12 Apr 2022 07:13
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.
12 April 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 £1,735,000 before expenses. The fundraise has been conducted through a direct subscription with the Company (the "Subscription") for a total of 6,940,000 new ordinary shares (the "Subscription Shares") at a price of 25 pence per share (the "Issue Price"). The Issue Price represents a premium of 6.38 per cent to the closing middle market price of an ordinary share on 11 April 2022.
Once issued, the Subscription Shares will rank pari passu in all respects with the existing Ordinary Shares of the Company.
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.
The Company intends to issue the Subscription Shares in two tranches. Application will be made for 3,400,000 of the Subscription Shares to be admitted to trading on AIM ("First Admission") and it is expected that First Admission will occur on or around 20 April 2022. Application will be made for the remaining 3,540,000 Subscription Shares to be admitted to trading on AIM ("Second Admission") and it is expected that Second Admission will take place on or around 10 May 2022.
Under the terms of the Subscription, warrants to subscribe for 6,940,000 New Ordinary Shares will also be issued in two separate tranches with an exercise price of 25 pence per share. 3,400,000 warrants exercisable up until 20 April 2026 will be issued upon First Admission, whilst the remaining 3,540,000 warrants exercisable up until 10 May 2026 will be issued upon Second Admission.
Total Voting Rights
Upon First Admission, the Company's enlarged issued share capital will comprise 466,612,211 Ordinary Shares, of 25 pence each ("Ordinary Shares"). The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights on First Admission will be 466,612,211. Upon Second Admission, the Company's enlarged issued share capital will comprise 470,152,211 Ordinary Shares, of 25 pence each and the total number of Ordinary Shares in the Company with voting rights on Second Admission will be 470,152,211. 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.
- ENDS -
Advanced Oncotherapy plc | www.avoplc.com |
Dr. Michael Sinclair, Executive Chairman | Tel: +44 (0) 20 3617 8728 |
Nicolas Serandour, CEO | |
Allenby Capital Limited (Nomad and Joint Broker) | |
Nick Athanas / Liz Kirchner (Corporate Finance) Amrit Nahal / Matt Butlin (Sales and Corporate Broking) | Tel: +44 (0) 20 3328 5656 |
SI Capital Ltd (Joint Broker) | |
Nick Emerson | Tel: +44 (0) 1483 413 500 |
Jon Levinson | Tel: +44 (0) 20 3871 4066 |
FTI Consulting (Financial PR & IR) | advancedoncotherapy@fticonsulting.com |
Simon Conway / Rob Winder | Tel: +44 (0) 20 3727 1000 |
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.