Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that Bracknor Investment Group has advised the Company that they will convert a portion of the first tranche of the Convertible Loan Notes issued to them on 22 February 2017 into new ordinary shares of 25p each in the share capital of the Company. Further details of the conversion are set out below.
- Number of CLN converted: 10
Total nominal value of the CLN converted: £100,000
Conversion price: £0.57
Number of shares issued from the conversion: 174,185
Shares issued for the satisfaction of the conversion fees: 5,225
Application will be made for admission to trading on AIM of the 179,410 new Ordinary Shares deriving from the conversion of the CLN and in satisfaction of the conversion fees and it is expected that Admission will occur on or around 3 March 2017.
Total voting rights
Following Admission, the Company’s enlarged issued share capital will comprise 72,671,698 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 72,671,698. 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 and Transparency Rules.
Advanced Oncotherapy Plc
Dr. Michael Sinclair, Executive Chairman
Tel: +44 20 3617 8728
Nicolas Serandour, CEO
Stockdale Securities (Nomad & Joint Broker)
Antonio Bossi / David Coaten
Tel: +44 20 7601 6100
Stifel Nicolaus Europe (Joint Broker)
Jonathan Senior / Ben Maddison
Tel: +44 20 7710 7600
Walbrook PR (Financial PR & IR)
Tel: +44 20 7933 8780 or email@example.com
Paul McManus / Anna Dunphy
Mob: +44 7980 541 893 / Mob: +44 7876 741 001
About Advanced Oncotherapy Plc www.avoplc.com
Advanced Oncotherapy 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 accelerates protons to the energy levels achieved in legacy machines but in a unit that is a quarter of the size and between a quarter and a fifth of the cost. This compact configuration delivers proton beams in a way that facilitates greater precision and electronic control which is not achievable with older technologies.
Advanced Oncotherapy will offer healthcare providers affordable systems that will enable them to treat cancer with an innovative technology as well as better health outcomes and 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.