Issue of Equity and Warrants and director deal

RNS Number : 5892O

Advanced Oncotherapy PLC

08 August 2014

 



ADVANCED ONCOTHERAPY Plc

("Advanced Oncotherapy" or "the Company")

Issue of Equity and Warrants and director deal

Advanced Oncotherapy (AIM: AVO), the developer of innovative radiation technology cancer treatment, announces that it has issued 4,389,852 new ordinary shares of 1 penny each ("Ordinary Shares") to Mobi Capital Ltd ("Mobi") as a post closing adjustment in connection with the sale of the Healthcare Property Co Ltd announced on 5 December 2012.

Application has been made for the 4,389,852 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or about 13 August 2014. The new Ordinary Shares will rank pari passu in all aspects with the existing Ordinary Shares of the Company.

In addition, Dr Michael Sinclair, a director of the Company, has entered into a put option agreement whereby Mobi has the right to sell to him the 4,389,852 Ordinary Shares at any time during a three month period commencing 12 months from the issue date at a price of 3.25 pence per share.

The Company further announces that it has agreed to issue 8,264,463 warrants to Darwin Strategic Ltd to subscribe for new Ordinary Shares at 3.5p per share in connection with finance facilities provided to the Company. The warrants are exercisable immediately until the end of May 2019.

Total voting rights

Following Admission, the Company's enlarged issued share capital will comprise 869,538,424 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 869,538,424. 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]
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)
Anna Dunphy / Mike Wort	Tel: [phone] or [e-mail]

About Advanced Oncotherapy

Vision:

To advance patients' clinical treatments and improve their everyday lives by harnessing innovative science and focusing it to develop the most effective and affordable cancer treatments.

Mission:

To facilitate the wider use of radiation with protons for treating all forms of cancerous tumours by commercialising novel technologies inspired by CERN and the Large Hadron Collider.

Key corporate messages:

AVO's team based at CERN near Geneva focuses on the development of a proprietary proton system called Linac Image Guided Hadron Technology (LIGHT). This LIGHT system 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.

AVO is a provider of proton radiotherapy that harnesses the best in modern technology.  As a result, the Company will offer healthcare providers affordable systems that will enable them to treat cancer with an innovative technology which is proven to bring better health outcomes and lower treatment related side effects.

AVO 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 innovative and cost-effective equipment for proton radiation. This will allow healthcare suppliers to access more cost effective and more efficient ways to treat the increasing number of cancer patients who expect lower short term and long term side effects of their cancer care. 

AVO's subsidiary company, Oncotherapy Resources Ltd, offers an exclusive mobile service for intraoperative radiotherapy (SD-IORT).  This form of radiotherapy is used in a variety of cancers, notably breast cancer, and offers a convenient, safe and effective alternative for the patient.  It is currently available in the UK from Spire Healthcare and BMI Healthcare Hospitals.

Through its shareholding and collaboration with Advanced Proton Solutions (APS), AVO can offer a complete turnkey solution to the design installation and operation of its LIGHT proton system for healthcare providers. This is attractive to potential purchasers and has led to its involvement in the development of the first comprehensive proton beam therapy centre in London to treat both NHS and private patients. 

For more information, please visit http://www.avoplc.com

 

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