4 Jun 2015 07:00
4 June 2015
ADVANCED ONCOTHERAPY PLC
("Advanced Oncotherapy" or the "Company")
Director Dealing
The Company announces that Michael Sinclair, Executive Chairman of the Company, had yesterday purchased an option over 30 million ordinary shares of 1 penny each in the Company ("Ordinary Shares") from Brahma AG at a cost of £300,000 ("Option"). The Option vests immediately, expires two years from today's date and has an exercise price of 10p per Ordinary Share.
Following the above transaction, Michael Sinclair's interest in the Company is as follows:
Ordinary Shares: 68,079,757
Options over Ordinary Shares: 65,800,000
Warrants over Ordinary Shares: 28,500,000
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. 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.