Polarean Imaging PLC Exercise of Warrants (5883E)
02 March 2020 - 6:00PM
UK Regulatory
TIDMPOLX
RNS Number : 5883E
Polarean Imaging PLC
02 March 2020
Polarean Imaging Plc
("Polarean" or the "Company")
Exercise of Warrants
Polarean Imaging plc (AIM: POLX), the medical--imaging
technology company, with a proprietary drug--device combination
product for the magnetic resonance imaging (MRI) market, announces
that it has issued 232,010 new ordinary shares of GBP0.00037 each
in the capital of the Company ("Ordinary Shares") at par value (the
"New Shares"), following the exercise of warrants by Amphion
Innovations plc ("Amphion").
The consideration received by the Company pursuant to the
warrant exercise will be approximately US$45,000.
Application will be made for the New Shares, which will rank
pari passu with existing Ordinary Shares, to be admitted to trading
on AIM ('Admission'). It is expected that Admission will become
effective and dealings will commence at 8:00 a.m. on or around 6
March 2020.
Following Admission, Amphion will hold 232,010 Ordinary Shares,
representing 0.2% of the Company's issued share capital with voting
rights. After this exercise, Amphion does not hold any Polarean
warrants.
Total Voting Rights
Following Admission, the total issued share capital of the
Company will consist of 114,670,610 Ordinary Shares. This number
may be used by shareholders as the denominator for the calculations
by which they will determine if they are required to notify their
interest, or a change to their interest in, the Company under the
FCA's Disclosure Guidance and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
Contacts:
Polarean Imaging plc www.polarean.com / www.polarean-ir.com
Richard Hullihen, Chief Executive Via Walbrook PR
Officer
Jonathan Allis, Chairman
SP Angel Corporate Finance LLP Nomad Tel: +44 (0)20 3470 0470
and Broker
David Hignell / Soltan Tagiev (Corporate
Finance)
Vadim Alexandre / Rob Rees (Corporate
Broking)
Walbrook PR Tel: +44 (0)20 7933 8780 or polarean@walbrookpr.com
Paul McManus / Anna Dunphy Mob: +44 (0)7980 541 893 / +44 (0)7879
741 001
About Polarean ( www.polarean.com )
The Company and its wholly owned subsidiary, Polarean, Inc.
(together the "Group") are revenue generating, medical drug-device
combination companies operating in the high resolution functional
magnetic resonance imaging market.
The Group develops equipment that enables existing MRI systems
to achieve an improved level of pulmonary function imaging and
specialises in the use of hyperpolarised Xenon gas ((129) Xe) as an
imaging agent to visualise ventilation and gas exchange regionally
in the smallest airways of the lungs, the tissue barrier between
the lung and the bloodstream and in the pulmonary vasculature.
Xenon gas exhibits solubility and signal properties that enable it
to be imaged within other tissues and organs.
The Group operates in an area of significant unmet medical need
and the Group's technology provides a novel diagnostic approach,
offering a non-invasive and radiation-free functional imaging
platform which is more accurate than current methods. The annual
burden of pulmonary disease in the US is estimated to be over
US$150 billion.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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