Result of Open Offer

RNS Number : 9288N

Advanced Oncotherapy PLC

01 November 2016

 

ADVANCED ONCOTHERAPY PLC

("Advanced Oncotherapy" or the "Company")

Result of Open Offer

Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, is pleased to announce that the Open Offer announced on 14 October 2016 closed for acceptances at 11am yesterday and received valid acceptances in respect of 3,378,771 Open Offer Shares from Qualifying Shareholders. This represents 84 per cent of the Open Offer Shares and valid acceptances will therefore be satisfied in full.

Admission

Application has been made for the 3,378,771 Open Offer Shares to be admitted to trading on AIM and it is expected that Admission will occur on 2 November 2016.

Following Admission, the Company's enlarged issued share capital will comprise 72,188,674 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 72,188,674. 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.

Capitalised terms used but not defined in this announcement have the same meaning as in the Open Offer Circular posted to shareholders on 14 October 2016.

Advanced Oncotherapy Plc	www.avoplc.com
Nicolas Serandour, Chief Executive Officer	Tel: [phone]
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)
Paul McManus / Anna Dunphy	Tel: [phone] or [e-mail]
	Mob: [phone] / 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 providing better health outcomes and fewer treatment related side effects.

Advanced Oncotherapy is a provider of particle therapy with protons that harnesses the best in modern technology. 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 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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