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Director Dealing & Total Voting Rights

1 Jul 2015 14:08

RNS Number : 8815R
Advanced Oncotherapy PLC
01 July 2015
 

1 July 2015

 

 

ADVANCED ONCOTHERAPY PLC

("Advanced Oncotherapy" or the "Company")

 

Director Dealing

 

Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, has been informed that Michael Sinclair, Executive Chairman of the Company, has yesterday sold 7 million ordinary shares of 1 penny each in the Company ("Shares") at 8.25 pence per Share in order to fund the exercise of warrants over 28.5 million Shares at an exercise price of 1.1 pence per Share ("Warrant Shares").

 

The remainder of the funds raised from Mr Sinclair's share sale will be used to fund the acquisition of the option over 30 million Shares from Brahma A.G., which was announced of 4 June 2015.

 

Michael Sinclair's resultant increased interest in the Company ordinary share capital is as follows:

 

 

Resultant holding

Shares held before the above transactions

Net increase as a result of the above transactions

Number of Shares

As a percentage of the enlarged share capital

Shares

 

68,079,757

21,500,000

89,579,757

6.5%

Options over Shares

65,800,000

-

65,800,000

na

 

 

Following these transactions Michael Sinclair does not hold any further warrants over Shares.

 

Application has been made for the 28,500,000 Warrant Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on 7 July 2015. The Warrant Shares will rank pari passu in all respect with the existing Shares of the Company.

 

Total Voting Rights

 

Following Admission, the Company's enlarged issued share capital will comprise 1,376,422,626 Shares, with voting rights. The Company does not hold any Shares in treasury. Therefore the total number of Shares in the Company with voting rights will be 1,376,422,626. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

 

For further information contact:

 

Advanced Oncotherapy Plc

www.avoplc.com

Sanjeev Pandya, CEO

Tel: +44 20 3617 8728

Nicholas Serandour, CFO

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)

Tel: +44 20 7933 8780 or avo@walbrookpr.com

Paul McManus / Anna Dunphy

Mob: +44 7980 541 893 / Mob: +44 7876 741 001

 

 

About Advanced Oncotherapy Plc www.avoplc.com

 

Advanced Oncotherapy'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

 

Advanced Oncotherapy is a provider of particle therapy with protons that harnesses the best in modern technology. As a result, Advanced Oncotherapy will offer healthcare providers affordable systems that will enable them to treat cancer with an innovative technology as well as better health outcomes and lower treatment related side effects. Therefore, the disruptive technology of the Company changes the financial model of proton therapy now that LIGHT is expected to have a comparable cost to conventional radiotherapy.

 

The Company has signed a purchase agreement with Sinophi Healthcare Limited for one LIGHT proton therapy system to be installed in a hospital in China and has further Letters of Intent from other healthcare providers.

 

Advanced Oncotherapy 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, the Company will remain the prime provider of an innovative and cost-effective system for particle therapy with protons.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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