Remuneration of Non-Executive Directors and TVR

RNS Number : 3634Y

Futura Medical PLC

13 January 2022

 

13 January 2022

    Futura Medical plc

("Futura" or the "Company")

Remuneration of Non-Executive Directors and Total Voting Rights

Futura Medical plc (AIM: FUM), a pharmaceutical company developing a portfolio of innovative products for sexual health and pain relief, announces the issue of 145,556 new ordinary shares of 0.2 pence each ("Ordinary Shares") in respect of the 2021 remuneration of its Non-Executive Directors.

In accordance with the terms of their service agreements, John Clarke, Non-Executive Director, and Jonathan Freeman, former Non-Executive Director, receive 25-30 per cent of their remuneration in the form of Ordinary Shares. For 2021, these were issued at 14.97 pence per share, being the average closing mid-market price of the last 10 trading days of 2020 (as announced via RNS on 14 April 2021).

The 145,556 new Ordinary Shares shall rank pari passu with the existing issued Ordinary Shares and have been issued to the Non-Executive Directors as follows:

Director	Number of Ordinary Shares issued for 2021 remuneration	Total number of Ordinary Shares held	Percentage of the Company's resulting issued share capital
John Clarke	107,998	750,540	0.26%
Jonathan Freeman*	37,558	259,840	0.09%

* Stepped down from the Board on 31 December 2021

The shares element of the Non-Executive Directors' remuneration for 2022 will be awarded at 36.36 pence per Ordinary Share, being the average closing mid-market price for the last 10 trading days of 2021. In addition, Jeff Needham will be awarded shares at 37.31 pence per Ordinary Share, being the average closing mid-market price in the 10 trading days prior to his appointment on 8 October 2021, in respect of the shares element of his pro-rata remuneration since appointment. These Ordinary Shares are expected to be issued in January 2023.

Full details of the Non-Executive Directors' remuneration is included in the Company's Annual Report & Accounts.

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 8:00 am on 18 January 2022.

Immediately following the above issue, the Company will have 287,296,527 Ordinary Shares in issue, each carrying one voting right. Since the Company currently holds no Ordinary Shares in treasury, the total number of voting rights in the Company is therefore 287,296,527 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.

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/ Benjamin 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]

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. MED3000 is CE marked in Europe and the UK as a clinically proven topical treatment for adult men with erectile dysfunction.

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

The notification below is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

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) 14.97 pence 107,998
d)	Aggregated information - Aggregated volume - Price	Not applicable
e)	Date of the transaction	13 January 2022
f)	Place of the transaction	Outside of trading venue

 

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