TIDMPOLX

RNS Number : 4443O

Polarean Imaging PLC

01 June 2020

Polarean Imaging Plc

("Polarean" or the "Company")

Exercise of Warrants

Polarean Imaging plc (AIM: POLX), the medical--imaging technology company, with a proprietary drug--device combination product for the magnetic resonance imaging (MRI) market, announces that that it has received notification from a warrant holder to exercise warrants representing 534,400 ordinary shares of GBP0.00037 each in the capital of the Company ("Ordinary Shares"). The exercise price of the warrants was 0.003p per warrant.

Application has been made for the 534,400 new Ordinary Shares to be admitted to trading on AIM ("Admission"), which is expected to occur at 8.00 a.m. on 2 June 2020. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares. The Company does not hold any Ordinary Shares in treasury.

Total Voting Rights

Following Admission, the total issued share capital of the Company will consist of 161,830,007 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.

Contacts:

 
 Polarean Imaging plc                                          www.polarean.com / www.polarean-ir.com 
 Richard Hullihen, Chief Executive                                                    Via Walbrook PR 
  Officer 
  Jonathan Allis, Chairman 
 
 SP Angel Corporate Finance LLP Nomad                                        Tel: +44 (0)20 3470 0470 
  and Broker 
 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 ( 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 ((129) Xe) 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 rns@lseg.com or visit www.rns.com.

END

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June 01, 2020 02:00 ET (06:00 GMT)

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