TIDMFUM

RNS Number : 5589M

Futura Medical PLC

12 January 2023

12 January 2023

Futura Medical plc

("Futura" or the "Company")

Remuneration of Non-Executive Directors, Grant of Options and Total Voting Rights

Futura Medical plc (AIM: FUM), a pharmaceutical company developing a portfolio of innovative products based on its proprietary, transdermal DermaSys(R) drug delivery technology and currently focused on sexual health and pain, announces the issue of 87,430 new ordinary shares of 0.2 pence each ("Ordinary Shares") in respect of the 2022 remuneration of its Non-Executive Directors and a grant of 4,444,942 options over Ordinary Shares ("Options") to employees and Directors.

Remuneration of Non-Executive Directors

In accordance with the terms of their service agreements, the Non-Executive Directors receive 25-30 per cent of their remuneration in the form of Ordinary Shares. For 2022, these were issued at 36.36 pence per share, being the average closing mid-market price of the last 10 trading days of 2021 (as announced via RNS on 13 January 2022).

The 87,430 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   Total number of ordinary shares    Percentage of the Company's 
                 for 2022 remuneration              held                               resulting issued share capital 
 John Clarke     44,560                             795,100                            0.28% 
 Jeff Needham    16,344                             16,344                             0.01% 
 Andrew Unitt    26,526                             26,526                             0.01% 
 

The shares element of the Non-Executive Directors' remuneration for 2023 will be awarded at 51.50 pence per Ordinary Share, being the average closing mid-market price of the last 10 trading days of 2022. The Non-Executive Directors will receive these shares in January 2024.

Grant of Options

The Company has granted a total of 4,444,942 Options of which 1,985,626 have been awarded to Directors as detailed below.

All Options have been granted under existing schemes and vest equally over 3 years to January 2025 with 25% of the Options granted with immediate vesting. The main condition is that the individual remains an employee or Director at the time of vesting.

 
 Director           Number of Options granted   Exercise price   Total number of Options held following grant 
 James Barder       540,716                     0.2p             2,085,716 
 Angela Hildreth    472,340                     0.2p             1,508,340 
 John Clarke        463,343                     0.2p             463,343 
 Ken James          509,227                     0.2p             1,945,227 
 

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 8:00am on 17 January 2023.

Immediately following the above issue, the Company will have 288,133,957 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 288,133,957 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.

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.

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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

Phil Walker/ Richard Lindley/ Ben Cryer/ Kane Collings

Tel: +44 (0) 20 3100 2000

For media enquiries please contact:

Optimum Strategic Communications

Mary Clark/ Eva Haas/ Hollie Vile/ Zoe Bolt

Email: futuramedical@optimumcomms.com

Tel: +44 (0) 203 882 9621

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(R) technology. Each DermaSys(R) 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 previously 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, using measures IIEF-EF, SEP2 and SEP3 (internationally accepted clinical trial endpoints in ED) with over 60% of patients experiencing a clinically meaningful improvement in their ED.

MED3000 is CE marked in Europe and CA marked in the UK as a clinically proven topical treatment for adult men with erectile dysfunction under the brand Eroxon(TM) with a key claim of "Helps you get an erection within 10 minutes".

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

 
      Details of the person discharging managerial responsibilities 
  1    / person closely associated 
 a)   Name                            John Clarke 
     ------------------------------  ----------------------------------- 
      Reason for the notification 
  2 
     ------------------------------------------------------------------- 
 a)   Position/status                 Director/ PDMR 
     ------------------------------  ----------------------------------- 
 b)   Initial notification            Initial notification 
       /Amendment 
     ------------------------------  ----------------------------------- 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------- 
 a)   Name                            Futura Medical plc 
     ------------------------------  ----------------------------------- 
 b)   LEI                             21380053QLT46UNV2303 
     ------------------------------  ----------------------------------- 
      Details of the transaction(s): section to be repeated 
  4    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,            Ordinary shares of 0.2p each 
       type of instrument 
                                        GB0033278473 
       Identification code 
     ------------------------------  ----------------------------------- 
 b)   Nature of the transaction       Issue of shares 
     ------------------------------  ----------------------------------- 
 c)   Price(s) and volume(s)            Price(s)       Volume(s) 
                                         36.36 pence    44,560 
                                                       ---------- 
     ------------------------------  ----------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume 
                                        Not applicable 
       - Price 
     ------------------------------  ----------------------------------- 
 e)   Date of the transaction         11 January 2023 
     ------------------------------  ----------------------------------- 
 f)   Place of the transaction        Outside of trading venue 
     ------------------------------  ----------------------------------- 
 
