Advanced Oncotherapy PLC Further re funding for first LIGHT system (0490O)
September 30 2019 - 1:02AM
UK Regulatory
TIDMAVO
RNS Number : 0490O
Advanced Oncotherapy PLC
30 September 2019
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.
ADVANCED ONCOTHERAPY PLC
("Advanced Oncotherapy" or the "Company")
Further re funding for first LIGHT system
Advanced Oncotherapy (AIM: AVO), the developer of
next-generation proton therapy systems for cancer treatment, is
pleased to provide an update to its announcement of 7 August 2019
regarding funding for progressing verification and validation
activity in order to obtain regulatory approval of its first LIGHT
system.
The Company is pleased to announce that, due to additional
investor demand, the final tranche of the equity fundraise
announced on 7 August 2019 has been increased from GBP2.5 million
to approximately GBP2.9 million. This will result in the issue of
7,364,162 new ordinary shares of 25 pence each ("New Ordinary
Shares") at a price of 40 pence per share (the "Issue Price").
72,912 of these New Ordinary Shares are being issued to a financial
adviser in lieu of fees in relation to the fundraising.
Application will be made to the London Stock Exchange for the
New Ordinary Shares to be admitted to trading on AIM ("Admission").
It is expected that Admission will take place on or around 7
October 2019.
Total Voting Rights
Upon Admission, the Company's enlarged issued share capital will
comprise 237,592,656 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 237,592,656. The aforementioned 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.
Enquiries:
Advanced Oncotherapy Plc www.avoplc.com
Dr. Michael Sinclair, Executive Tel: +44 (0)20 3617 8728
Chairman
Nicolas Serandour, CEO
Allenby Capital Limited (Nominated Adviser
& Joint Broker)
Nick Athanas / Liz Kirchner / Nicholas Chambers Tel: +44 (0)20 3328 5656
Stifel Nicolaus Europe (Joint
Broker)
Jonathan Senior Tel: +44 (0)20 7710 7600
Walbrook PR (Financial PR Tel: +44 (0)20 7933 8780 or avo@walbrookpr.com
& IR)
Paul McManus / Anna Dunphy Mob: +44 (0)7980 541 893 / Mob: +44 (0)7876
741 001
About Advanced Oncotherapy Plc www.avoplc.com
Advanced Oncotherapy is a provider of particle therapy in the
treatment of cancer, which harnesses the very best in modern
technology. Advanced Oncotherapy's R&D team, ADAM, in Geneva,
focuses on the development of a proprietary proton accelerator -
LIGHT (Linac Image Guided Hadron Technology). LIGHT accelerates
protons to the energy levels achieved in legacy machines but in a
compact and truly modular unit, offering significant cost
advantages. LIGHT also delivers proton beams in a way that
facilitates greater precision and electronic control, which are not
achievable with currently available alternative technologies.
Advanced Oncotherapy will offer healthcare providers affordable
systems that will enable them to treat cancer with an innovative
technology, offering better health outcomes and lower treatment
related side effects.
Advanced Oncotherapy continually monitors the market for any
emerging improvements in delivering proton or particle therapy and
actively seeks working relationships with providers of these
innovative technologies. Through these relationships, the Company
will remain the prime provider of cutting edge, cost-effective
systems for particle therapy.
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 rns@lseg.com or visit www.rns.com.
END
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