TIDMPOLX
RNS Number : 4597I
Polarean Imaging PLC
01 April 2020
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM
AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR THE
UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE,
PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMATION,
OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE
OR DISPOSE OF ANY SECURITIES IN POLAREAN IMAGING PLC OR ANY OTHER
ENTITY IN ANY JURISDICTION.
1 April 2020
Polarean Imaging Plc
("Polarean" or the "Company")
Result of General Meeting & Completion of Fundraise
Polarean Imaging plc (AIM: POLX), the medical-imaging technology
company, with a proprietary drug-device combination product for the
magnetic resonance imaging (MRI) market, is pleased to announce
that all the Resolutions set out in the circular dated 13 March
2020 (the "Circular"), were duly passed at the General Meeting of
the Company held in Durham, North Carolina earlier today.
The Resolutions include those necessary to implement the
Fundraise to raise a total of GBP8.4 million (before expenses),
which includes the GBP2.2 million subscription from new strategic
investor Bracco Imaging S.p.A.
Admission to AIM
Following the announcement made on 13 March 2020 and the passing
of the Resolutions at the General Meeting today, the 46,624,997
Fundraise Shares will be admitted to trading on AIM at 8.00 a.m. on
2 April 2020. The Fundraise Shares will rank pari passu in all
respects with the existing Ordinary Shares of the Company.
Directors' Shareholdings
Jonathan Allis, the Company's Chairman subscribed for a total of
555,555 Fundraise Shares at the Fundraise Price. Following
Admission, the interests (all of which are beneficial unless
otherwise stated), whether direct or indirect, of the Directors and
their families (within the meaning set out in the AIM Rules) in the
issued share capital of the Company and the existence of which is
known to or could, with reasonable diligence, be ascertained by the
Directors, are as follows:
Immediately following
Prior to Fundraise Admission
-------------------------- ------------------------------
Percentage
No of issued of issued No of issued Percentage
Ordinary Ordinary Ordinary of Enlarged
Name Shares Shares Shares Share Capital
------------- ----------- ------------- ---------------
Jonathan Allis 1,877,574 1.6 2,433,129 1.5
Richard Hullihen 2,928,899 2.6 2,928,899 1.8
Kenneth West 475,594 0.5 475,594 0.3
Bastiaan Driehuys 12,267,503 12.2 12,267,503 7.6
Significant Shareholders
Certain significant shareholders also conditionally subscribed
for Fundraise Shares. Following Admission, the Directors are aware
of the following persons who, directly or indirectly, are
interested in three per cent. or more of the Company's existing
Ordinary Share Capital:
Immediately following
Prior to Fundraise Admission
-------------------------- ------------------------------
Percentage
No of issued of issued No of issued Percentage
Ordinary Ordinary Ordinary of Enlarged
Name Shares Shares Shares Share Capital
------------- ----------- ------------- ---------------
Amati Global Investors 12,460,318 10.9 23,571,429 14.6
Bastiaan Driehuys 12,267,503 10.7 12,267,503 7.6
NUKEM Isotopes Imaging
GmbH 11,234,208 9.8 11,234,208 7.0
W.B. Nominees Limited 8,227,335 7.2 8,423,225 5.2
John Sudol 7,542,121 6.6 7,542,121 4.7
Bracco 0 0 12,222,222 7.6
Chelverton Asset Management
Ltd 0 0 7,777,778 4.8
Haregreave Hale Limited 0 0 5,555,555 3.4
* The percentages shown are based on the most recent share
register analysis or latest date of notification
Total Voting Rights
Following Admission, the Company will have a total of
161,295,607 Ordinary Shares in issue with each Ordinary Share
carrying the right of one vote. The above figure may be used by
shareholders as the denominator for the calculation by which they
will determine if they are required to notify their interest in, or
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.
Unless otherwise defined in this announcement, capitalised words
and phrases used in this announcement shall have the same meanings
given to them in the Circular.
Enquiries:
Polarean Imaging plc www.polarean.com / www.polarean-ir.com
Richard Hullihen, Chief Executive Via Walbrook PR
Officer
SP Angel Corporate Finance LLP Tel: +44 (0)20 3470 0470
David Hignell / Soltan Tagiev
(Corporate Finance)
Vadim Alexandre / Rob Rees (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's Technology
Polarean's technology produces hyperpolarized inert Xenon gas,
used in conjunction with standard MRI to create high-resolution
three-dimensional functional maps of the human lung. This technique
provides a unique and sensitive way to monitor changes in lung
structure and function; it is currently used in basic and clinical
research to study lung physiology and to monitor the efficacy of
new drugs.
The central equipment required for hyperpolarized gas MRI is a
polarizer. Using circularly polarized laser light, the polarizer
transforms the inert, stable noble gas isotope (129) Xenon into its
hyperpolarized state. This process leaves the gas chemically
unchanged, while only the nucleus is magnetically aligned. The
resulting MRI signal is enhanced by a factor of 100,000, making
direct imaging of gas atoms possible.
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
specializes in the use of hyperpolarized Xenon gas ( (129) Xe) as
an imaging agent to visualize ventilation. (129) Xe gas is
currently being studied for visualization of 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 also develops and manufactures high performance MRI
radiofrequency (RF) coils which are a required component for
imaging (129) Xe in the MRI system. The development of these coils
by the Group facilitates the adoption of the Xenon technology by
providing application-specific RF coils which optimize the imaging
of (129) Xe in MRI equipment for use as a medical diagnostic as
well as a method of monitoring the efficacy of therapeutic
intervention.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM:
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Dr Jonathan Allis
-------------------------------------- -------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status: Chairman
-------------------------------------- -------------------------------
b) Initial notification/Amendment: Initial notification
-------------------------------------- -------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name: Polarean Imaging Plc
-------------------------------------- -------------------------------
b) LEI: 213800DGR2BHXJ36OL37
-------------------------------------- -------------------------------
4. Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
-----------------------------------------------------------------------
a) Description of the financial Ordinary shares of
instrument, type of instrument: GBP0.00037
Identification code:
GB00BF3DT583
-------------------------------------- -------------------------------
b) Nature of the transaction: Subscription for new
ordinary shares
-------------------------------------- -------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
18.0 pence 555,555
----------
-------------------------------------- -------------------------------
d) Aggregated information: Price(s) Volume(s)
Aggregated volume: 18.0 pence 555,555
Price:
-------------------------------------- -------------------------------
e) Date of the transaction: 1 April 2020
-------------------------------------- -------------------------------
f) Place of the transaction: Off-market
-------------------------------------- -------------------------------
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
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END
ROMUPUUWCUPUGCG
(END) Dow Jones Newswires
April 01, 2020 10:32 ET (14:32 GMT)
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