Advanced Oncotherapy (LSE:AVO)
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RNS Number : 3272D

Advanced Oncotherapy PLC

26 April 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 
 Conversion price: GBP0.2589 
 Number of shares issued from the conversion: 
  772,499 
 Shares issued for the satisfaction of the 
  conversion fees: 23,174 
 
 

Application will be made for admission to trading on AIM ("Admission") of the 795,673 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 2 May 2017.

Total voting rights

Following Admission, the Company's enlarged issued share capital will comprise 74,951,861 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 74,951,861. 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, Executive                         Tel: +44 20 3617 8728 
   Chairman 
  Nicolas Serandour, CEO 
 
  Stockdale Securities (Nomad & 
   Joint Broker) 
  Antonio Bossi / David Coaten                            Tel: +44 20 7601 6100 
 
  Stifel Nicolaus Europe (Joint 
   Broker) 
  Jonathan Senior / Ben Maddison                          Tel: +44 20 7710 7600 
 
  Walbrook PR (Financial PR & IR)   Tel: +44 20 7933 8780 or 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

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April 26, 2017 02:00 ET (06:00 GMT)