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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Polarean Imaging Plc | LSE:POLX | London | Ordinary Share | GB00BF3DT583 | ORD GBP0.00037 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.05 | -1.33% | 3.70 | 3.60 | 3.80 | 3.75 | 3.70 | 3.75 | 52,736 | 08:40:46 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Surgical,med Instr,apparatus | 1.03M | -13.91M | -0.0644 | -0.58 | 8.09M |
TIDMPOLX
RNS Number : 6861E
Polarean Imaging PLC
09 July 2021
Polarean Imaging Plc
("Polarean" or the "Company")
Grant of Options and Director Compensation Reduction
Polarean Imaging plc (AIM: POLX), the medical-imaging technology company, with an investigational 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 an aggregate 5,250,000 shares of GBP 0.00037 each in the capital of the Company to certain Directors and employees of the Company pursuant to the terms of the Company's Stock Option Plan (the "Share Options"). In addition, the Company announces that the Chairman and Non-Executive Directors have agreed to reduce their annual cash compensation.
4,450,000 Share Options have been granted to the ten PDMR's listed in the table below and 800,000 Share Options have been granted to eight non-PDMR employees. The Share Options will be exercisable at a price of 93p and will vest 25% on 7 July 2022 with the remaining Share Options vesting in equal portions on the last day of each calendar month over the period of 36 months starting on 31 August 2022.
Name Share Options Granted Total no. of options over ordinary shares now held Richard Hullihen 1,000,000 3,135,440 ---------------------- ---------------------- Jonathan Allis 500,000 1,034,400 ---------------------- ---------------------- Cyrille Petit 500,000 500,000 ---------------------- ---------------------- Charles Osborne 500,000 1,700,000 ---------------------- ---------------------- Kenneth West 350,000 2,263,218 ---------------------- ---------------------- Bastiaan Driehuys 350,000 1,686,000 ---------------------- ---------------------- Juergen Laucht 350,000 884,400 ---------------------- ---------------------- Kiarash Emami 300,000 3,185,548 ---------------------- ---------------------- Neil Wadehra 300,000 1,568,988 ---------------------- ---------------------- Alexander Dusek 300,000 1,500,000 ---------------------- ----------------------
Notifications have been made in accordance with the requirements of the EU Market Abuse Regulation in respect of the PDMRs and further details can be found by following this link: https://www.polarean-ir.com/content/investors/shareholder-information
Dr. Jonthan Allis has agreed to reduce his annual cash compensation f rom $100,000 to $70,000. Dr. Bastiaan Driehuys, Mr. Kenneth West, Mr. Cyrille Petit and Mr. Juergen Laucht have agreed reduce their base annual cash compensation from $45,000 to $31,500. Dr. Bastiaan Driehuys, Mr. Kenneth West, Mr. Cyrille Petit and Mr. Juergen Laucht will continue to receive an additional $5,000 per year for each Board Committee on which they serve.
Following the grant of Share Options referred above, there are 26,438,451 outstanding options and warrants over Polarean's Ordinary Shares, representing 12.6% of the Company's total voting rights.
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 Via Walbrook PR Officer Jonathan Allis, Chairman Stifel Nicolaus Europe Limited (NOMAD and Sole Corporate Broker) +44 (0)20 7710 7600 Nicholas Moore / Ben Maddison / Samira Essebiyea (Healthcare Investment Banking) Nick Adams / Fred Walsh (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, investigational drug-device combination companies operating in the high-resolution medical imaging research space.
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. (129) Xe gas is currently being studied for visualisation of gas exchange regionally in the smallest airways of the lungs, across the alveolar tissue barrier, and into the pulmonary bloodstream.
In October 2020, the Group submitted a New Drug Application ("NDA") to the FDA for hyperpolarised (129) Xe used to evaluate pulmonary function and to visualise the lung using MRI. In December 2020, the Group received confirmation of acceptance of its NDA by the FDA, with a target PDUFA action date of 5 October 2021.
The Group operates in an area of significant unmet medical need and the Group's technology provides a novel investigational diagnostic approach, offering a non-invasive and radiation-free functional imaging platform. The annual burden of pulmonary disease in the US is estimated to be over US$150 billion.
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(END) Dow Jones Newswires
July 09, 2021 02:00 ET (06:00 GMT)
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