Home » Advanced Oncotherapy (AVO) » Advanced Oncotherapy (AVO) – Result of AGM and share consolidation

Advanced Oncotherapy (AVO) – Result of AGM and share consolidation

AVO1Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that at the Annual General Meeting held earlier today, all resolutions were duly passed.

Share Consolidation

Following the passing of the share consolidation resolution, every 25 existing ordinary shares of 1 penny each (“Existing Ordinary Shares”) that are in issue as at 6.00pm today will be consolidated into one new ordinary share of 25 pence each (“New Ordinary Share”).  Other than the change in nominal value, the New Ordinary Shares arising on implementation of the share consolidation will have the same rights as the Existing Ordinary Shares, including voting and other rights. All existing options and warrants will be consolidated on the same 25-to-1 basis and the Company’s new SEDOL code will be BD6SX10 and its new ISIN code will be GB00BD6SX109. The Company’s TIDM remains unchanged: “AVO”.

A fractional entitlement will arise as a result of the consolidation of shares unless a holding of Existing Ordinary Shares is exactly divisible by 25. For example, a Shareholder holding 255 Existing Ordinary Shares would be entitled to 10 New Ordinary Shares and a fractional entitlement of 0.2 of a New Ordinary Share after the consolidation of shares (“Fractional Entitlement Shares”).  These fractional entitlements may be aggregated and sold in the market at the best price then reasonably obtainable to any person, and the proceeds of sale (net of expenses) may be paid in due proportion among the relevant members entitled thereto (save that any fraction of a penny which would otherwise be payable shall be rounded down in accordance with the usual practice of the registrar of the Company and save that the Company may retain the net proceeds of sale of such Fractional Entitlement Shares where the individual amount of net proceeds to which any member is entitled is less than five pounds (£5.00)).

Save for any adjustment resulting from the Fractional Entitlements, all shareholders and option holders will retain the same percentage interest in the Company post consolidation as previously held. 

Total Voting Rights

Application has been made for the New Ordinary Shares to be admitted to trading on AIM and this is expected to become effective at 8.00am on or around 1 July 2016. With effect from admission, the Company’s issued share capital will comprise 56,780,361 New Ordinary Shares with each share carrying the right to one vote.  There are no shares held in treasury.  The total number of voting rights in the Company is therefore 56,780,361 and this figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure and Transparency Rules.

Shareholders who hold Existing Ordinary Shares in uncertificated form will have their CREST accounts credited with the New Ordinary Shares following Admission on 1 July 2016. Following the Share Capital Reorganisation, existing share certificates will cease to be valid and new share certificates will be despatched to those shareholders who hold their Existing Ordinary Shares in certificated form, on or before 15 July 2016.

For further information, please contact:

Advanced Oncotherapy plc


Michael Sinclair, Chief Executive Officer

Tel: +44 20 3617 8728

Nicolas Serandour, Chief Operating and Financial Officer

Stockdale Securities (Nomad & Joint Broker)

Antonio Bossi / David Coaten

Tel: +44 20 7601 6100

Beaufort Securities (Joint Broker)

Jon Belliss / Elliot Hance

Tel: +44 20 7382 8300

Walbrook PR (Financial PR & IR)

Tel: +44 20 7933 8780 or avo@walbrookpr.com

Paul McManus

Mob: +44 7980 541 893

About Advanced Oncotherapy plc www.avoplc.com

Advanced Oncotherapy is a provider of particle therapy systems with protons that harnesses the best in modern technology. As a result, 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’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 fraction of the size and significantly lower in cost. This compact configuration delivers proton beams in a way that facilitates a greater precision and electronic control which is not achievable with older technologies.

 The Company has signed two purchase agreements with Sinophi Healthcare Limited for the LIGHT proton therapy systems to be installed in hospitals in China. There are also four additional framework agreements and further Letters of Intent from other healthcare providers.

 The Company has also signed a joint venture agreement with CircleHealth, owned by AIM-listed Circle Holdings plc, to operate the Company’s proton beam cancer therapy centre in Harley Street. 

 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.

Leave a comment

I would like to receive Brand Communications updates and news...
Free Stock Updates & News
I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.