Last checked at 22 Jan 2020 14:33
Remuneration of Non-Executive Directors and Total Voting Rights
22 January 2020
Futura Medical plc (AIM: FUM) (the "Company"), a pharmaceutical company developing a portfolio of innovative products for sexual health and pain relief, announces the issue of 341,659 new ordinary shares of 0.2 pence each ("Ordinary Shares") in respect of the 2019 remuneration of its Non-Executive Directors.
In accordance with the terms of their service agreements, the Non-Executive Directors receive approximately 30 per cent of their remuneration in the form of Ordinary Shares. For 2019, these were issued at 6.01 pence per share, being the average closing mid-market price of the last 10 trading days of 2018 (as announced via RNS on 11 January 2019).
The 341,659 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 2019 remuneration | Total number of ordinary shares held | Percentage of the Company's resulting issued share capital |
John Clarke | 256,562 | 512,788 | 0.21% |
Jonathan Freeman | 85,097 | 175,718 | 0.07% |
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 28 January 2020.
Immediately following the above issue, the Company will have 245,626,926 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 245,626,926 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 2020 will be awarded at 12.24 pence per Ordinary Share, being the average closing mid-market price of the last 10 trading days of 2019. The Non-Executive Directors will receive these shares in January 2021.
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 ExecutiveAngela Hildreth, Finance Director and COO
Email: Investor.relations@futuramedical.comTel: +44 (0) 1483 685 670www.Futuramedical.com
Nominated Adviser and Sole Broker:LiberumBidhi Bhoma/ Euan Brown/ Kane CollingsTel: +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) 203 950 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® drug delivery technology. These products are optimised for clinical efficacy, safety, administration and patient convenience and 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.
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)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
Not applicable
| ||||
e)
| Date of the transaction
| 22 January 2020 | ||||
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)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
Not applicable
| ||||
e)
| Date of the transaction
| 22 January 2020 | ||||
f)
| Place of the transaction
| Outside of trading venue | ||||