REG - Polarean Imaging PLC - Exercise of Warrants

Polarean ImagingAnnouncement

07/08/2023 07:00

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RNS Number : 4114I  Polarean Imaging PLC  07 August 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), a commercial-stage medical device leader in
advanced MRI scanning of the lungs, announces that it has received
notification from Mr. Kenneth West, Chairman of the Company, to exercise
1,948,262 warrants over ordinary shares in the Company (the "Warrants"). These
warrants representing 1,948,262 ordinary shares of £0.00037 each in the
capital of the Company ("Ordinary Shares") have an exercise price of
US$0.007485 per Ordinary Share. Mr. West has indicated that he does not plan
to sell any of these shares at the present time.

 

After the exercise of the Warrants, Mr. Kenneth West holds a total of
3,276,678 Ordinary Shares and options for 2,263,218 Ordinary Shares.

 

The 1,948,262 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 215,848,593 Ordinary Shares. The Company does not hold
any Ordinary Shares in treasury. Therefore, the total number of voting rights
in the Company is 215,848,593.

 

The figure of 215,848,593 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.   The company also commercialises
systems (such as the HPX hyperpolarisation system), accessories (such as
Xe-specific chest coils and phantoms) and FDA-cleared post-processing software
(to support ventilation defect analysis), to support fully integrated modern
respiratory imaging operations.

 

PLC-RNS-2317

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