REG - Advanced Oncotherapy - Cancellation of admission to trading on AIM

WH IrelandAnnouncement

09/05/2024 08:15

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RNS Number : 7011N  Advanced Oncotherapy PLC  09 May 2024

9 May 2024

ADVANCED ONCOTHERAPY PLC

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

 

Cancellation of admission to trading on AIM

 

Further to the Company's announcement released on 3 May 2024, Advanced
Oncotherapy (AIM: AVO), the developer of LIGHT, the next-generation proton
therapy system for cancer treatment, announces that pursuant to Rule 41 of the
AIM Rules for Companies ("AIM Rules"), and with the Ordinary Shares of the
Company having been suspended for more than six months, the Company's
admission to trading on AIM will be cancelled with effect from 7.00 a.m. on 9
May 2024 ("Cancellation").

 

As announced by the Company on 3 May 2024, the Company continues to make
progress on the proposed financing transaction with a third-party investor and
notwithstanding the previous delays encountered, the Company remains confident
of receiving the initial tranche of funding of $15 million by the end of May
2024. Whilst the board of the Company is hopeful of a satisfactory outcome
there can be no guarantee that this funding will be received nor the quantum
or timing thereof.

 

Upon the Cancellation becoming effective, Allenby Capital has ceased to be
nominated adviser to the Company pursuant to the AIM Rules, however the
Company will remain subject to the Takeover Code.

 

Notwithstanding that the Company will no longer be subject to the AIM Rules,
the AVO board is committed to keeping shareholders abreast of developments and
will continue to publish news of these developments on its website as
appropriate.

 

 

 

 Advanced Oncotherapy Plc                                    www.avoplc.com (http://www.avoplc.com)
 Dr. Michael Sinclair, Executive Chairman                    Tel: +44 (0) 20 3617 8728
 Nicolas Serandour, CEO

 WH Ireland Limited (Financial adviser)                      Tel: +44 (0) 20 7220 1666
 Antonio Bossi / James Bavister                              AVOPLC@whirelandcm.com

 Allenby Capital Limited (Nomad and Joint Broker)
 Nick Athanas / Piers Shimwell (Corporate Finance)           Tel: +44 (0) 20 3328 5656

 Amrit Nahal / Matt Butlin (Sales & Corporate Broking)

 SI Capital Ltd (Joint Broker)
 Nick Emerson                                                Tel: +44 (0) 1483 413 500
 Jon Levinson                                                Tel: +44 (0) 20 3871 4066

About Advanced Oncotherapy Plc www.avoplc.com

 

Advanced Oncotherapy Plc, a UK headquartered company with offices in London,
Geneva, The Netherlands and in the USA, 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's compact configuration delivers proton beams in a way that facilitates
greater precision and electronic control.

 

Advanced Oncotherapy Plc will offer healthcare providers affordable systems
that will enable them to treat cancer with innovative technology as well as
expected lower treatment-related side effects.

 

Advanced Oncotherapy Plc 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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