Amphion Innovations plc

Further Update on Polarean Imaging Limited

London and New York, 23 November 2017 - Amphion Innovations plc (AIM: AMP), the developer of medical, life science, and technology businesses, announces a further update regarding its partner company Polarean Imaging Limited (“Polarean”), in which Amphion currently has an interest of circa 26%.

Further to the Company’s announcement of 10 November 2017, Polarean’s proposed IPO and admission to AIM is now expected to complete in Q1 2018. Following publication of the Northland Research Report, the management of Polarean is now seeking interim funding to ensure there are adequate financial resources to complete the proposed IPO and gain the best result for Polarean’s shareholders. As a result of the proposed interim financing, the anticipated monies to be raised and implied valuation set out in the Northland Research Report, published 10 November 2017, may be revised to take account of any interim money raised.

The implied valuation in the Northland Research Report is based, amongst other things, on current market conditions and there can be no assurance that this valuation will be achieved at the conclusion of Polarean’s future IPO roadshow. Furthermore, there can be no assurance as to whether or when the IPO of Polarean may be completed, or as to the actual size or final terms of the IPO.

Further announcements will be made by both Amphion and Polarean in due course.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

Certain capitalised terms in this announcement are with reference to the announcement made by Amphion at 7.00 a.m. (GMT) on 10 November 2017.

 

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For further information please contact

Amphion Innovations
Charlie Morgan
+1 212 210 6224

Panmure Gordon Limited (Nominated Adviser and Corporate Broker)
Freddy Crossley / Duncan Monteith (Corporate Finance)
Charlie Leigh-Pemberton (Corporate Broking)
+44 (0)20 7886 2500

Northland Capital Partners Limited (Joint Corporate Broker)
Patrick Claridge / David Hignell (Corporate Finance)
John Howes / Mark Treharne (Corporate Broking)
+44 (0)20 3861 6600

Walbrook PR
Mike Wort / Paul McManus
+44 (0)20 7933 8780

About Amphion Innovations plc
Amphion Innovations is a developer of medical, life science and technology businesses.

We use our extensive experience in company building to invest and build shareholder value in high growth companies in the US and UK. Amphion has significant shareholding in a small number of Partner Companies developing proven technologies targeting substantial commercial marketplaces. The Amphion model has been refined to optimise the commercialisation of patents and other intellectual property within the Partner Companies.