REG - Polarean Imaging PLC - Extension of Warrants

Polarean ImagingAnnouncement

02/06/2023 07:00

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RNS Number : 4060B  Polarean Imaging PLC  02 June 2023

Polarean Imaging Plc

("Polarean" or the "Company")

 

Extension of Warrants

 

Polarean Imaging plc (AIM: POLX), the medical imaging technology company,
announces that the Board has approved the extension of the expiry date of
852,822 warrants over ordinary shares in the Company (the "Warrants"), held by
Mr. Kenneth West, Chairman of the Company, to 31 July 2023 from their current
expiry date of 2 June 2023. The Warrants were issued on 3 June 2013 to a
consulting group for which Mr. West was a partner and subsequently assigned to
Mr. West. All other terms of the Warrants remain unchanged.

 

The extension of the expiry date for the Warrants amounts to a related party
transaction within the meaning of the AIM Rules for Companies. The Directors
who are independent of the related party transaction (being all the Directors
of the Company other than Mr. Kenneth West) having consulted with Stifel, the
Company's nominated adviser, consider this proposed extension of the expiry
date to be fair and reasonable insofar as the shareholders of the Company are
concerned.

 

Mr. Kenneth West holds a total of 2,801,084 warrants over ordinary shares of
the Company. In addition, Kenneth also holds options for 2,263,218 shares and
475,594 ordinary shares.

 

Enquiries:

  Polarean Imaging plc                                         www.polarean.com / www.polarean-ir.com
  Richard Hullihen, 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)

 

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