(Alliance News) - Amphion Innovations PLC on Thursday said it has sold 750,000 shares in partner company Polarean Imaging PLC for partial repayment of a loan facility.
The company netted USD2.3 million from the Polarean share sale. The shares were sold between Monday last week and Wednesday.
The developer of medical, life science, and technology businesses said it now holds 16.0 million Polarean shares following the sale, representing a 14% interest.
Amphion currently owes Polarean USD3.3 million and expects to repay the outstanding loan at the end of September 2020.
Amphion shares were suspended on June 27 as it failed to publish its audited financial statements for 2018.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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polarean (POLX)