Advanced Oncotherapy PLC Conversion of convertible loan notes (5140F)
18 May 2017 - 4:32PM
UK Regulatory
TIDMAVO
RNS Number : 5140F
Advanced Oncotherapy PLC
18 May 2017
18 May 2017
ADVANCED ONCOTHERAPY PLC
("Advanced Oncotherapy" or the "Company")
Conversion of Convertible Loan Notes
Advanced Oncotherapy (AIM: AVO), the developer of
next-generation proton therapy systems for cancer treatment,
announces that Bracknor Investment Group ("Bracknor") has advised
the Company that they will convert a portion of the first tranche
of the Convertible Loan Notes ("CLN") issued to them on 22 February
2017 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 CLN converted: 20
Total nominal value of the CLN
converted: GBP200,000
Lowest VWAP in 15 days preceding
conversion notice: GBP0.2135
Conversion price: GBP0.25
Number of shares issued from
the conversion: 800,000
Shares issued for the satisfaction
of the conversion fees: 24,000
Application will be made for admission to trading on AIM
("Admission") of the 824,000 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 24 May
2017.
Additional fees of c.GBP37,000 are to be paid to reflect the
conversion price being below nominal value of the Ordinary Shares.
These fees may be paid in cash or deducted from the net funds owing
to the Company in the draw down of the next tranche from
Bracknor.
Total voting rights
Following Admission, the Company's enlarged issued share capital
will comprise 77,433,194 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 77,433,194. 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.
Advanced Oncotherapy Plc www.avoplc.com
Dr. Michael Sinclair, Tel: +44 20 3617 8728
Executive Chairman
Nicolas Serandour, CEO
Stockdale Securities (Nomad
& Joint Broker)
Antonio Bossi / David Tel: +44 20 7601 6100
Coaten
Stifel Nicolaus Europe
(Joint Broker)
Jonathan Senior / Ben Tel: +44 20 7710 7600
Maddison
Walbrook PR (Financial Tel: +44 20 7933 8780 or
PR & IR) avo@walbrookpr.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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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