Polarean Imaging PLC Result of General Meeting and Total Voting Rights (7545L)
December 28 2018 - 8:52AM
UK Regulatory
TIDMPOLX
RNS Number : 7545L
Polarean Imaging PLC
28 December 2018
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 IRELAND, 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, RECOMMENDATION,
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.
Polarean Imaging Plc
("Polarean" or the "Company")
Result of General Meeting and Total Voting Rights
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 11 December
2018 (the "Circular"), including those necessary to implement the
Fundraise to raise a total of US$4 million (GBP3.125 million)
(before expenses), were duly passed at the General Meeting of the
Company held in London earlier today.
Following the passing of the Resolutions, the Company has
allotted (subject only to their admission to trading on AIM
("Admission")) 22,321,429 ordinary shares of GBP0.00037 in the
capital of the Company (the "Ordinary Shares") with new and
existing investors (the "Fundraise Shares"). The Fundraise Shares
will rank pari passu with the Company's Existing Ordinary
Shares.
Application has been made to the London Stock Exchange for
Admission of the Fundraise Shares and it is expected that Admission
will occur and that dealings in the Fundraise Shares will commence
at 8.00 a.m. on 31 December 2018.
Following Admission of the Fundraise Shares, there will be
100,730,893 Ordinary Shares in issue, each carrying one voting
right. No shares are held in treasury. The total number of voting
rights in the Company is therefore 100,730,893. This number 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.
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.
**ENDS**
Enquiries:
Polarean Imaging plc www.polarean.com / www.polarean-ir.com
Richard Hullihen, Chief Executive Officer Via Walbrook PR
Richard Morgan, Chairman
Northland Capital Partners Limited Tel: +44 (0)20 3861
6625
David Hignell / Gerry Beaney / Jamie Spotswood
(Corporate Finance)
Vadim Alexandre / Rob Rees (Corporate Broking)
The Life Sciences Division (Adviser)
Navid Malik, Director Mob: 07957 224 730
Alia Minhas, CEO Mob: 07590 696 057
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
Helen Cresswell 741 001
Mob: +44 (0)7841 917 679
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
United States of America 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.
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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