Exercise of Warrants, Issue of Equity & TVR

RNS Number : 3842U

Futura Medical PLC

01 April 2021

 

1 April 2021

Futura Medical plc  

Exercise of Warrants, Issue of Equity
& Total Voting Rights

Futura Medical plc (AIM: FUM) ("Futura" or the "Company"), a pharmaceutical company developing a portfolio of innovative products based on its proprietary, transdermal DermaSys® drug delivery technology and currently focused on sexual health and pain, today announces that it has received a warrant exercise notice from HT Riverwood Multi-Growth Fund ("Riverwood"), a fund managed by Atlantis Investment Management Limited ("Atlantis") in respect of 2,272,727 new ordinary shares of 0.2 pence in the Company ("New Ordinary Shares"), with an exercise price of 22 pence per share. Proceeds of £500,000 have been received by the Company in respect of the warrant exercise.

Once issued, the New Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares of the Company.

Application has been made for the 2,272,727 New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or about 7 April 2021.

Total voting rights

Following Admission, the Company's enlarged issued share capital will comprise 248,324,653 Ordinary Shares of 0.2 pence each, with one voting right per share ("Ordinary Shares"). The Company does not hold any ordinary shares in treasury and therefore the total number of Ordinary Shares with voting rights in the Company is 248,324,653.

The above figure of 248,324,653 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

James Barder, Futura's Chief Executive, commented: "I am appreciative of the continued support from Atlantis Investment Management Limited, which further strengthens the Company's cash position in preparation of future opportunities."

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

-ENDS-

For further information please contact:

Futura Medical plc

James Barder, Chief Executive

Angela Hildreth, Finance Director and COO

Email:  [e-mail]

Tel: [phone]

www.futuramedical.com

Nominated Adviser and Sole Broker:

Liberum

Richard Lindley/ Euan Brown/ Kane Collings

Tel: [phone]

For media enquiries please contact:

Optimum Strategic Communications

Mary Clark/ Eva Haas/ Hollie Vile

Email:  [e-mail]

Tel: [phone]

About Futura Medical plc

Futura Medical plc (AIM: FUM), is a pharmaceutical company developing a portfolio of innovative products based on its proprietary, transdermal DermaSys^® technology. Each DermaSys® formulation is separately patented and specifically tailored for the selected indication and application, as well as being optimised for clinical efficacy, safety, administration and patient convenience. The products are developed for the prescription and consumer healthcare markets as appropriate. Current therapeutic areas are sexual health, including erectile dysfunction, and pain relief. Development and commercialisation strategies are designed to maximise product differentiation and value creation whilst minimising risk.   

MED3000 is Futura's topical gel formulation that is a breakthrough treatment for erectile dysfunction (ED) through a unique evaporative mode of action. Futura has conducted a Phase 3 study using MED3000 in ED, referred to as "FM57". This was a 1,000 patient, dose-ranging, multi-centre, randomised, double blind, placebo-controlled, home use, parallel group study delivering highly statistically significant results compared to pre-treatment baseline, consistently meeting all co-primary endpoints of IIEF, SEP2 and SEP3 (internationally accepted clinical trial endpoints in ED) with over 60% of patients experiencing a clinically meaningful improvement in their ED.  MED3000 also begins to work immediately in some patients, with 60% of patients seeing onset of their erection within 10 minutes of application.

Futura is based in Guildford, Surrey, and its shares trade on the AIM market of the London Stock Exchange.    www.futuramedical.com

 

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ALSUAAVRAWUSRAR