 
      Details of the person discharging managerial responsibilities 
  1    / person closely associated 
 a)   Name                            Jeff Needham 
     ------------------------------  ----------------------------------- 
      Reason for the notification 
  2 
     ------------------------------------------------------------------- 
 a)   Position/status                 Director/ PDMR 
     ------------------------------  ----------------------------------- 
 b)   Initial notification            Initial notification 
       /Amendment 
     ------------------------------  ----------------------------------- 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------- 
 a)   Name                            Futura Medical plc 
     ------------------------------  ----------------------------------- 
 b)   LEI                             21380053QLT46UNV2303 
     ------------------------------  ----------------------------------- 
      Details of the transaction(s): section to be repeated 
  4    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,            Ordinary shares of 0.2p each 
       type of instrument 
                                        GB0033278473 
       Identification code 
     ------------------------------  ----------------------------------- 
 b)   Nature of the transaction       Issue of shares 
     ------------------------------  ----------------------------------- 
 c)   Price(s) and volume(s)            Price(s)       Volume(s) 
                                         36.36 pence    16,344 
                                                       ---------- 
     ------------------------------  ----------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume 
                                        Not applicable 
       - Price 
     ------------------------------  ----------------------------------- 
 e)   Date of the transaction         11 January 2023 
     ------------------------------  ----------------------------------- 
 f)   Place of the transaction        Outside of trading venue 
     ------------------------------  ----------------------------------- 
 
 
      Details of the person discharging managerial responsibilities 
  1    / person closely associated 
 a)   Name                            Andrew Unitt 
     ------------------------------  ----------------------------------- 
      Reason for the notification 
  2 
     ------------------------------------------------------------------- 
 a)   Position/status                 Director/ PDMR 
     ------------------------------  ----------------------------------- 
 b)   Initial notification            Initial notification 
       /Amendment 
     ------------------------------  ----------------------------------- 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------- 
 a)   Name                            Futura Medical plc 
     ------------------------------  ----------------------------------- 
 b)   LEI                             21380053QLT46UNV2303 
     ------------------------------  ----------------------------------- 
      Details of the transaction(s): section to be repeated 
  4    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,            Ordinary shares of 0.2p each 
       type of instrument 
                                        GB0033278473 
       Identification code 
     ------------------------------  ----------------------------------- 
 b)   Nature of the transaction       Issue of shares 
     ------------------------------  ----------------------------------- 
 c)   Price(s) and volume(s)            Price(s)       Volume(s) 
                                         36.36 pence    26,526 
                                                       ---------- 
     ------------------------------  ----------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume 
                                        Not applicable 
       - Price 
     ------------------------------  ----------------------------------- 
 e)   Date of the transaction         11 January 2023 
     ------------------------------  ----------------------------------- 
 f)   Place of the transaction        Outside of trading venue 
     ------------------------------  ----------------------------------- 
 
 
      Details of the person discharging managerial responsibilities 
  1    / person closely associated 
 a)   Name                        James Barder 
     --------------------------  --------------------------------------- 
      Reason for the notification 
  2 
     ------------------------------------------------------------------- 
 a)   Position/status             Director/ PDMR 
     --------------------------  --------------------------------------- 
 b)   Initial notification        Initial notification 
       /Amendment 
     --------------------------  --------------------------------------- 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------- 
 a)   Name                        Futura Medical plc 
     --------------------------  --------------------------------------- 
 b)   LEI                         21380053QLT46UNV2303 
     --------------------------  --------------------------------------- 
      Details of the transaction(s): section to be repeated 
  4    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,        Options over Ordinary shares of 0.2p 
       type of instrument           each 
 
       Identification code          GB0033278473 
     --------------------------  --------------------------------------- 
 b)   Nature of the transaction   Grant of Options over Ordinary Shares 
     --------------------------  --------------------------------------- 
 c)   Price(s) and volume(s)        Price(s)    Volume(s) 
                                     nil         540,716 
                                                ---------- 
     --------------------------  --------------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume 
                                    Not applicable 
       - Price 
     --------------------------  --------------------------------------- 
 e)   Date of the transaction     10 January 2023 
     --------------------------  --------------------------------------- 
 f)   Place of the transaction    Outside of trading venue 
     --------------------------  --------------------------------------- 
 
