TIDMPOLX
RNS Number : 4615E
Polarean Imaging PLC
30 June 2023
Polarean Imaging Plc
("Polarean" or the "Company")
Exercise of Warrants, PDMR Dealing, Issue of Equity and Total
Voting Rights
Polarean Imaging plc (AIM: POLX), the medical imaging technology
company, announces that it has received notification from Mr.
Kenneth West, Chairman of the Company, to exercise 852,822 warrants
over ordinary shares in the Company (the "Warrants"). These
warrants representing 852,822 ordinary shares of GBP0.00037 each in
the capital of the Company ("Ordinary Shares") had an original
expiry date of 2 June 2023 that was extended to 31 July 2023, as
announced in an RNS date 2 June 2023. These warrants have an
exercise price of US$0.00412 per Ordinary Share.
After the exercise of the Warrants, Mr. Kenneth West holds a
total of 1,328,416 ordinary shares, 1,948,262 warrants over
ordinary shares of the Company and options for 2,263,218 ordinary
shares.
The 852,822 new Ordinary Shares have been issued and admitted to
trading on AIM pursuant to the Block Listing announced by the
Company on 23 July 2021. The new Ordinary Shares will rank pari
passu with the existing Ordinary Shares.
Notifications have been made in accordance with the requirements
of the UK Market Abuse Regulation in respect of the PDMR and
further details can be found by following this link:
https://www.polarean-ir.com/content/investors/shareholder-information
Total voting rights
Following the issue and allotment of the Ordinary Shares, the
Company's issued share capital comprises 213,900,331 Ordinary
Shares. The Company does not hold any Ordinary Shares in treasury.
Therefore, the total number of voting rights in the Company is
213,900,331.
The figure of 213,900,331 may be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change of 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.
Enquiries:
Polarean Imaging plc www.polarean.com / www.polarean-ir.com
Christopher von Jako, Chief Executive Via Walbrook PR
Officer
Kenneth West, Chairman
Stifel Nicolaus Europe Limited (NOMAD and
Sole Corporate Broker) +44 (0)20 7710 7600
Nicholas Moore / Samira Essebiyea / Kate Hanshaw (Healthcare
Investment Banking)
Nick Adams / Nick Harland (Corporate Broking)
Walbrook PR Tel: +44 (0)20 7933 8780 or polarean@walbrookpr.com
Anna Dunphy / Phillip Marriage Mob: +44 (0)7876 741 001 / +44 (0)
7867 984 082
About Polarean (www.polarean.com)
The Company and its wholly owned subsidiary, Polarean, Inc.
(together the "Group") are revenue-generating, medical imaging
technology companies operating in the high-resolution medical
imaging space. Polarean aspires to revolutionise pulmonary medicine
by bringing the power and safety of MRI to the respiratory
healthcare community in need of new solutions to evaluate lung
ventilation, diagnose disease, characterise disease progression,
and monitor response to treatment. By researching, developing, and
commercialising novel imaging solutions with a non-invasive and
radiation-free functional imaging platform. Polarean's vision is to
help address the global unmet medical needs of more than 500
million patients worldwide suffering with chronic respiratory
disease. Polarean is a leader in the field of hyperpolarisation
science and has successfully developed the first and only
hyperpolarised MRI contrast agent to be approved in the United
States. On Dec. 23, 2022, the FDA granted approval for Polarean's
first drug device combination product, XENOVIEW(TM) (Xenon Xe(129)
hyperpolarised). Xe(129) MRI is also currently being studied for
visualisation and quantification of gas exchange regionally in the
smallest airways of the lungs, across the alveolar tissue membrane,
and into the pulmonary bloodstream for future clinical
indications.
XENOVIEW IMPORTANT SAFETY INFORMATION
Warnings and Precautions
Risk of Decreased Image Quality from Supplemental Oxygen:
Supplemental oxygen administered simultaneously with XENOVIEW
inhalation can cause degradation of image quality. For patients on
supplemental oxygen, withhold oxygen inhalation for two breaths
prior to XENOVIEW inhalation, and resume oxygen inhalation
immediately following the imaging breath hold.
Risk of Transient Hypoxia: Inhalation of an anoxic gas such as
XENOVIEW may cause transient hypoxemia in susceptible patients.
Monitor all patients for oxygen desaturation and symptoms of
hypoxemia and treat as clinically indicated.
Adverse Reactions
Adverse Reactions in Adult Patients: The adverse reactions (>
one patient) in efficacy trials were oropharyngeal pain, headache,
and dizziness. Adverse Reactions in Pediatric and Adolescent
Patients: In published literature in pediatric patients aged 6 to
18, transient adverse reactions were reported: blood oxygen
desaturation, heart rate elevation, numbness, tingling, dizziness,
and euphoria. In at least one published study of pediatric patients
aged 6 to 18 years, transient decrease in SpO2% and transient
increase in heart rate was reported following hyperpolarized xenon
Xe 129 administration. XENOVIEW is not approved for use in
pediatric patients less than 12 years of age.
Please see full prescribing information at www.xenoview.net
PLC-RNS-2313
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END
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