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Advanced Oncotherapy (AVO) – Financing facility provided by significant shareholders
Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that a consortium formed by AB Segulah and other investors has made available a £3.9m loan to the Company. The loan will have a two year maturity and a 12% per annum rolled up interest rate. The Segulah group includes AB Segulah, a significant shareholder of the Company, and a group of Swedish investors, including AFMS Radgivning Och Invest AB, Peter Gyllenhammar AB, Mijesi AB and Emendum AB. Segulah will be issued 15.6 million warrants with a strike price of 25p exercisable at any time over the next five years. Part or all of the loan can be redeemed at any time by the Company at 105% of par value. If an equity financing is carried out by the Company at or above 25p before the end of 2017 the loan can be converted into equity at 25p per share.
Agreement with Bracknor
Bracknor has agreed to waive the requirement for the Company to drawdown the minimum of 10 tranches. The Segulah loan, which is equivalent to three tranches, will entitle Bracknor to receive commitment fees on this amount only at a reduced rate of 2.5%. No further fees are owed to Bracknor.
The Company does not intend to use the Bracknor facility in the future. As part of these arrangements the Company will issue 7 million warrants to Bracknor. These warrants are exercisable at 25p and may be exercised at any time over the next five years.
Commenting, Nicolas Serandour, CEO of Advanced Oncotherapy, said: “The Bracknor financing has been valuable to the Company. I would like to thank them for their flexibility in renegotiating its terms. I am particularly pleased to welcome the support shown by our highly valued Swedish investors and in particular the role that Segulah has played in arranging this new facility. Segulah was our first institutional investor and has participated in every financing since that date. The Company has benefitted not only from their financial support but also from advice grounded in their extensive international Med-Tech expertise.”
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Advanced Oncotherapy Plc |
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Dr. Michael Sinclair, Executive Chairman |
Tel: +44 20 3617 8728 |
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Nicolas Serandour, CEO |
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Stockdale Securities (Nomad & Joint Broker) |
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Antonio Bossi / David Coaten |
Tel: +44 20 7601 6100 |
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Stifel Nicolaus Europe (Joint Broker) |
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Jonathan Senior / Ben Maddison |
Tel: +44 20 7710 7600 |
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Walbrook PR (Financial PR & IR) |
Tel: +44 20 7933 8780 or avo@walbrookpr.com |
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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.
Advanced Oncotherapy (AVO) – 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 has advised the Company that they will convert a portion of the Convertible Loan Notes into new ordinary shares of 25p each in the share capital of the Company. Further details of the conversion are set out below.
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Number of CLN converted: 40 |
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Total nominal value of the CLN converted: £400,000 |
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Lowest VWAP in 15 days preceding conversion notice: £0.1579 Conversion price: £0.25 |
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Number of shares issued from the conversion: 1,600,000 |
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Shares issued for the satisfaction of the conversion fees: 48,000 |
Application will be made for admission to trading on AIM (“Admission”) of the 1,648,000 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 27 June 2017.
Additional fees of c.£190,000 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.
Advanced Oncotherapy’s Board continues to consider financing options that are in the best interests of the Company and its shareholders.
Total voting rights
Following Admission, the Company’s enlarged issued share capital will comprise 80,935,194 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 80,935,194. 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.
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Advanced Oncotherapy Plc |
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|
Dr. Michael Sinclair, Executive Chairman |
Tel: +44 20 3617 8728 |
|
Nicolas Serandour, CEO |
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|
Stockdale Securities (Nomad & Joint Broker) |
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|
Antonio Bossi / David Coaten |
Tel: +44 20 7601 6100 |
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Stifel Nicolaus Europe (Joint Broker) |
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Jonathan Senior / Ben Maddison |
Tel: +44 20 7710 7600 |
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Walbrook PR (Financial PR & IR) |
Tel: +44 20 7933 8780 or avo@walbrookpr.com |
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Paul McManus / Anna Dunphy |
Mob: +44 7980 541 893 / Mob: +44 7876 741 001 |
Advanced Oncotherapy (AVO)- Bracknor waives requirement to call a General Meeting
Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that following discussions with the Company, Bracknor Investment Group has waived the requirement to call a General Meeting proposing a reduction in the nominal value of ordinary shares of 25p each, as had been stipulated in the Circular for the General Meeting on 31 March 2017. This reaffirms Bracknor’s prior and on-going support for the Company and its shareholders.
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Advanced Oncotherapy Plc |
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|
Dr. Michael Sinclair, Executive Chairman |
Tel: +44 20 3617 8728 |
|
Nicolas Serandour, CEO |
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|
Stockdale Securities (Nomad & Joint Broker) |
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|
Antonio Bossi / David Coaten |
Tel: +44 20 7601 6100 |
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Stifel Nicolaus Europe (Joint Broker) |
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|
Jonathan Senior / Ben Maddison |
Tel: +44 20 7710 7600 |
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Walbrook PR (Financial PR & IR) |
Tel: +44 20 7933 8780 or avo@walbrookpr.com |
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Paul McManus / Anna Dunphy |
Mob: +44 7980 541 893 / Mob: +44 7876 741 001 |
Advanced Oncotherapy (AVO) – Conversion of convertible loan notes
Advanced Oncotherapy (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 Convertible Loan Notes into new ordinary shares of 25p each in the share capital of the Company. Further details of the conversion are set out below.
