Exercise of warrants and conversion of debt

RNS Number : 2902F

Advanced Oncotherapy PLC

19 February 2015

 



19 February 2015

Advanced Oncotherapy plc

("AVO" or the "Company")

Exercise of Warrants and Conversion of Debt

Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for treating cancer, announces that it has issued 1,014,463 new ordinary shares ("Shares") at a subscription price of 3.4559 pence each to Darwin Strategic Ltd ("Darwin"), pursuant to the exercise of warrants issued to Darwin. Following the exercise, Darwin holds warrants over a further 1,500,000 Shares.

The Company has also issued 1,843,812 Shares at yesterday's closing mid-market price of 4.43 pence each, in settlement of accrued interest on loans previously made to the Company where the lender has exercised their right to take the interest in shares.

Application has been made for the 2,858,275 Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on 25 February 2015. The Shares will rank pari passu in all respect with the existing Shares of the Company.

Total voting rights

Following Admission, the Company's enlarged issued share capital will comprise 1,031,302,189 Shares, with voting rights. The Company does not hold any Shares in treasury. Therefore the total number of Shares in the Company with voting rights will be 1,031,302,189. 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.

Advanced Oncotherapy Plc	www.avoplc.com
Sanjeev Pandya, CEO	Tel: [phone]
Nicolas Serandour, CFO
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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