Last checked at 1 Jun 2020 07:00
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 that it has received notification from a warrant holder to exercise warrants representing 534,400 ordinary shares of £0.00037 each in the capital of the Company ("Ordinary Shares"). The exercise price of the warrants was 0.003p per warrant.
Application has been made for the 534,400 new Ordinary Shares to be admitted to trading on AIM ("Admission"), which is expected to occur at 8.00 a.m. on 2 June 2020. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares. The Company does not hold any Ordinary Shares in treasury.
Total Voting Rights
Following Admission, the total issued share capital of the Company will consist of 161,830,007 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 Officer Jonathan Allis, Chairman | Via Walbrook PR
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SP Angel Corporate Finance LLP Nomad and Broker | Tel: +44 (0)20 3470 0470 | |||
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 (129Xe) 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.