Equity Subscription and Issue of Warrants

RNS Number : 0851I

Advanced Oncotherapy PLC

12 April 2022

 

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")

E quity 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.

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Advanced Oncotherapy plc	www.avoplc.com
Dr. Michael Sinclair, Executive Chairman	Tel: [phone]
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: [phone]
SI Capital Ltd (Joint Broker)
Nick Emerson	Tel: [phone]
Jon Levinson	Tel: [phone]
FTI Consulting (Financial PR & IR)	[e-mail]
Simon Conway / Rob Winder	Tel: [phone]

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.

 

END

 

 

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