TIDMFUM
RNS Number : 7352Y
Futura Medical PLC
14 May 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION 596/2014 (AS IT FORMS
PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018, AS AMENDED).
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES OF FUTURA MEDICAL PLC.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO
ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS
UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE
PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT
2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS
AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN
779021)
14 May 2021
Futura Medical plc
(" Futura " or the " Company " ) ( LON : FUM )
Retail Offer by PrimaryBid
Futura ( LON : FUM ), the AIM listed pharmaceutical company
developing a portfolio of innovative products based on its
proprietary, transdermal Dermasys(R) drug delivery technology and
focused on sexual health and pain , is pleased to announce, a
conditional offer for subscription via PrimaryBid (the "Retail
Offer") of up to 5,000,000 new ordinary shares of 0.2 pence each in
the Company ("New Ordinary Shares") at an issue price of 40 pence
per New Ordinary Share (the "Issue Price"), being a discount of
20.63 per cent to the closing mid-price on 13 May 2021, to raise up
to GBP2 million before expenses. The Company is also conducting a
placing of new Ordinary Shares at the Issue Price to raise GBP10
million before expenses by way of an accelerated bookbuild process
(the "Placing" , together with the Retail Offer, the "Fundraising"
) as separately announced today.
The Retail Offer and the Placing are conditional on the new
Ordinary Shares to be issued pursuant to the Retail Offer and the
Placing being admitted to trading on AIM ("Admission"). Admission
is expected to take place at 8.00 a.m. on 3 June 2021 . The Retail
Offer will not be completed without the Placing also being
completed.
The Company will use the net proceeds of the Fundraising to
fund:
-- the small confirmatory clinical study (FM71) required for FDA
regulatory submission for MED3000 as a DeNovo Medical Device;
-- scale-up and manufacturing activities, enabling lower costs for EU and other market launches;
-- central activities relating to commercial out-licensing partner support; and
-- general working capital purposes to support Futura's planned operations beyond US approval.
Retail Offer
The Company values its retail investor base and is therefore
pleased to provide private and other investors the opportunity to
participate in the Retail Offer by applying exclusively through the
PrimaryBid mobile app available on the Apple App Store and Google
Play. PrimaryBid does not charge investors any commission for this
service. The Company is appreciative of the support from its retail
shareholders and to this end will give preferential allocation to
investors the Company is satisfied to be pure retail.
The Retail Offer, via the PrimaryBid mobile app, will be open to
individual and institutional investors following the release of
this announcement. The Retail Offer will close no later than 9 p.m.
on Friday 14 May 2021. The Retail Offer may close early if it is
oversubscribed.
The Company reserves the right to scale back any order at its
discretion. The Company and PrimaryBid reserve the right to reject
any application for subscription under the Offer without giving any
reason for such rejection.
No commission is charged to investors on applications to
participate in the Retail Offer made through PrimaryBid. It is
vital to note that once an application for New Ordinary Shares has
been made and accepted via PrimaryBid, an application cannot be
withdrawn.
For further information on PrimaryBid or the procedure for
applications under the Retail Offer, visit www.PrimaryBid.com or
email PrimaryBid at enquiries@primarybid.com.
The New Ordinary Shares will be issued free of all liens,
charges and encumbrances and will, when issued and fully paid, rank
pari passu in all respects with the Company's existing Ordinary
Shares.
Unless otherwise defined herein, capitalised terms used in this
announcement shall have the same meanings as defined in the
Company's placing announcement made earlier today.
F utura Medical plc
James Barder, Chief Executive +44 (0) 1483 685
Angela Hildreth, Finance Director and COO 670
PrimaryBid Limited e nquiries@primarybid.com
Charles Spencer / James Deal
Liberum , Nominated Advisor and Sole Broker +44 (0) 20 3100
Richard Lindley/ Euan Brown/ Kane Collings 2000
Details of the Offer
The Company highly values its retail investor base which has
supported the Company alongside institutional investors over
several years. Given the longstanding support of retail
shareholders, the Company believes that it is appropriate to
provide retail and other interested investors the opportunity to
participate in the Offer. The Company is therefore making the Offer
available exclusively through the PrimaryBid mobile app.
The Retail Offer is offered under the exemptions against the
need for a prospectus allowed under the Prospectus Rules. As such,
there is no need for publication of a prospectus pursuant to the
Prospectus Rules, or for approval of the same by the Financial
Conduct Authority in its capacity as the UK Listing Authority. The
Offer is not being made into any Restricted Jurisdiction or any
other jurisdiction where it would be unlawful to do so.
There is a minimum subscription of GBP100 per investor under the
terms of the Retail Offer which is open to existing shareholders
and other investors subscribing via the PrimaryBid Mobile app.
For further details please refer to the PrimaryBid website at
www.PrimaryBid.com . The terms and conditions on which the Retail
Offer is made, including the procedure for application and payment
for New Ordinary Shares, is available to all persons who register
with PrimaryBid.
Investors should make their own investigations into the merits
of an investment in the Company. Nothing in this announcement
amounts to a recommendation to invest in the Company or amounts to
investment, taxation or legal advice.
It should be noted that a subscription for New Ordinary Shares
and investment in the Company carries a number of risks. Investors
should consider the risk factors set out on PrimaryBid.com before
making a decision to subscribe for New Ordinary Shares. Investors
should take independent advice from a person experienced in
advising on investment in securities such as the New Ordinary
Shares if they are in any doubt.
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END
MSCFLFLEEAISLIL
(END) Dow Jones Newswires
May 14, 2021 11:31 ET (15:31 GMT)
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