 
      Details of the person discharging managerial responsibilities 
  1    / person closely associated 
 a)   Name                        Angela Hildreth 
     --------------------------  --------------------------------------- 
      Reason for the notification 
  2 
     ------------------------------------------------------------------- 
 a)   Position/status             Director/ PDMR 
     --------------------------  --------------------------------------- 
 b)   Initial notification        Initial notification 
       /Amendment 
     --------------------------  --------------------------------------- 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------- 
 a)   Name                        Futura Medical plc 
     --------------------------  --------------------------------------- 
 b)   LEI                         21380053QLT46UNV2303 
     --------------------------  --------------------------------------- 
      Details of the transaction(s): section to be repeated 
  4    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,        Options over Ordinary shares of 0.2p 
       type of instrument           each 
 
       Identification code          GB0033278473 
     --------------------------  --------------------------------------- 
 b)   Nature of the transaction   Grant of Options over Ordinary Shares 
     --------------------------  --------------------------------------- 
 c)   Price(s) and volume(s)        Price(s)    Volume(s) 
                                     nil         472,340 
                                                ---------- 
     --------------------------  --------------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume 
                                    Not applicable 
       - Price 
     --------------------------  --------------------------------------- 
 e)   Date of the transaction     10 January 2023 
     --------------------------  --------------------------------------- 
 f)   Place of the transaction    Outside of trading venue 
     --------------------------  --------------------------------------- 
 
 
      Details of the person discharging managerial responsibilities 
  1    / person closely associated 
 a)   Name                        John Clarke 
     --------------------------  --------------------------------------- 
      Reason for the notification 
  2 
     ------------------------------------------------------------------- 
 a)   Position/status             Director/ PDMR 
     --------------------------  --------------------------------------- 
 b)   Initial notification        Initial notification 
       /Amendment 
     --------------------------  --------------------------------------- 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------- 
 a)   Name                        Futura Medical plc 
     --------------------------  --------------------------------------- 
 b)   LEI                         21380053QLT46UNV2303 
     --------------------------  --------------------------------------- 
      Details of the transaction(s): section to be repeated 
  4    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,        Options over Ordinary shares of 0.2p 
       type of instrument           each 
 
       Identification code          GB0033278473 
     --------------------------  --------------------------------------- 
 b)   Nature of the transaction   Grant of Options over Ordinary Shares 
     --------------------------  --------------------------------------- 
 c)   Price(s) and volume(s)        Price(s)    Volume(s) 
                                     nil         463,343 
                                                ---------- 
     --------------------------  --------------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume 
                                    Not applicable 
       - Price 
     --------------------------  --------------------------------------- 
 e)   Date of the transaction     10 January 2023 
     --------------------------  --------------------------------------- 
 f)   Place of the transaction    Outside of trading venue 
     --------------------------  --------------------------------------- 
 
 
      Details of the person discharging managerial responsibilities 
  1    / person closely associated 
 a)   Name                        Ken James 
     --------------------------  --------------------------------------- 
      Reason for the notification 
  2 
     ------------------------------------------------------------------- 
 a)   Position/status             Director/ PDMR 
     --------------------------  --------------------------------------- 
 b)   Initial notification        Initial notification 
       /Amendment 
     --------------------------  --------------------------------------- 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------- 
 a)   Name                        Futura Medical plc 
     --------------------------  --------------------------------------- 
 b)   LEI                         21380053QLT46UNV2303 
     --------------------------  --------------------------------------- 
      Details of the transaction(s): section to be repeated 
  4    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,        Options over Ordinary shares of 0.2p 
       type of instrument           each 
 
       Identification code          GB0033278473 
     --------------------------  --------------------------------------- 
 b)   Nature of the transaction   Grant of Options over Ordinary Shares 
     --------------------------  --------------------------------------- 
 c)   Price(s) and volume(s)        Price(s)    Volume(s) 
                                     nil         509,227 
                                                ---------- 
     --------------------------  --------------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume 
                                    Not applicable 
       - Price 
     --------------------------  --------------------------------------- 
 e)   Date of the transaction     10 January 2023 
     --------------------------  --------------------------------------- 
 f)   Place of the transaction    Outside of trading venue 
     --------------------------  --------------------------------------- 
 

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END

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January 12, 2023 06:09 ET (11:09 GMT)

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