Last checked at 21 Sep 2020 15:12
Directors' / PDMR Dealing and Grant of Options
21 September 2020
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 currently focused on sexual health and pain, today announces that on 21 September 2020 it made its annual grant of options over a total of 1,500,000 ordinary shares of 0.2p each in the Company ("Ordinary Shares") to employees and Directors, of which 780,000 options were granted to Directors and PDMRs as detailed below.
Director | Numberof optionsgranted | Exerciseprice | Exercise period | Total numberof optionsheld followingnotification | Total numberof OrdinaryShares held |
J H Barder | 300,000 | 15.5p | 1 Oct 2022 - 30 Sep 2027 | 2,050,000 | 1,210,972 |
A Hildreth | 240,000 | 15.5p | 1 Oct 2022 - 30 Sept 2027 | 640,000 | 142,857 |
K W James | 240,000 | 15.5p | 1 Oct 2022 - 30 Sept 2027 | 1,040,000 | 299,581 |
Of the total 1,500,000 options, 1,260,000 were granted under the Futura Medical plc Enterprise Management Incentive Scheme, and 240,000 were granted under the unapproved scheme.
The main vesting condition of the options is that the Director/PDMR/employee remains employed with the Company as at the date of exercise. Further disclosures are contained in the tables below.
ENDS
For further information please contact:
Futura Medical plc James Barder, Chief ExecutiveAngela Hildreth, Finance Director and COO
Email: Investor.relations@futuramedical.comTel: +44 (0) 1483 685 670
Nominated Adviser and Broker:LiberumBidhi Bhoma/ Euan Brown/ Kane CollingsTel: +44 (0) 203 100 2000
For media enquiries please contact:
Optimum Strategic Communications
Mary Clark/ Eva Haas/ Supriya Mathur
Email: futuramedical@optimumcomms.com
Tel: +44 (0) 203 950 9144
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® platform 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 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.
In Europe as of mid-2020 a MED3000 technical dossier for approval as a medical device to treat erectile dysfunction has been submitted alongside a positive audit opinion of Futura's Quality Management Systems ("QMS") enabling the relevant EU Notified body to move towards completion of its review of the product. In the US Futura is positively engaging with the US Food and Drug Administration ("FDA") and regulatory procedures are ongoing. The strategy is to pursue "Direct to OTC" status in both EU and US and become the first globally available, clinically proven, OTC product for the treatment of erectile dysfunction.
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 | James Barder | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Executive Officer | ||||
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 0.2 pence each
GB0033278473 | ||||
b) | Nature of the transaction | Grant of options over Ordinary Shares
| ||||
c) | Price(s) and volume(s)
|
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d) | Aggregated information - Aggregated volume - Price | N/A single transaction | ||||
e) | Date of the transaction | 21 September 2020 | ||||
f) | Place of the transaction | Outside a 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 | Finance Director andChief Operating Officer | ||||
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 0.2 pence each
GB0033278473 | ||||
b) | Nature of the transaction | Grant of options over Ordinary Shares | ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A single transaction | ||||
e) | Date of the transaction | 21 September 2020 | ||||
f) | Place of the transaction | Outside a 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 | Executive Directorand Head of R&D | ||||
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 0.2 pence each
GB0033278473 | ||||
b) | Nature of the transaction | Grant of options over Ordinary Shares | ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A single transaction | ||||
e) | Date of the transaction | 21 September 2020 | ||||
f) | Place of the transaction | Outside a trading venue | ||||