We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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% | 0.00 | - |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Medical Laboratories | 0 | -29.49M | -0.0549 | -0.35 | 10.32M |
TIDMAVO
RNS Number : 4350Z
Advanced Oncotherapy PLC
15 May 2023
15 May 2023
ADVANCED ONCOTHERAPY PLC
("Advanced Oncotherapy", "AVO" or the "Company")
Update on Secured Convertible Note Facility & Loan Extension
Update on Secured Convertible Note Facility
Further to the Company's announcement on 5 May 2023 , Advanced Oncotherapy (AIM:AVO), the developer of LIGHT, the next-generation proton therapy system for cancer treatment, announces that it has received the balance of funds totalling GBP125,000 due under the secured convertible loan agreements entered into by the Company with investors and directors.
As at the date of this announcement total funds of GBP6.345 million have been received from investors under the secured convertible loan note.
As announced on 1 March 2023, and in subsequent updates, the Company is taking steps to raise additional financing including through raising further funds pursuant to the secured convertible loan facility.
Loan Extension
The Company also announces that the repayment date of its GBP10m loan facility with Credit Suisse AG (the "Loan") has been extended to 4 September 2023. The Loan is secured against an aggregated amount of GBP10.5 million. Nerano Pharma Ltd, acting as Third Party Pledgor, placed GBP10 million in a pledged account, with the remainder placed in a pledged account by the Company. Full details of the Loan are set out in the Company's announcement published on 10 May 2019.
The extension of the repayment date of the Loan will allow the Company to focus its financial resources on the strategic review process announced on the 18 April 2023.
Rule 2.9 disclosure
In accordance with Rule 2.9 of the Takeover Code, AVO confirms that, following the receipt of funds under the Secured Convertible Note , it now has 6,345,125 senior secured fixed rate convertible loan notes ("Loan Notes") in issue (as at today's date), which have a maturity date of 11 January 2024 and are convertible into ordinary shares of 25p each in the Company at a conversion price representing a 20% discount to the next equity fund raising undertaken by the Company. The Loan Notes pay an interest rate of 1.25% per month and includes a revenue sharing agreement with Harley Street Centre.
AVO also confirms that as at the close of business on 11 May 2023 its issued share capital consisted of 537,481,209 ordinary shares of 25 pence each. The International Securities Identification Number for the Company's ordinary shares is GB00BD6SX109.
Further updates will be provided as appropriate.
Advanced Oncotherapy plc www.avoplc.com Dr. Michael Sinclair, Executive Tel: +44 (0) 20 3617 Chairman 8728 Nicolas Serandour, CEO WH Ireland Limited (Financial Tel: +44 (0) 20 7220 adviser) 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 Amrit 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.
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
UPDSFLFSIEDSEDI
(END) Dow Jones Newswires
May 15, 2023 06:36 ET (10:36 GMT)
1 Year Advanced Oncotherapy Chart |
1 Month Advanced Oncotherapy Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions