14 Jul 2015 07:00
14 July 2015
Advanced Oncotherapy plc
("AVO" or the "Company")
Exercise of Warrants and Issue of Shares
Issue of Shares
Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that it has today issued 600,000 new ordinary shares ("New Ordinary Shares") of 1p in the Company at a subscription price of 8 pence per Ordinary Share (being the closing mid price on 13 July 2015) to Dr Enrico Vanni, a non-executive director, in lieu of his non-executive director fee and fees in connection with his providing operational management support to the Company's ADAM subsidiary.
Following this transaction, Dr Vanni now holds 13,050,000 Ordinary Shares representing 0.97% of the issued share capital of the Company.
Exercise of Warrants and Issue of Shares
The company further announces that it has today issued 16,400 new ordinary shares ("Further Shares") of 1p in the Company at a price of 6 pence per Further Share pursuant to the exercise of warrants.
Admission
Application has been made for the 600,000 New Ordinary Shares and the 16,400 Further Shares (together "Shares") to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on 21 July 2015. The 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 1,377,039,026 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 1,377,039,026. 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, please contact:
Advanced Oncotherapy Plc | www.avoplc.com |
Sanjeev Pandya, CEO | Tel: +44 20 3617 8728 |
Nicolas Serandour, CFO |
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Westhouse Securities (Nomad & Joint Broker) |
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Antonio Bossi / David Coaten | Tel: +44 20 7601 6100 |
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Beaufort Securities (Joint Broker) |
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Saif Janjua / Jon Levinson | Tel: +44 20 7382 8300 |
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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.