Advanced Oncotherapy (AVO) – Conversion of loan notes

Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that Bracknor Investment Group has advised the Company that they will convert a portion of the first tranche of the Convertible Loan Notes issued to them on 22 February 2017 into new ordinary shares of 25p each in the share capital of the Company.  Further details of the conversion are set out below.

Application will be made for admission to trading on AIM (“Admission”) of the 824,000 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 24 May 2017.

Additional fees of c.£37,000 are to be paid to reflect the conversion price being below nominal value of the Ordinary Shares. These fees may be paid in cash or deducted from the net funds owing to the Company in the draw down of the next tranche from Bracknor.

Total voting rights

Following Admission, the Company’s enlarged issued share capital will comprise 77,433,194 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 77,433,194. 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.