Futura Medical Regulatory News (FUM)

15 April 2021

Futura Medical plc 

Conversion of Convertible Loan Notes, 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, announces that it has received a conversion notice from HT Riverwood Multi-Growth Fund ("Riverwood"), a fund managed by Atlantis Investment Management Limited ("Atlantis"), in respect of £1.5 million in principal amount of the convertible loan notes issued by the Company on 4 March 2021. This notice represents the final conversion and following this there will be no further amounts outstanding to Riverwood.

Pursuant to the conversion, the Company will issue, in aggregate, 7,500,000 new ordinary shares of 0.2 pence each in the capital of the Company (the "Conversion Shares") at a conversion price of 20 pence per Ordinary Share.

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

Application has been made for the 7,500,000 Conversion Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or about 21 April 2021.

Total voting rights

Following Admission, the Company's enlarged issued share capital will comprise 255,824,653 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 255,824,653.

The above figure of 255,824,653 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: "We note and appreciate Atlantis Investment Management's continued support and confidence in the Company with their early conversion to ordinary shares of the Convertible Loan Notes."

Ms Yang Liu, Atlantis' Chairperson and Chief Investment Officer, commented: "Futura has had a transformational few months, delivering on a number of important milestones. We are confident there are further opportunities to realise the significant value creation at the Company, notably with MED3000 as a breakthrough new product for patients with ED, and we are happy to increase our participation in this in the form of an increased shareholding."

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: investor.relations@futuramedical.com

Tel: +44 (0) 1483 685 670

www.futuramedical.com

Nominated Adviser and Sole Broker:

Liberum

Richard Lindley/ Euan Brown/ Kane Collings

Tel: +44 (0) 20 3100 2000

For media enquiries please contact:

Optimum Strategic Communications

Mary Clark/ Eva Haas/ Hollie Vile

Email: futuramedical@optimumcomms.com

Tel: +44 (0) 203 922 0900

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