Issue of Equity
1 December 2022
ADVANCED ONCOTHERAPY PLC
("Advanced Oncotherapy" or the "Company")
Issue of Equity
Advanced Oncotherapy (AIM:AVO), the developer of LIGHT, the next-generation proton therapy system for cancer treatment, announces that the Company has agreed to issue a total of 250,000 new ordinary shares of 25 pence in the Company ("New Ordinary Shares") as non-cash consideration at an issue price of price 25 pence per share (the "Issue Price") in lieu of fees due to a financial adviser. The financial adviser has opted for his remuneration, which relates to work performed for the quarterly period ended 29 November 2022, to be settled through the issue of New Ordinary Shares.
The Issue Price represents a premium of 47.1 per cent to the closing middle market price of an ordinary share on 30 November 2022.
Once issued, the New Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares of the Company.
Application has been made for the 250,000 New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or about 2 December 2022.
Total voting rights
Following Admission, the Company's enlarged issued share capital will comprise 531,481,209 ordinary shares of 25 pence each, with one voting right per share ("Ordinary Shares"). The Company does not hold any ordinary shares in treasury and therefore the total number of Ordinary Shares with voting rights in the Company is 531,481,209.
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.
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Advanced Oncotherapy plc
Dr Michael Sinclair, Executive Chairman
Tel: +44 (0) 20 3617 8728
Nicolas Serandour, CEO
Allenby Capital Limited (Nomad and Joint Broker)
Nick Athanas / Piers Shimwell (Corporate Finance)
Amrit Nahal / Matt Butlin (Sales & Broking)
Tel: +44 (0) 20 3328 5656
SI Capital Ltd (Joint Broker)
Tel: +44 (0) 1483 413 500
Tel: +44 (0) 20 3871 4066
FTI Consulting (Financial PR & IR)
Simon Conway / Rob Winder
Tel: +44 (0) 20 3727 1000
Notes for Editors
About Advanced Oncotherapy Plc www.avoplc.com
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.