Advanced Oncotherapy PLC Equity Subscription and Issue of Warrants (5391W)
August 19 2022 - 1:00AM
UK Regulatory
TIDMAVO
RNS Number : 5391W
Advanced Oncotherapy PLC
19 August 2022
PRIOR TO PUBLICATION, THE INFORMATION CONTAINED WITHIN THIS
ANNOUNCEMENT WAS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE
INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE
(AMENDMENT) (EU EXIT) REGULATIONS 2019/310. WITH THE PUBLICATION OF
THIS ANNOUNCEMENT, THIS INFORMATION IS NOW CONSIDERED TO BE IN THE
PUBLIC DOMAIN.
19 August 2022
ADVANCED ONCOTHERAPY PLC
("Advanced Oncotherapy" or the "Company")
E quity Subscription and Issue of Warrants
Total Voting Rights
Advanced Oncotherapy (AIM:AVO), the developer of LIGHT, the
next-generation proton therapy system for cancer treatment,
announces an equity fundraise of GBP1,465,000 before expenses. The
fundraise has been conducted through a direct subscription with the
Company (the "Subscription") for a total of 5,860,000 n ew Ordinary
Shares of 25 pence each (the "Subscription Shares") at a price of
25 pence per share (the "Issue Price"). This Subscription has been
undertaken to accommodate demand from investors who were unable to
participate in fundraises announced on 28 June 2022 and 3 August
2022 (together c.GBP6.57m).
Th e Issue Price represents a premium of 20 per cent to the
closing middle market price of an ordinary share on 18 August 2022
.
Once issued, the Subscription Shares will rank pari passu in all
respects with the existing Ordinary Shares of the Company.
The net proceeds of the Subscription will be used for general
corporate purposes as the Company progresses towards having a fully
operational LIGHT system operating at 230 MeV by the end of summer
2022.
Under the terms of the Subscription, warrants to subscribe for
5,860,000 n ew Ordinary Shares will also be issued on or around 25
August 2022 to subscribers of Subscription Shares with an exercise
price of 25 pence per share, exercisable up until 1 July 2026.
Application has been made for the 5,860,000 Subscription Shares
to be admitted to trading on AIM ("Admission") and it is expected
that Admission will occur on or around 24 August 2022.
Total Voting Rights
Following Admission, the Company's enlarged issued share capital
will comprise 507,231,209 Ordinary Shares, of 25 pence each
("Ordinary Shares") . The Company does not hold any Ordinary Shares
in treasury. Therefore, the total number of Ordinary Shares in the
Company with voting rights on Admission will be 507,231,209. The
aforementioned figure may be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.
- ENDS -
Advanced Oncotherapy plc www.avoplc.com
Dr. Michael Sinclair, Executive Chairman Tel: +44 (0) 20 3617 8728
Nicolas Serandour, CEO
Allenby Capital Limited (Nomad and
Joint Broker)
Nick Athanas / Liz Kirchner (Corporate Tel: +44 (0) 20 3328 5656
Finance)
Amrit Nahal / Matt Butlin (Sales
and Corporate Broking)
SI Capital Ltd (Joint Broker)
Nick Emerson Tel: +44 (0) 1483 413 500
Jon Levinson Tel: +44 (0) 20 3871 4066
FTI Consulting (Financial PR & IR) advancedoncotherapy@fticonsulting.com
Simon Conway / Rob Winder Tel: +44 (0) 20 3727 1000
About Advanced Oncotherapy Plc
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 rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
IOEUWOKRUNUWAAR
(END) Dow Jones Newswires
August 19, 2022 02:00 ET (06:00 GMT)
Advanced Oncotherapy (LSE:AVO)
Historical Stock Chart
From Apr 2024 to May 2024
Advanced Oncotherapy (LSE:AVO)
Historical Stock Chart
From May 2023 to May 2024