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Number of CLN converted: 25 |
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Total nominal value of the CLN converted: £250,000 |
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Lowest VWAP in 15 days preceding conversion notice: £0.2135 Conversion price: £0.25 |
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Number of shares issued from the conversion: 1,000,000 |
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Shares issued for the satisfaction of the conversion fees: 30,000 |
Application will be made for admission to trading on AIM of the 1,030,000 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 2 June 2017.
Additional fees of c.£40,000 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 79,287,194 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 79,287,194. 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.
|
Advanced Oncotherapy Plc |
|
|
Dr. Michael Sinclair, Executive Chairman |
Tel: +44 20 3617 8728 |
|
Nicolas Serandour, CEO |
|
|
Stockdale Securities (Nomad & Joint Broker) |
|
|
Antonio Bossi / David Coaten |
Tel: +44 20 7601 6100 |
|
Stifel Nicolaus Europe (Joint Broker) |
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|
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 |
Advanced Oncotherapy (AVO) – Update on Bracknor financing
Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that the Company has drawn down the third tranche of £1.3 million (less 5%, in accordance with terms for receipt of 95% of nominal value of each tranche), for proceeds of £1.235 million.
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Advanced Oncotherapy Plc |
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|
Dr. Michael Sinclair, Executive Chairman |
Tel: +44 20 3617 8728 |
|
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 |
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 Convertible Loan Notes into new ordinary shares of 25p each in the share capital of the Company. Further details of the conversion are set out below.
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Number of CLN converted: 20 |
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Total nominal value of the CLN converted: £200,000 |
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Lowest VWAP in 15 days preceding conversion notice: £0.2135 Conversion price: £0.25 |
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Number of shares issued from the conversion: 800,000 |
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Shares issued for the satisfaction of the conversion fees: 24,000 |
Application will be made for admission to trading on AIM 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 30 May 2017.
Additional fees of c.£32,000 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 78,257,194 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 78,257,194. 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.
|
Advanced Oncotherapy Plc |
|
|
Dr. Michael Sinclair, Executive Chairman |
Tel: +44 20 3617 8728 |
|
Nicolas Serandour, CEO |
|
|
|
|
|
Stockdale Securities (Nomad & Joint Broker) |
|
|
Antonio Bossi / David Coaten |
Tel: +44 20 7601 6100 |
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|
|
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Stifel Nicolaus Europe (Joint Broker) |
|
|
Jonathan Senior / Ben Maddison |
Tel: +44 20 7710 7600 |
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|
|
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 |
Brand CEO Alan Green discusses Defenx (DFX) & Advanced Oncotherapy (AVO) on Vox Markets podcast
Brand CEO Alan Green discusses Defenx (DFX) & Advanced Oncotherapy (AVO) with Justin Waite on the Vox Markets podcast. The interview is 36 minutes 20 seconds in.
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.
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Number of CLN converted: 20 |
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Total nominal value of the CLN converted: £200,000 |
|
Lowest VWAP in 15 days preceding conversion notice: £0.2135 Conversion price: £0.25 |
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Number of shares issued from the conversion: 800,000 |
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Shares issued for the satisfaction of the conversion fees: 24,000 |
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.
|
Advanced Oncotherapy Plc |
|
|
Dr. Michael Sinclair, Executive Chairman |
Tel: +44 20 3617 8728 |
|
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 |
Advanced Oncotherapy (AVO) – Conversion of Convertible Loan Notes
Advanced Oncotherapy (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.
|
Number of CLN converted: 20 |
|
Total nominal value of the CLN converted: £200,000 |
|
Lowest VWAP in 15 days preceding conversion notice: £0.2135 Conversion price: £0.25 |
|
Number of shares issued from the conversion: 800,000 |
|
Shares issued for the satisfaction of the conversion fees: 24,000 |
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 19 May 2017.
In meeting the conversion fees, an additional £876 will be paid to Bracknor to cover the difference between the value of Ordinary Shares owed (28,103 shares, based on a conversion price of 21.35p i.e. £6,000) and the value to be allotted (24,000 shares, based on a conversion price of 21.35p i.e. £5,124).
Total voting rights
Following Admission, the Company’s enlarged issued share capital will comprise 76,609,194 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 76,609,194. 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.
|
Advanced Oncotherapy Plc |
|
|
Dr. Michael Sinclair, Executive Chairman |
Tel: +44 20 3617 8728 |
|
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 |
Advanced Oncotherapy (AVO) – Update on Bracknor financing
Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that further to the notification on 22 February 2017, the Company has drawn down the second tranche of £1.3 million (less 5%, in accordance with terms for receipt of 95% of nominal value of each tranche).
Proceeds will continue to be allocated to the Company’s projects and for general working capital purposes. Projects include installation of the LIGHT system at Harley Street; the cost of the redevelopment at Harley Street will be borne by Howard de Walden Estates, as per the original announcement of 28 January 2015.
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Advanced Oncotherapy Plc |
|
|
Dr. Michael Sinclair, Executive Chairman |
Tel: +44 20 3617 8728 |
|
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 |