Last checked at 24 Apr 2013 07:00
24 April 2013
ADVANCED ONCOTHERAPY Plc
("Advanced Oncotherapy" or "the Company")
Issue of Equity
Advanced Oncotherapy (AIM: AVO) is pleased to announce the allotment and issue of 100,000,000 new ordinary shares (the "New Ordinary Shares") of the Company at a subscription price of 1 pence per New Ordinary Share. The New Ordinary Shares were placed by Peterhouse Corporate Finance Limited and the New Ordinary Shares will be issued solely to Michael Bradfield.
Michael Bradfield has over 30 years experience of Direct Marketing and the Insurance Industry as founder and CEO of Hospital Plan Insurance Services (HPIS), a direct seller of low cost Health, Accident and Life Insurance. Michael has a law degree from LSE, was the youngest full Member of Lloyds of London and a computer application programmer since the late 1960's specialising in insurance based administration and correspondence systems and database marketing. HPIS was sold to AIG in 2000 when it expanded into Europe. Since 2004 he has been an active investment manager, especially in technology based companies and sustainable industries.
Based on the subscription price, the gross proceeds of the issue are £1 million. The New Ordinary Shares being issued represent an increase of approximately 27.8 per cent. of the enlarged share capital post admission.
Application has been made for the New Ordinary Shares to be admitted to trading on AIM and it is expected that trading will commence on 29 April 2013. The New Ordinary Shares will rank pari passu in all aspects with the existing ordinary shares of the Company.
On admission, the Company will have 359,410,368 ordinary shares in issue.
Michael Sinclair, Chief Executive of Advanced Oncotherapy, said: "I am delighted to welcome Michael Bradfield as a Shareholder. His extensive experience of both the Healthcare Industry and the International Investment arena will be a significant asset to our Company. "
For further information, please visit www.advancedoncotherapy.com or contact:
Michael Sinclair, Chief Executive | Sandy Jamieson | Jon Levinson | Simon Hudson |
Advanced Oncotherapy Plc | Libertas Capital Corporate Finance Ltd | Peterhouse Corporate Finance | Tavistock Communications |
(NOMAD & Joint Broker) | (Joint Broker) | (Financial PR & IR) | |
+44 20 3617 8739 | +44 20 7569 9650 | +44 20 7469 0930 | +44 20 7920 3150 |
About Advanced Oncotherapy Plc
1. Advanced Oncotherapy is a provider of new technology for innovative and patient-focused cancer treatments. These are technologies endorsed internationally by UK and global cancer clinicians and surgeons.
2. AVO has exclusivity for the Xoft® System in the UK and Ireland and offers a managed mobile service to hospitals thereby providing their patients with radiation treatment closer to home.
3. The Xoft® System provides a therapeutic dose of radiation directly to the region at risk with minimal radiation exposure to surrounding healthy tissue and without the complex handling, resource logistics and costs associated with using radioactive isotopes.
4. For more information please visit:
http://www.advancedoncotherapy.com/IORTEarlystage.aspx