Corporate News

Polarean Imaging plc (AIM: POLX), a commercial-stage medical device leader in advanced magnetic resonance imaging (“MRI”) of the lungs, announces that it has received notification from Dr. Bastiaan Driehuys, Chief Technology Officer and Director, to exercise 148,456 warrants over ordinary shares in the Company (the “Warrants”). These warrants representing 148,456 ordinary shares of £0.00037 each in the capital of the Company ("Ordinary Shares") have an exercise price of US$0.00037 per Ordinary Share. Dr. Driehuys has indicated that he does not plan to sell any of these shares at the present time.

After the exercise of the Warrants, Dr. Driehuys holds a total of 12,415,959 Ordinary Shares and options for 1,686,000 Ordinary Shares.

The 148,456 new Ordinary Shares have been issued and admitted to trading on AIM pursuant to the Block Listing announced by the Company on 23 July 2021. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares.

Notifications have been made in accordance with the requirements of the UK Market Abuse Regulation in respect of the PDMR and further details can be found by following this link: https://www.polarean-ir.com/content/investors/shareholder-information

Total voting rights

Following the issue and allotment of the Ordinary Shares, the Company's issued share capital comprises 216,264,249 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 216,264,249.

The figure of 216,264,249 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change of 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: 

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. The Company also commercialises systems (such as the HPX hyperpolarisation system), accessories (such as Xe-specific chest coils and phantoms) and FDA-cleared post-processing software (to support ventilation defect analysis), to support fully integrated modern respiratory imaging operations.

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