Remuneration of Non-Executive Directors and TVR

RNS Number : 4938V

Futura Medical PLC

14 April 2021

 

14 April 2021

Remuneration of Non-Executive Directors and Total Voting Rights

Futura Medical plc (AIM: FUM) (the "Company), a pharmaceutical company developing a portfolio of innovative products based on its proprietary, transdermal DermaSys® technology and currently focused on sexual health and pain, announces the issue of 176,318 new ordinary shares of 0.2 pence each ("Ordinary Shares") in respect of the 2020 remuneration of its Non-Executive Directors.

In accordance with the terms of their service agreements, the Non-Executive Directors annually receive approximately 30 per cent of their remuneration in the form of Ordinary Shares. For 2020, these were issued at 12.24 pence per share, being the average closing mid-market price of the last 10 trading days of 2019 (as announced via RNS on 22 January 2020).

The 176,318 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 2020 remuneration	Total number of ordinary shares held	Percentage of the Company's resulting issued share capital
John Clarke	129,754	642,542	0.26%
Jonathan Freeman	46,564	222,282	0.09%

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 20 April 2021.

Immediately following the above issue, the Company will have 248,500,971 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 248,500,971 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.

The shares element of the Non-Executive Directors' remuneration for 2021 will be awarded at 14.97 pence per Ordinary Share, being the average closing mid-market price of the last 10 trading days of 2020. The Non-Executive Directors will receive these shares in January 2022.

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
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]

Notes to editors

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

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) 12.24 pence 129,754
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	14 April 2021
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jonathan Freeman
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) 12.24 pence 46,564
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	14 April 2021
f)	Place of the transaction	Outside of trading venue

 

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