REG - Polarean Imaging PLC - Exercise of Warrants

Polarean ImagingAnnouncement

30/06/2023 07:00

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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
£0.00037 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
(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 Officer                Via Walbrook PR
  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
(http://www.xenoview.net)

 

PLC-RNS-2313

 

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