Polarean Imaging (POLX ) has launched a strategic review of its future direction and organisational structure, with options including a potential cancellation of its admission to trading on AIM. No decision has been made.
The Board cites a challenging UK market backdrop for small-cap MedTech - persistent undervaluation, limited liquidity, and the ongoing costs of a public listing - alongside the company’s need for additional capital to advance commercialisation of its Xenon MRI technology.
As part of the review, the Board is evaluating measures to reduce operating costs while maintaining financial discipline. Under certain circumstances, a move to a private company structure could lower expenses, provide greater strategic flexibility, and broaden access to capital on more favourable terms.
If the Board decides to pursue a cancellation and re-registration as a private company, a detailed circular outlining the background, rationale, and implications would be sent to shareholders. Any cancellation would require approval of not less than 75% of votes cast at a general meeting, in line with Rule 41 of the AIM Rules for Companies.
Polarean says it remains focused on progressing its mission to transform pulmonary medicine through Xenon MRI and on continuing commercial growth during the review. Further updates will be issued if and when the Board elects a specific course of action.
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Taking the company private is one option within a broader review. It could reduce costs and simplify funding discussions.