REG - Advanced Oncotherapy - Partial conversion of Convertible Notes

Advanced OncotherapyAnnouncement

19/06/2023 18:00

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RNS Number : 2156D  Advanced Oncotherapy PLC  19 June 2023

 

19 June 2023

ADVANCED ONCOTHERAPY PLC

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

 

Partial conversion of Convertible Notes

 

Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton
therapy systems for cancer treatment, announces that it has received a
conversion notice for a portion of the convertible notes, which were issued to
a French counterparty, as announced on 1 March 2023, into new ordinary shares
of 25p each in the share capital of the Company ("Ordinary Shares"). Further
details of the conversion are set out below:

·      Number of convertible notes converted: 20

·      Total value of the convertible notes being converted: £100,000

·      Conversion price: £0.25 being the higher of 90% of the lowest
daily VWAP in 15 days preceding conversion notice of £ 0.0439965 or the
nominal value of £0.25

·      Number of new Ordinary Shares issued from the conversion:400,000

 

As set out in the Company's announcement on 1 March 2023, if the conversion
price is below the nominal value of the Ordinary Shares, the Company shall pay
the noteholder a conversion fee calculated to compensate for the difference,
which may be settled through the issue of new Ordinary Shares or cash. As
such, a conversion fee of £91,266 (the "Conversion Fee") is to be paid. The
Conversion Fee will be settled through the issuance of 1,877,904 new Ordinary
Shares.

Application will be made for admission of the 400,000 new Ordinary Shares
deriving from the conversion of the convertible notes and the 1,877,904 new
Ordinary Shares in satisfaction of the Conversion Fee to trading on AIM
("Admission") and it is expected that Admission will occur on or around 23
June 2023.

Total voting rights

Following Admission, the Company's enlarged issued share capital will comprise
540,715,133 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 540,715,133. 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 Guidance and Transparency Rules.

Rule 2.9 disclosure

In accordance with Rule 2.9 of the Takeover Code, AVO confirms that, at the
close of business on 16 June 2023 its issued share capital consisted of
538,437,229 ordinary shares of 25 pence each. The International Securities
Identification Number for the Company's ordinary shares is GB00BD6SX109.

 

 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 (mailto: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 (http://www.avoplc.com/)

 

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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