Exercise of warrants

RNS Number : 3127F

Advanced Oncotherapy PLC

27 July 2016

 

27 July 2016

Advanced Oncotherapy plc

("Advanced Oncotherapy" or the "Company")

Exercise of Warrants, Issue of Shares and Holdings in Company

Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that it has today issued 2,000,000 new ordinary shares ("New Shares") of 25 pence in the Company to PI-Capital LLC, pursuant to the exercise of 2,000,000 warrants at 27.5 pence per New Share.  The warrants were issued in 2012. 

Following the issue of New Shares, PI-Capital LLC holds 2,000,000 Ordinary Shares representing 3.4% of the issued share capital of the Company.

Application has been made for the 2,000,000 Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or about 01 August 2016. 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 58,780,361 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 58,780,361. 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
Michael Sinclair, Chief Executive Officer	Tel: [phone]
Nicolas Serandour, Chief Operating and Financial Officer
Stockdale Securities (Nomad & Joint Broker)
Antonio Bossi / David Coaten	Tel: [phone]
Beaufort Securities (Joint Broker)
Jon Belliss / Elliot Hance	Tel: [phone]
Walbrook PR (Financial PR & IR)	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]
Anna Dunphy	Mob: [phone]

About Advanced Oncotherapy plc www.avoplc.com

Advanced Oncotherapy is a provider of particle therapy systems 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'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 fraction of the size and significantly lower in 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.

The Company has signed two purchase agreements with Sinophi Healthcare Limited for the LIGHT proton therapy systems to be installed in hospitals in China. There are also four additional framework agreements and further Letters of Intent from other healthcare providers.

The Company has also signed a joint venture agreement with CircleHealth, owned by AIM-listed Circle Holdings plc, to operate the Company's proton beam cancer therapy centre in Harley Street.

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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