Grant of options

RNS Number : 8033Q

Advanced Oncotherapy PLC

22 February 2019

 

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)
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)	PDMR  Price(s) Volume(s) Michael Sinclair (Director) Nicolas Serandour (Director) Steve Myers (Director) Ed Lee (PDMR) Bérengère Pons-Chabord (PDMR) 100p 100p 100p 100p 100p 545,000 1,400,000 215,000 215,000 140,000
d)	Aggregated information - Aggregated volume - Price	Price(s) Volume(s) 100p 2,515,000
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)	Price(s) Volume(s) 40p 45,000
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: [phone]
Dr. Michael Sinclair, Executive Chairman	www.avoplc.com
Nicolas Serandour, CEO
Allenby Capital Limited  (Nominated Adviser & Joint Broker)	Tel: [phone]
Nick Athanas / Liz Kirchner / Nicholas Chambers
Stifel Nicolaus Europe (Joint Broker)	Tel: [phone]
Jonathan Senior
Walbrook PR (Financial PR & IR) Paul McManus / Anna Dunphy	Tel: [phone] [e-mail] Mob: [phone] Mob: [phone]

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.

 

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