Advanced Oncotherapy PLC Partial conversion of Convertible Notes (8981D)
June 26 2023 - 5:57AM
UK Regulatory
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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END
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