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Advanced Oncotherapy #AVO – Peter Gyllenhammar AB shareholding
TR-1: Standard form for notification of major holdings
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NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i |
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1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: |
Advanced Oncotherapy plc |
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1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate) |
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Non-UK issuer |
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2. Reason for the notification (please mark the appropriate box or boxes with an “X”) |
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An acquisition or disposal of voting rights |
X |
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An acquisition or disposal of financial instruments |
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An event changing the breakdown of voting rights |
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Other (please specify)iii: |
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3. Details of person subject to the notification obligationiv |
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Name |
Peter Gyllenhammar |
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City and country of registered office (if applicable) |
Stockholm, Sweden |
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4. Full name of shareholder(s) (if different from 3.)v |
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Name |
Peter Gyllenhammar AB |
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City and country of registered office (if applicable) |
Stockholm, Sweden |
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5. Date on which the threshold was crossed or reachedvi: |
04/04/2018 |
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6. Date on which issuer notified (DD/MM/YYYY): |
04/04/2018 |
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7. Total positions of person(s) subject to the notification obligation |
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% of voting rights attached to shares (total of 8. A) |
% of voting rights through financial instruments |
Total of both in % (8.A + 8.B) |
Total number of voting rights of issuervii |
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Resulting situation on the date on which threshold was crossed or reached |
3.38% |
3.38% |
150,501,673 |
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Position of previous notification (if applicable) |
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8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii |
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A: Voting rights attached to shares |
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Class/type of ISIN code (if possible) |
Number of voting rightsix |
% of voting rights |
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Direct (Art 9 of Directive 2004/109/EC) (DTR5.1) |
Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1) |
Direct (Art 9 of Directive 2004/109/EC) (DTR5.1) |
Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1) |
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5,092,733 |
3.38% |
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SUBTOTAL 8. A |
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B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a)) |
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Type of financial instrument |
Expiration |
Exercise/ |
Number of voting rights that may be acquired if the instrument is exercised/converted. |
% of voting rights |
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SUBTOTAL 8. B 1 |
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B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b)) |
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Type of financial instrument |
Expiration |
Exercise/ |
Physical or cash settlementxii |
Number of voting rights |
% of voting rights |
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SUBTOTAL 8.B.2 |
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9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”) |
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Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii |
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Full chain of controlled undertakings through which the voting rights and/or the |
X |
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Namexv |
% of voting rights if it equals or is higher than the notifiable threshold |
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold |
Total of both if it equals or is higher than the notifiable threshold |
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Peter Gyllenhammar AB |
3.38% |
3.38% |
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10. In case of proxy voting, please identify: |
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Name of the proxy holder |
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The number and % of voting rights held |
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The date until which the voting rights will be held |
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11. Additional informationxvi |
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Place of completion |
Stockholm, Sweden |
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Date of completion |
04/04/2018 |
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.