Polarean Imaging PLC Grant of Share Options (0386A)
23 Mayo 2019 - 9:26AM
UK Regulatory
TIDMPOLX
RNS Number : 0386A
Polarean Imaging PLC
23 May 2019
Polarean Imaging Plc
("Polarean" or the "Company")
Grant of Share Options
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 upon the
recommendation of the Company's Remuneration Committee it has
granted options over a total of 1,200,000 ordinary shares of
0.00037p each in the Company ("Ordinary Shares") to Chuck Osborne,
Chief Financial Officer (the "Options").
The exercise price for the Options is 15 pence and 25% of the
Options shall vest on 29 April 2020, whilst the remaining 75% of
the Options shall vest in equal portions on the last day of each
calendar month over the period of 36 months, starting on 31 May
2020.
Following the grant of the Options referred to above, there are
22,394,131 outstanding options and warrants over Polarean's
Ordinary Shares, representing 18% of the Company's Ordinary Shares
and total voting rights on a fully diluted basis.
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 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 medical
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 and less harmful to the patient
than current methods. The annual burden of pulmonary disease in the
US is estimated to be over US$150 billion.
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 optimise 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) Names Charles F Osborne Jr
-------------------------- ----------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status CFO (Non-Board)
-------------------------- ----------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name Polarean Imaging Plc ("Polarean")
-------------------------- ----------------------------------------
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 Options over Polarean's ordinary shares
financial instrument, of GBP0.0037p each (the "Options")
type of instrument
-------------------------- ----------------------------------------
b) Identification code GB00BF3DT583
-------------------------- ----------------------------------------
c) Nature of the transaction Grant of Options
-------------------------- ----------------------------------------
d) Price and volumes Exercise Price - 15p per Option
Volume of Options: 1,200,000
-------------------------- ----------------------------------------
d) Aggregated information Volume: 1,200,000 Options
- Aggregated volume Price: Each Option has an exercise
- Price price of 15p
-------------------------- ----------------------------------------
e) Date of the transaction 23 May 2019
-------------------------- ----------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
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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
DSHSEDFLDFUSEEI
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