REG - Advanced Oncotherapy - Equity Subscription and Issue of Warrants

Advanced OncotherapyAnnouncement

13/06/2022 07:00

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RNS Number : 5608O  Advanced Oncotherapy PLC  13 June 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.

 

13 June 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
£800,000 before expenses. The fundraise has been conducted through a direct
subscription with the Company (the "Subscription") for a total of 3,200,000
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 10 June 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.

 

Under the terms of the Subscription, warrants to subscribe for 3,200,000 New
Ordinary Shares will also be issued on or around 17 June 2022 to subscribers
of Subscription Shares with an exercise price of 25 pence per share,
exercisable up until 17 June 2026.

 

Application has been made for the 3,200,000 Subscription Shares to be admitted
to trading on AIM ("Admission") and it is expected that Admission will occur
on or around 16 June 2022.

 

Total Voting Rights

 

Following Admission, the Company's enlarged issued share capital will comprise
473,352,211 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 Admission will be
473,352,211. The aforementioned figure 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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