Exercise of warrants and issue of shares

RNS Number : 3666U
Advanced Oncotherapy PLC
29 July 2015
 

 

29 July 2015

 

 

Advanced Oncotherapy plc

("AVO" or the "Company")

 

Exercise of Warrants and issue of Shares

 

Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that it has today issued 34,122,682 new ordinary shares ("New Shares") of 1p in the Company at a price of 1.1 pence per New Share pursuant to the exercise of warrants by Brahma AG ("Brahma").  The warrants were issued on 25 September 2013 to Brahma in accordance with the share purchase agreement for ADAM SA.  Mr. Alberto Colussi, directly or indirectly through his vehicle Brahma, now controls 19.35% of the Issued Capital of AVO.

 

Commenting on this, Nicolas Serandour, CFO, said"The exercise of these warrants shows the continued support and confidence of Brahma and the Colussi family which we greatly appreciate."

 

Application has been made for the 34,122,682 Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or about 4 August 2015. The 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 1,411,161,708 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 1,411,161,708. 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, please contact:

 

Advanced Oncotherapy Plc

www.avoplc.com

Sanjeev Pandya, CEO

Tel: +44 20 3617 8728

Nicolas Serandour, CFO

 

 

 

Westhouse Securities (Nomad & Joint Broker)

 

Antonio Bossi / David Coaten

Tel: +44 20 7601 6100

 

 

Beaufort Securities (Joint Broker)

 

Saif Janjua / Jon Levinson

Tel: +44 20 7382 8300

 

 

Walbrook PR (Financial PR & IR)

Tel: +44 20 7933 8780 or avo@walbrookpr.com

Paul McManus / Anna Dunphy

Mob: +44 7980 541 893 / Mob: +44 7876 741 001

 

 

 

About Advanced Oncotherapy Plc www.avoplc.com

 

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 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.

The Company has signed a purchase agreement with Sinophi Healthcare Limited for one LIGHT proton therapy system to be installed in a hospital in China and has further Letters of Intent from other healthcare providers.

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.

 

 

 


This information is provided by RNS
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