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REG - Advanced Oncotherapy - Equity Subscription and Issue of Warrants

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RNS Number : 0851I  Advanced Oncotherapy PLC  12 April 2022

PRIOR TO PUBLICATION, THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT WAS
DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF
REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
WITH THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INFORMATION IS NOW CONSIDERED
TO BE IN THE PUBLIC DOMAIN.

 

12 April 2022

 

ADVANCED ONCOTHERAPY PLC

("Advanced Oncotherapy" or the "Company")

 

Equity Subscription and Issue of Warrants

 

Total Voting Rights

 

Advanced Oncotherapy (AIM:AVO), the developer of LIGHT, the next-generation
proton therapy system for cancer treatment, announces an equity fundraise of
£1,735,000 before expenses. The fundraise has been conducted through a
direct subscription with the Company (the "Subscription") for a total of
6,940,000 new ordinary shares (the "Subscription Shares") at a price of 25
pence per share (the "Issue Price"). The Issue Price represents a premium of
6.38 per cent to the closing middle market price of an ordinary share on 11
April 2022.

 

Once issued, the Subscription Shares will rank pari passu in all respects with
the existing Ordinary Shares of the Company.

 

The net proceeds of the Subscription will be used for general corporate
purposes as the Company progresses towards having a fully operational LIGHT
system operating at 230 MeV.

 

The Company intends to issue the Subscription Shares in two tranches.
Application will be made for 3,400,000 of the Subscription Shares to be
admitted to trading on AIM ("First Admission") and it is expected that First
Admission will occur on or around 20 April 2022. Application will be made for
the remaining 3,540,000 Subscription Shares to be admitted to trading on AIM
("Second Admission") and it is expected that Second Admission will take place
on or around 10 May 2022.

 

Under the terms of the Subscription, warrants to subscribe for 6,940,000 New
Ordinary Shares will also be issued in two separate tranches with an exercise
price of 25 pence per share. 3,400,000 warrants exercisable up until 20 April
2026 will be issued upon First Admission, whilst the remaining 3,540,000
warrants exercisable up until 10 May 2026 will be issued upon Second
Admission.

 

Total Voting Rights

 

Upon First Admission, the Company's enlarged issued share capital will
comprise 466,612,211 Ordinary Shares, of 25 pence each ("Ordinary Shares").
The Company does not hold any Ordinary Shares in treasury. Therefore, the
total number of Ordinary Shares in the Company with voting rights on First
Admission will be 466,612,211. Upon Second Admission, the Company's enlarged
issued share capital will comprise 470,152,211 Ordinary Shares, of 25 pence
each and the total number of Ordinary Shares in the Company with voting
rights on Second Admission will be 470,152,211. The aforementioned figures may
be used by shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or a change
to their interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.

 

- ENDS -

 

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

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

 Amrit Nahal / Matt Butlin (Sales and Corporate Broking)

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

 FTI Consulting (Financial PR & IR)                        advancedoncotherapy@fticonsulting.com
                                                           (mailto:advancedoncotherapy@fticonsulting.com)
 Simon Conway / Rob Winder                                 Tel: +44 (0) 20 3727 1000

 

 

About Advanced Oncotherapy Plc

 

Advanced Oncotherapy, 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 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 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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