Posting of Circular


Polarean Imaging plc (AIM: POLX), a commercial-stage medical device leader in advanced Magnetic Resonance Imaging ("MRI") of lung function, is pleased to confirm that, further to its announcement on 22 May 2024 of the successful Placing and Subscription to raise US$10 million (£8 million), the circular setting out, amongst other things, details of the Open Offer (the "Circular") has been posted today.


The Open Offer is for up to approximately 200 million New Ordinary Shares at 1 pence per New Ordinary Share to raise up to £2 million (US$2.5 million), which will provide Qualifying Shareholders with the opportunity to subscribe for New Ordinary Shares on the basis of:

9 Open Offer Shares for every 10 Existing Ordinary Shares held on the Record Date, at a price of 1 pence per Open Offer share

Further details of the Open Offer and the terms and conditions on which it is being made, including the procedure for application and payment, will be contained in the Circular, extracts of which were contained in the announcement on 21 May 2024 and which is expected to be posted to Shareholders later today. The Circular will also be available on the Company's website later today:

Capitalised terms used but not otherwise defined in the text of this announcement shall have the meaning given to them in the Company's announcement on 21 May 2024.

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