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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Advanced Oncotherapy Plc | LSE:AVO | London | Ordinary Share | GB00BD6SX109 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.925 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Medical Laboratories | 0 | -29.49M | -0.0549 | -0.35 | 10.32M |
TIDMAVO
RNS Number : 8981D
Advanced Oncotherapy PLC
26 June 2023
26 June 2023
ADVANCED ONCOTHERAPY PLC
("Advanced Oncotherapy", "AVO" or the "Company")
Partial conversion of Convertible Notes
Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that it has received a conversion notice for a portion of the convertible notes, which were issued to a French counterparty, as announced on 1 March 2023, 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 convertible notes converted: 10 -- Total value of the convertible notes being converted: GBP50,000
-- Conversion price: GBP0.25 being the higher of 90% of the lowest daily VWAP in 15 days preceding conversion notice of GBP 0.0269172 or the nominal value of GBP0.25
-- Number of new Ordinary Shares issued from the conversion: 200,000
As set out in the Company's announcement on 1 March 2023, if the conversion price is below the nominal value of the Ordinary Shares, the Company shall pay the noteholder a conversion fee calculated to compensate for the difference, which may be settled through the issue of new Ordinary Shares or cash. As such, a conversion fee of GBP47,606 (the "Conversion Fee") is to be paid. The Conversion Fee will be settled through the issuance of 1,658,736 new Ordinary Shares.
Application will be made for admission of the 200,000 new Ordinary Shares deriving from the conversion of the convertible notes and the 1,658,736 new Ordinary Shares in satisfaction of the Conversion Fee to trading on AIM ("Admission") and it is expected that Admission will occur on or around 30 June 2023.
Total voting rights
Following Admission, the Company's enlarged issued share capital will comprise 542,573,869 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 542,573,869. 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.
Rule 2.9 disclosure
In accordance with Rule 2.9 of the Takeover Code, AVO confirms that, at the close of business on 23 June 2023 its issued share capital consisted of 540,715,133 If ordinary shares of 25 pence each. The International Securities Identification Number for the Company's ordinary shares is GB00BD6SX109.
Advanced Oncotherapy plc www.avoplc.com Dr. Michael Sinclair, Executive Chairman Tel: +44 (0) 20 3617 8728 Nicolas Serandour, CEO WH Ireland Limited (Financial adviser) Tel: +44 (0) 20 7220 1666 Antonio Bossi / James Bavister AVOPLC@whirelandcm.com Allenby Capital Limited (Nomad and Joint Broker) Nick Athanas / Piers Shimwell (Corporate Tel: +44 (0) 20 3328 Finance) 5656 A mrit Nahal / Matt Butlin (Sales & Corporate Broking) SI Capital Ltd (Joint Broker) Nick Emerson Tel: +44 (0) 1483 413 500 Jon Levinson Tel: +44 (0) 20 3871 4066
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.
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CONEANKKASSDEEA
(END) Dow Jones Newswires
June 26, 2023 05:57 ET (09:57 GMT)
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