Polarean Imaging PLC Exercise of warrants (7278V)
April 16 2021 - 5:01AM
UK Regulatory
TIDMPOLX
RNS Number : 7278V
Polarean Imaging PLC
16 April 2021
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 467,733 ordinary shares of
GBP0.00037 each in the capital of the Company ("Ordinary Shares").
The exercise price of the warrants was 15p per warrant.
Application will be made for the 467,733 new Ordinary Shares to
be admitted to trading on AIM ("Admission"), which is expected to
occur at 8.00 a.m. on or around 22 April 2021. 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 209,033,086 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.
Enquiries:
Polarean Imaging plc www.polarean.com / www.polarean-ir.com
Richard Hullihen, Chief Executive Officer Via Walbrook PR
Jonathan Allis, Chairman
Stifel Nicolaus Europe Limited (NOMAD and +44 (0)20 7710
Sole Corporate Broker) 7600
Nicholas Moore / Ben Maddison / Samira Essebiyea
(Healthcare Investment Banking)
Nick Adams / Fred Walsh (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 medical
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.
In October 2020, the Group submitted a New Drug Application
("NDA") to the FDA for hyperpolarised (129) Xe used to evaluate
pulmonary function and to visualise the lung using MRI. In December
2020, the Group received confirmation of acceptance of its NDA by
the FDA, with a target PDUFA action date of 5 October 2021.
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 and less harmful to the patient
than current methods. The annual burden of pulmonary disease in the
US is estimated to be over US$150 billion.
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END
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