Share Dealing
Futura Medical PLC
07 July 2006
For Immediate Release 7 July 2006
Futura Medical Plc
Placing and Directors' Share Dealing
Futura Medical plc (AIM: FUM), the AIM-quoted pharmaceutical and medical device
group that develops innovative products for sexual health, is pleased to
announce that all resolutions at its annual general meeting held at 4pm on 6
July 2006 were passed unanimously.
In addition, the Company has entered into a placing agreement pursuant to which
Canaccord Adams Limited and Collins Stewart Limited have agreed to jointly place
up to 3,400,000 new ordinary shares at 78 pence per share ('the Placing Shares')
to raise £2.5 million after costs ('the Placing').
The Placing remains conditional, inter alia, on admission of the Placing Shares
to AIM, which the Company expects will occur on 10 July 2006.
In addition, Futura announces that the Directors set out in the table below have
now exercised options over 2,125,000 ordinary shares of 0.2 pence each in the
capital of Futura ('Ordinary Shares') in aggregate, and have agreed subsequently
to sell, conditional on Admission, at a price of 78 pence per share, 1,313,759
of the Ordinary Shares allotted in aggregate. In addition, certain staff have
exercised and agreed to sell, conditional upon Admission, options over 110,000
Ordinary Shares in aggregate, also at 78 pence per share. Therefore, the total
number of shares being sold on behalf of option holders will amount to 1,423,759
Ordinary Shares ('Sale Shares'). Full details of the arrangements are set out in
the table below.
Name Position Number of Number Sale Directors' Directors'
options of price per holding holding
exercised shares share (in pre post
sold pence) exercise exercise
WD Potter Chairman 375,000 293,902 78 p Nil 81,098
JH Barder CEO 250,000 183,285 78 p 551,497 618,212
DB Davies Director 1,000,000 606,877 78 p 15,152 408,275
AL Clayden Director 500,000 229,695 78 p Nil 270,305
(i) JH Barder's holding includes shares beneficially owned and held by
connected parties.
(ii) The total proceeds to Futura from the intended exercise of the Directors
and staff options will amount to £ 831,250. Together with the net proceeds
of the Placing, Futura will receive £3.35 million.
James Barder, Futura's Chief Executive, said:
'I am delighted that the directors' holding in Futura has more than doubled.
This underlines the commitment we all have to the company and the prospects for
future growth.'
For further information:
Futura Medical plc
James Barder, Chief Executive Tel: +44 (0) 1483 685 670
mailto: www.futuramedical.co.uk
james.barder@futuramedical.co.uk
Canaccord Adams Limited
Mark Ashurst Tel: +44 (0) 207 518 2776
Collins Stewart Limited
Philip Roe Tel:+ 44 (0) 207 523 8323
Media enquiries:
Buchanan Communications
Mark Court / Rebecca Skye Dietrich Tel: +44 (0) 20 7466 5000
www.futuramedical.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange