Last checked at 22 Feb 2019 07:00
22 February 2019
ADVANCED ONCOTHERAPY PLC
("Advanced Oncotherapy" or the "Company")
Grant of Options and 2018 SAYE Option Plan
Advanced Oncotherapy plc (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that its Remuneration Committee has approved the grant of share options (the "Options") over a total of 4,000,000 new ordinary shares of 25 pence each ("Ordinary Shares").
Of the Options, 545,000 have been granted to Dr Michael Sinclair (Executive Chairman), 1,400,000 to Nicolas Serandour (Chief Executive Officer), 215,000 to Professor Stephen Myers (Non-Executive Director of Advanced Oncotherapy and Executive Chairman of ADAM) and the remaining 1,840,000 to members of key management, including a PDMR.
The Options have been granted at an exercise price of 100 pence per share (implying a 141% premium over the closing share price on 20 February 2019). The options have a five-year term, expiring on 20 February 2024. This Option grant is consistent with the Remuneration Committee's policy to align the interests of key personnel and shareholders through appropriate incentive schemes, including the award of shares and share options. It follows recent achievements, including the recent ISO:13485 certification, the significant progress on the LIGHT system which generates a beam with an energy level capable of treating superficial tumours and the £10 million funding round announced on 21 December 2018.
Separately, pursuant to the Company's 2018 SAYE Option Plan and further to the announcement released on 21 December 2018, the Board has granted options over a total of 1,449,342 new Ordinary Shares (the "SAYE Options"). A total of 66 employees elected to participate in the 2018 SAYE Option Plan, including one employee who is classified as a PDMR.
The SAYE Options have been granted at a price of 40 pence per share which is equivalent to the price of the £10 million funding round announced in December 2018. The SAYE Options have a savings contract start date of 1 March 2019 and are exercisable between 1 March 2022 and 31 August 2022.
Following the grant of the Options and the SAYE Options, the Company has options outstanding over 10,616,011 new Ordinary Shares, which represents approximately 5.46 per cent. of the Company's issued ordinary share capital.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Michael Sinclair (Director)
Nicolas Serandour (Director)
Steve Myers (Director)
Ed Lee (PDMR)
Bérengère Pons-Chabord (PDMR)
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2 | Reason for the notification | |||||||
a) | Position/status | See 1 a) above | ||||||
b)
| Initial notification /Amendment | Initial notification | ||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Advanced Oncotherapy plc | ||||||
b) | LEI | 213800LUDHZOG3YT6C82 | ||||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
a)
| Description of the financial instrument, type of instrument Identification code | Ordinary shares of 25p each in Advanced Oncotherapy plc
Identification code (ISIN) for Advanced Oncotherapy plc ordinary shares: GB00BD6SX109 | ||||||
b) | Nature of the transaction | Grant of options over new ordinary shares | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price |
| ||||||
e) | Date of the transaction | 21 February 2019 | ||||||
f) | Place of the transaction | outside of a trading venue - grant of options | ||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Bérengère Pons-Chabord
| ||||
2 | Reason for the notification | |||||
a) | Position/status | PDMRs | ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Advanced Oncotherapy plc | ||||
b) | LEI | 213800LUDHZOG3YT6C82 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a)
| Description of the financial instrument, type of instrument Identification code | Ordinary shares of 25p each in Advanced Oncotherapy plc
Identification code (ISIN) for Advanced Oncotherapy plc ordinary shares: GB00BD6SX109 | ||||
b) | Nature of the transaction | Grant of SAYE options over new ordinary shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | n/a | ||||
e) | Date of the transaction | 21 February 2019 | ||||
f) | Place of the transaction | outside of a trading venue - grant of SAYE options | ||||
For further information, please contact:
Advanced Oncotherapy Plc | Tel: +44 (0) 20 3617 8728 |
Dr. Michael Sinclair, Executive Chairman | www.avoplc.com |
Nicolas Serandour, CEO | |
Allenby Capital Limited (Nominated Adviser & Joint Broker) | Tel: +44 (0) 20 3328 5656 |
Nick Athanas / Liz Kirchner / Nicholas Chambers | |
Stifel Nicolaus Europe (Joint Broker) | Tel: +44 (0) 20 7710 7600 |
Jonathan Senior | |
Walbrook PR (Financial PR & IR) Paul McManus / Anna Dunphy | Tel: +44 (0) 20 7933 8780 avo@walbrookpr.com Mob: +44 (0) 7980 541 893 Mob: +44 (0) 7876 741 001 |
About Advanced Oncotherapy Plc www.avoplc.com
Advanced Oncotherapy is a provider of particle therapy in the treatment of cancer, which harnesses the very best in modern technology. Advanced Oncotherapy's R&D team, ADAM, in Geneva, focuses on the development of a proprietary proton accelerator - LIGHT (Linac Image Guided Hadron Technology). LIGHT accelerates protons to the energy levels achieved in legacy machines but in a compact and truly modular unit, offering significant cost advantages. LIGHT also delivers proton beams in a way that facilitates greater precision and electronic control, which are not achievable with currently available alternative technologies.
Advanced Oncotherapy will offer healthcare providers affordable systems that will enable them to treat cancer with an innovative technology, offering better health outcomes and lower treatment related side effects.
Advanced Oncotherapy continually monitors the market for any emerging improvements in delivering proton or particle therapy and actively seeks working relationships with providers of these innovative technologies. Through these relationships, the Company will remain the prime provider of cutting edge, cost-effective systems for particle therapy.