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Polarean Imaging PLC

Exercise of Warrants

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RNS Number : 7463U
Polarean Imaging PLC
02 April 2019
 

Polarean Imaging Plc 

("Polarean" or the "Company")

 

Exercise of Warrants

 

Polarean Imaging plc (AIM: POLX), the medicalimaging technology company, with a proprietary drugdevice combination product for the magnetic resonance imaging (MRI) market, announces that it has issued 705,040 new ordinary shares of £0.00037 each in the capital of the Company ("Ordinary Shares") at exercise price of 15 pence per share (the "New Shares"), following the exercise of warrants from certain investors that subscribed for Convertible Loan Notes the Group undertook a pre-Admission fundraise in December 2017.

 

The total consideration received by the Company pursuant to the warrant exercise will be £105,756.

 

Application will be made for the New Shares, which will rank pari passu with existing Ordinary Shares, to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective and dealings will commence at 8:00 a.m. on or around 5 April 2019.

 

Total Voting Rights

 

Following Admission, the total issued share capital of the Company will consist of 101,435,933 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

Richard Morgan, Chairman

 

 

 

SP Angel Corporate Finance LLP

Tel: +44 (0)20 3470 0470

David Hignell / Lindsay Mair / Jamie Spotswood (Corporate Finance)

Vadim Alexandre / Rob Rees (Corporate Broking)

 

 

 

Walbrook PR

Tel: +44 (0)20 7933 8780 or [email protected]

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.

 

 

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Polarean Imaging PLC

Price: £0.24

Market: AIM
Market Cap: £27.64 m
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