precision and electronic control which is not achievable with older technologies.
AVO is a provider of particle therapy with protons that harnesses the best in modern technology. As a result, AVO will offer healthcare providers affordable systems that will enable them to treat cancer with an innovative technology which is proven to bring better health outcomes and lower treatment related side effects.
AVO continually monitors the market for any emerging improvements in delivering proton therapy and actively seeks working relationships with providers of these innovative technologies. Through these relationships, AVO will remain the prime provider of an innovative and cost-effective system for particle therapy with protons. AVO's technology will allow healthcare suppliers access to more cost effective and more efficient ways to treat the increasing number of cancer patients who expect lower short term and long term side effects from their cancer treatment
For more information, please visit http://www.avoplc.com