9 May 2024
ADVANCED ONCOTHERAPY PLC
("Advanced Oncotherapy", "AVO" or the "Company")
Cancellation of admission to trading on AIM
Further to the Company's announcement released on 3 May 2024, Advanced Oncotherapy (AIM: AVO), the developer of LIGHT, the next-generation proton therapy system for cancer treatment, announces that pursuant to Rule 41 of the AIM Rules for Companies ("AIM Rules"), and with the Ordinary Shares of the Company having been suspended for more than six months, the Company's admission to trading on AIM will be cancelled with effect from 7.00 a.m. on 9 May 2024 ("Cancellation").
As announced by the Company on 3 May 2024, the Company continues to make progress on the proposed financing transaction with a third-party investor and notwithstanding the previous delays encountered, the Company remains confident of receiving the initial tranche of funding of $15 million by the end of May 2024. Whilst the board of the Company is hopeful of a satisfactory outcome there can be no guarantee that this funding will be received nor the quantum or timing thereof.
Upon the Cancellation becoming effective, Allenby Capital has ceased to be nominated adviser to the Company pursuant to the AIM Rules, however the Company will remain subject to the Takeover Code.
Notwithstanding that the Company will no longer be subject to the AIM Rules, the AVO board is committed to keeping shareholders abreast of developments and will continue to publish news of these developments on its website as appropriate.
| Advanced Oncotherapy Plc | |
| Dr. Michael Sinclair, Executive Chairman | Tel: +44 (0) 20 3617 8728 |
| Nicolas Serandour, CEO | |
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| WH Ireland Limited (Financial adviser) | Tel: +44 (0) 20 7220 1666 |
| Antonio Bossi / James Bavister | AVOPLC@whirelandcm.com |
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| Allenby Capital Limited (Nomad and Joint Broker) | |
| Nick Athanas / Piers Shimwell (Corporate Finance) Amrit Nahal / Matt Butlin (Sales & Corporate Broking) | Tel: +44 (0) 20 3328 5656 |
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| SI Capital Ltd (Joint Broker) | |
| Nick Emerson | Tel: +44 (0) 1483 413 500 |
| Jon Levinson | Tel: +44 (0) 20 3871 4066 |
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About Advanced Oncotherapy Plc www.avoplc.com
Advanced Oncotherapy Plc, 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 Plc 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 Plc 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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