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Pin to quick picksFutura Medical Regulatory News (FUM)

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Long Term Incentive Scheme

27 Sep 2011 15:45

RNS Number : 0354P
Futura Medical PLC
27 September 2011
 



For immediate release

27 September 2011

 

 

Futura Medical plc

("Futura" or "the Company")

 

Directors' Long Term Incentive Scheme Share Award

Futura Medical plc (AIM: FUM), the pharmaceutical group that develops innovative products for consumer healthcare, announces that pursuant to the achievement of the milestone award of the CE mark on 8 August 2011 and the announcement made on 18 August 2011 the following option unit awards have today been issued and realised according to the terms of the Futura Medical plc Long Term Incentive Scheme.

The gross awards in terms of option units are: William Potter 150,000; James Barder 150,000; David Davies 150,000; and Derek Martin 100,000.

The Remuneration Committee exercised its right to satisfy the realisation of the option units in the form of new ordinary shares to be fully subscribed for and this has been based on the Company's closing share price of 73.50p on 8 August 2011, being the date of the announcement of the grant of the CE mark. The value of each unit will be the difference between the closing share price at the date of the announcement of the grant of the CE mark and the base price which has been set at nil.

The individual numbers of new ordinary shares issued reflect the recipient's pension contribution and tax status, and are as follows: William Potter 76,326; James Barder 142,618; David Davies 98,734; and Derek Martin 100,000.

The total number of 417,678 new ordinary shares issued will rank pari passu with existing ordinary shares and are expected to be admitted to trading on AIM on 3 October 2011.

Following the transactions the beneficial and non-beneficial holdings in ordinary shares in the Company for the purposes of the AIM Rules for Companies will be:

Director

Ordinary shares

Percentage of the Company's issued share capital

William Potter

207,424

0.28%

James Barder

870,330

1.19%

David Davies

631,306

0.86%

Derek Martin

225,000

0.31%

 

For the purposes of the Disclosure and Transparency Rules, the Company's total issued share capital at the date of this announcement is 73,078,391 ordinary shares of 0.2p each, with one voting right per share. There are no shares held in treasury. The total number of voting rights in the Company is therefore 73,078,391.

The above figure of 73,078,391 shares may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company, under the Disclosure and Transparency Rules.

 

Further details of the Long Term Incentive Scheme are set out on the Company's website.

 

For any further information please contact:

 

Futura Medical plc

 

James Barder, Chief Executive

 

Tel: +44 (0)1483 685 670

mail to: james.barder@futuramedical.com

www.futuramedical.com

 

 

 

Nomura Code Securities Limited

 

Phil Walker / Giles Balleny

Tel:+44 (0)20 7776 1200

 

 

 

For media enquiries please contact:

 

 

 

Buchanan Communications

 

Mark Court / Jessica Fontaine

Tel: +44 (0)20 7466 5000

 

 

Notes to Editors

 

Futura Medical plc

 

Futura Medical is a pharmaceutical group that develops innovative products for consumer healthcare. The Company is developing a portfolio of products and its strategy is to license their manufacture and distribution to major pharmaceutical and healthcare groups.

 

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

www.futuramedical.com

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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