Futura Remuneration, Options & Total Voting Rights

RNS Number : 5589M

Futura Medical PLC

12 January 2023

 

 12 January 2023

Futura Medical plc

("Futura" or the "Company")

Remuneration of Non-Executive Directors, Grant of Options and Total Voting Rights

Futura Medical plc (AIM: FUM), 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, announces the issue of 87,430 new ordinary shares of 0.2 pence each ("Ordinary Shares") in respect of the 2022 remuneration of its Non-Executive Directors and a grant of 4,444,942 options over Ordinary Shares ("Options") to employees and Directors.

Remuneration of Non-Executive Directors

In accordance with the terms of their service agreements, the Non-Executive Directors receive 25-30 per cent of their remuneration in the form of Ordinary Shares. For 2022, these were issued at 36.36 pence per share, being the average closing mid-market price of the last 10 trading days of 2021 (as announced via RNS on 13 January 2022).

The 87,430 new Ordinary Shares shall rank pari passu with the existing issued Ordinary Shares of the Company and have been issued as follows:

Director	Number of Ordinary Shares issued for 2022 remuneration	Total number of ordinary shares held	Percentage of the Company's resulting issued share capital
John Clarke	44,560	795,100	0.28%
Jeff Needham	16,344	16,344	0.01%
Andrew Unitt	26,526	26,526	0.01%

The shares element of the Non-Executive Directors' remuneration for 2023 will be awarded at 51.50 pence per Ordinary Share, being the average closing mid-market price of the last 10 trading days of 2022. The Non-Executive Directors will receive these shares in January 2024.

Grant of Options

The Company has granted a total of 4,444,942 Options of which 1,985,626 have been awarded to Directors as detailed below.

All Options have been granted under existing schemes and vest equally over 3 years to January 2025 with 25% of the Options granted with immediate vesting. The main condition is that the individual remains an employee or Director at the time of vesting.

Director	Number of Options granted	Exercise price	Total number of Options held following grant
James Barder	540,716	0.2p	2,085,716
Angela Hildreth	472,340	0.2p	1,508,340
John Clarke	463,343	0.2p	463,343
Ken James	509,227	0.2p	1,945,227

Total Voting Rights

Application has been made to the London Stock Exchange and it is anticipated that trading of the new Ordinary Shares will commence on AIM at 8:00am on 17 January 2023.

Immediately following the above issue, the Company will have 288,133,957 ordinary shares in issue, each carrying one voting right. Since the Company currently holds no shares in treasury, the total number of voting rights in the Company is therefore 288,133,957 and this figure 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 in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Further details are contained within the notifications below, made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014. Full details of the Non-Executive Directors' remuneration will be included in the Company's Annual Report & Accounts.

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

Phil Walker/ Richard Lindley/ Ben Cryer/ Kane Collings

Tel: [phone]

For media enquiries please contact:

Optimum Strategic Communications

Mary Clark/ Eva Haas/ Hollie Vile/ Zoe Bolt

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 previously 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, using measures IIEF-EF, SEP2 and SEP3 (internationally accepted clinical trial endpoints in ED) with over 60% of patients experiencing a clinically meaningful improvement in their ED.

MED3000 is CE marked in Europe and CA marked in the UK as a clinically proven topical treatment for adult men with erectile dysfunction under the brand Eroxon™ with a key claim of "Helps you get an erection within 10 minutes".

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

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John Clarke
2	Reason for the notification
a)	Position/status	Director/ PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Futura Medical plc
b)	LEI	21380053QLT46UNV2303
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 0.2p each GB0033278473
b)	Nature of the transaction	Issue of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 36.36 pence 44,560
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	11 January 2023
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jeff Needham
2	Reason for the notification
a)	Position/status	Director/ PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Futura Medical plc
b)	LEI	21380053QLT46UNV2303
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 0.2p each GB0033278473
b)	Nature of the transaction	Issue of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 36.36 pence 16,344
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	11 January 2023
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Andrew Unitt
2	Reason for the notification
a)	Position/status	Director/ PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Futura Medical plc
b)	LEI	21380053QLT46UNV2303
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 0.2p each GB0033278473
b)	Nature of the transaction	Issue of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 36.36 pence 26,526
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	11 January 2023
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	James Barder
2	Reason for the notification
a)	Position/status	Director/ PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Futura Medical plc
b)	LEI	21380053QLT46UNV2303
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Options over Ordinary shares of 0.2p each GB0033278473
b)	Nature of the transaction	Grant of Options over Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) nil 540,716
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	10 January 2023
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Angela Hildreth
2	Reason for the notification
a)	Position/status	Director/ PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Futura Medical plc
b)	LEI	21380053QLT46UNV2303
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Options over Ordinary shares of 0.2p each GB0033278473
b)	Nature of the transaction	Grant of Options over Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) nil 472,340
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	10 January 2023
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John Clarke
2	Reason for the notification
a)	Position/status	Director/ PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Futura Medical plc
b)	LEI	21380053QLT46UNV2303
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Options over Ordinary shares of 0.2p each GB0033278473
b)	Nature of the transaction	Grant of Options over Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) nil 463,343
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	10 January 2023
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ken James
2	Reason for the notification
a)	Position/status	Director/ PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Futura Medical plc
b)	LEI	21380053QLT46UNV2303
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Options over Ordinary shares of 0.2p each GB0033278473
b)	Nature of the transaction	Grant of Options over Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) nil 509,227
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	10 January 2023
f)	Place of the transaction	Outside of trading venue

 

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