Subscription to raise c.GBP 2.7 million
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
20 November 2019
ADVANCED ONCOTHERAPY PLC
("Advanced Oncotherapy" or the "Company")
Subscription to raise c.£2.7 million
Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, is pleased to announce an equity fundraise of approximately £2.7 million which will contribute to the funding for progressing verification and validation activity in order to obtain regulatory approval of its first LIGHT system.
A total of 6,825,000 new ordinary shares of 25 pence each ("Ordinary Shares") will be issued at a price of 40 pence per share (the "Subscription Shares"). In addition, 5,750 Ordinary Shares will be issued to a financial adviser in lieu of fees in relation to the fundraising (the "Fee Shares").
Application will be made to the London Stock Exchange for 6,250,000 of the Subscription Shares to be admitted to trading on AIM ("First Admission"), with First Admission expected to take place on or around 27 November 2019.
Application will be made to the London Stock Exchange for the remaining 575,000 Subscription Shares and the Fee Shares to be admitted to trading on AIM ("Second Admission"), with Second Admission expected to take place on or around 16 December 2019.
Total voting rights
Upon First Admission, the Company's enlarged issued share capital will comprise 243,842,656 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 243,842,656.
Upon Second Admission, the Company's enlarged issued share capital will comprise of 244,423,406 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 244,423,406.
These figures 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.
- ENDS -
Advanced Oncotherapy plc
Dr. Michael Sinclair, Executive Chairman
Tel: +44 (0) 20 3617 8728
Nicolas Serandour, CEO
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Allenby Capital Limited (Nomad & Broker)
Nick Athanas / Liz Kirchner / Nicholas Chambers
Tel: +44 (0) 20 7601 6100
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FTI Consulting (Financial PR & IR)
Simon Conway / Rob Winder
Tel: +44 (0) 20 3727 1000
Notes for Editors
About Advanced Oncotherapy Plc - 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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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Market Cap: £91.05 m
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