Remuneration of Non-Executive Directors and TVR's
126,116 new ordinary shares issued to Non-Executive Directors as part of 2024 remuneration at 27.10p per share.
- New ordinary shares issued 126,116
- Issue price per share 27.10 pence
- Total voting rights post-issue 303,829,684
- Share price for 2025 remuneration 32.17 pence
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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 126,116 new ordinary shares of 0.2 pence each ("Ordinary Shares") in respect of the 2024 remuneration of its Non-Executive Directors .
Remuneration of Non-Executive Directors
In accordance with the terms of their service agreements, the Non-Executive Directors receive 25 per cent. of their remuneration in the form of Ordinary Shares. For 2024, these were issued at 27.10 pence per share, being the average closing mid-market price of the last 10 trading days of 2023 (as announced via RNS on 17 January 2024).
The 126,116 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 2024 remuneration | Total number of ordinary shares held | Percentage of the Company's resulting issued share capital |
|---|---|---|---|
| Jeff Needham | 55,600 | 83,561 | 0.01% |
| Andrew Unitt | 30,221 | 68,717 | 0.01% |
| Roy Davis | 40,295 | 40,295 | 0.01% |
The shares element of the Non-Executive Directors' remuneration for 2025 will be awarded at 32.17 pence per Ordinary Share, being the average closing mid-market price of the last 10 trading days of 2024. The Non-Executive Directors will receive these shares in January 2026.
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 16 January 2025.
Immediately following the above issue, the Company will have 303,829,684 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 303,829,684 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.
| a) | Name | Jeff Needham | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Director/ PDMR | ||||
| b) | Initial notification /Amendment | Initial notification | ||||
| a) | Name | Futura Medical plc | ||||
| b) | LEI | 21380053QLT46UNV2303 | ||||
| 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 | 16 January 2025 | ||||
| f) | Place of the transaction | Outside of trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Andrew Unitt | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Director/ PDMR | ||||
| b) | Initial notification /Amendment | Initial notification | ||||
| a) | Name | Futura Medical plc | ||||
| b) | LEI | 21380053QLT46UNV2303 | ||||
| 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 | 16 January 2025 | ||||
| f) | Place of the transaction | Outside of trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Roy Davis | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Director/ PDMR | ||||
| b) | Initial notification /Amendment | Initial notification | ||||
| a) | Name | Futura Medical plc | ||||
| b) | LEI | 21380053QLT46UNV2303 | ||||
| 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 | 16 January 2025 | ||||
| f) | Place of the transaction | Outside of trading venue |
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