AVO.L Regulatory News (AVO)

PRIOR TO PUBLICATION, THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT WAS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310. WITH THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

28 June 2022

ADVANCED ONCOTHERAPY PLC

("Advanced Oncotherapy" or the "Company")

Equity Subscription and Issue of Warrants

Total Voting Rights

Advanced Oncotherapy (AIM:AVO), the developer of LIGHT, the next-generation proton therapy system for cancer treatment, announces an equity fundraise of £6,022,500 before expenses. The fundraise has been conducted through a direct subscription with the Company (the "Subscription") for a total of 24,090,000 new Ordinary Shares of 25 pence each (the "Subscription Shares") at a price of 25 pence per share (the "Issue Price"). The Issue Price represents a premium of 19 per cent to the closing middle market price of an ordinary share on 27 June 2022. Subscription Shares amounting to £4.5m have been subscribed for by Odey Asset Management LLP acting on behalf of certain of its funds.

Once issued, the Subscription Shares will rank pari passu in all respects with the existing Ordinary Shares of the Company. The Subscription Shares are being issued under the Company's existing share authorities.

The net proceeds of the Subscription will be used for general corporate purposes as the Company progresses towards having a fully operational LIGHT system operating at 230 MeV.

Under the terms of the Subscription, warrants to subscribe for 24,090,000 new Ordinary Shares will also be issued within three months of First Admission (the "Warrant Issue Date") (subject to the Company being granted the relevant share authorities at its 2022 annual general meeting) to subscribers of the Subscription Shares with an exercise price of 25 pence per share, exercisable for four years from First Admission. In the event that the number of Subscription Shares held by a subscriber on the Warrant Issue Date has decreased compared to the number of Subscription Shares issued to them, the number of warrants to be issued to the subscriber will be adjusted accordingly.

Application has been made for 21,540,000 of the Subscription Shares to be admitted to trading on AIM and it is expected that admission will occur on or around 1 July 2022 ("First Admission"). Application has been made for the remaining 2,550,000 Subscription Shares to be admitted to trading on AIM and it is expected that admission will occur on or around 10 August 2022 ("Second Admission").

Total Voting Rights

Upon First Admission, the Company's enlarged issued share capital will comprise 494,892,211 ordinary shares of 25 pence each ("Ordinary Shares"). Upon Second Admission, the Company's enlarged issued share capital will comprise 497,442,211 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. Therefore, the aforementioned figures may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

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About Advanced Oncotherapy Plc

Advanced Oncotherapy, a UK headquartered company with offices in London, Geneva, The Netherlands and in the USA, is a provider of particle therapy with protons that harnesses the best in modern technology. Advanced Oncotherapy's team "ADAM," based in Geneva, focuses on the development of a proprietary proton accelerator called, Linac Image Guided Hadron Technology (LIGHT). LIGHT's compact configuration delivers proton beams in a way that facilitates greater precision and electronic control.

Advanced Oncotherapy will offer healthcare providers affordable systems that will enable them to treat cancer with innovative technology as well as expected 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.