3 Oct 2014 07:00
ADVANCED ONCOTHERAPY Plc
("Advanced Oncotherapy" or the "Company")
Director share purchase & Issue of Equity
Advanced Oncotherapy (AIM: AVO), the developer of innovative radiation technology for cancer treatment, announces that Mr Tim Lebus, non-executive director of the Company, has informed the Company that, on 2 October 2014, he purchased 400,000 Ordinary Shares at a price of 4.6p per Ordinary Share. Following this transaction, Mr Lebus now holds 1,363,000 Ordinary Shares representing 0.13% of the issued share capital of the Company.
The Company also announces that it has issued 3,000,000 new ordinary shares of 1p in the Company ("Ordinary Shares") at a price of 4.625 pence per Ordinary Share (being the closing mid price on 2 October 2014) in lieu of fees as follows:
| 1,000,000 new Ordinary Shares to Dr Enrico Vanni, a non-executive director, in connection with his providing operational management support to the Company's ADAM subsidiary; and |
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| 2,000,000 new Ordinary Shares to a business services provider to the Company |
Following this transaction, Dr Vanni now holds 11,450,000 Ordinary Shares representing 1.12% of the issued share capital of the Company.
Application has been made for the 3,000,000 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or about 9 October 2014. The new Ordinary Shares will rank pari passu in all aspects with the existing Ordinary Shares of the Company.
Total voting rights
Following Admission, the Company's enlarged issued share capital will comprise 1,023,853,424 Ordinary Shares, with voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore the total number of Ordinary Shares in the Company with voting rights will be 1,023,853,424. 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 | |
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Westhouse Securities (Nomad & Joint Broker) | Tel: +44 20 7601 6100 |
Antonio Bossi / David Coaten |
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Beaufort Securities (Joint Broker) | Tel: +44 20 7382 8300 |
Saif Janjua / Jon Levinson |
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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.
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.