Placing to raise ?0.35 million with AB Segulah

RNS Number : 2704Q

Advanced Oncotherapy PLC

05 November 2012

 



5 November 2012

ADVANCED ONCOTHERAPY PLC

("Advanced Oncotherapy", "the Group" or "the Company")

Placing to Raise £0.35 million

Stockholm Based AB Segulah Becomes Key Shareholder

The Board of Advanced Oncotherapy (AIM: AVO, formerly CareCapital Group Plc) is pleased to announce that it has placed 35,000,000 new ordinary shares in the Company ("the Placing Shares"), at a price of 1 pence per share, with Stockholm based AB Segulah ("Segulah") to raise a total of £350,000. The price of the Placing Shares is equal to the closing mid-market price on 2 November 2011. The proceeds of the Placing Shares will be used to provide additional resources to develop the Group's businesses in the cancer diagnosis and treatment market.

Founded in 1994, AB Segulah is a private investment company controlled by Mr Gabriel Urwitz and his family investing mainly in private equity funds advised by Segulah Advisor AB, of which Mr Urwitz also is the chairman and partner.

Application will be made for the Admission to AIM of the new ordinary shares issued and this is expected to become effective on 8 November.  The Placing Shares, on Admission to AIM, will represent approximately 13.5 per cent of the Company's enlarged issued share capital, and will rank pari passu with the existing ordinary shares.  Following Admission, the Company's enlarged issued share capital will comprise 259,410,368 Ordinary Shares with one voting right per share.  The total number of voting rights in the Company is therefore 259,410,368.

Commenting on the investment, Dr Mike Sinclair, CEO of Advanced Oncotherapy, said,"I am delighted to welcome AB Segulah as a key shareholder in Advanced Oncotherapy.  Their investment represents a positive endorsement of our technology and prospects by a fund with a long and successful track record of investing."

Gabriel Urwitz, Chairman of AB Segulah, added, "We are very impressed with the business model set out by Advanced Oncotherapy and believe that the market for cancer treatment services will expand rapidly as new and proven services and treatments become available to oncology practitioners around the world."

For further information, please contact:

Michael Sinclair, Chief Executive	Sandy Jamieson	Jon Levinson	Simon Hudson,
Advanced Oncotherapy Group Plc	Libertas Capital Corporate Finance Ltd	Peterhouse Corporate Finance	Tavistock Communications
0203 617 8739	(NOMAD & Joint Broker)	(Joint Broker)	(Financial PR & IR)
	020 7569 9650	020 7469 0930	020 7920 3150

About Advanced Oncotherapy

Advanced Oncotherapy is a provider of new technology for innovative and patient-focused cancer treatments in the UK. These are technologies endorsed internationally by UK and global cancer clinicians, but not currently available in the NHS nor the private sector. Such initiatives build on the Group's 28.75% stake in Advanced Proton Solutions (Holdings) Ltd and its Oncotherapy Resources business focused on early stage breast cancer treatment.  Advanced Proton Solutions is pioneering the use of Proton Beam Therapy in the UK. They have secured planning approval for its first proton beam therapy center in the UK in the City of London.

About Segulah

Founded in 1994, AB Segulah is a private investment company controlled by Mr Gabriel Urwitz and his family investing mainly in private equity funds advised by Segulah Advisor AB, where Mr Urwitz also is the chairman and partner.

http://www.segulah.se/start.aspx?lang=en

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