Conversion of Loans

RNS Number : 5589U

Advanced Oncotherapy PLC

17 October 2014

 



ADVANCED ONCOTHERAPY Plc

("Advanced Oncotherapy" or the "Company")

Conversion of Loans

Advanced Oncotherapy (AIM: AVO), the developer of innovative radiation technology cancer treatment, announces that it has issued 4,590,490 new ordinary shares with a nominal value of 1p in the Company ("Ordinary Shares") in settlement of loans and accrued interest. This transaction moves the Company closer to a debt free position, with the only outstanding debt being a mortgage on a non-core property asset which is being prepared for sale.

Application has been made for the 4,590,490 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or about 20 October 2014. The new Ordinary Shares will rank pari passu in all aspects with the existing Ordinary Shares of the Company.

Total voting rights

Following Admission, the Company's enlarged issued share capital will comprise 1,028,443,914 Ordinary Shares, with voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore the total number of Ordinary Shares in the Company with voting rights will be 1,028,443,914. 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 contact:

Advanced Oncotherapy Plc	www.avoplc.com
Sanjeev Pandya, CEO	Tel: [phone]
Nicholas Serandour, CFO	Tel: [phone]
Westhouse Securities (Nomad & Joint Broker)	Tel: [phone]
Antonio Bossi / David Coaten
Beaufort Securities (Joint Broker)	Tel: [phone]
Saif Janjua / Jon Levinson
Walbrook PR (Financial PR & IR)	Tel: [phone] or [e-mail]
Paul McManus / Anna Dunphy	Mob: [phone] / Mob: [phone]

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.

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.

 

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