Board Change and Formal Sale Process Update

Futura Medical plc (AIM: FUM), the consumer healthcare group behind Eroxon® that specialises in the development and global commercialisation of innovative and clinically proven sexual health products, announces an update to its Board and finance function as well as an update on the Company's M&A Process and Formal Sale Process ("FSP").

Board and finance function arrangements

Angela Hildreth has informed the Board of her decision to step down from her roles as Finance Director and Chief Operating Officer in order to pursue other opportunities. Following an orderly handover of her executive responsibilities, this change will take effect on 13 November 2026.

Angela will remain on the Board as a Non-Executive Director for the duration of the Company's current M&A Process and FSP, providing continuity and allowing the Company to retain access to her knowledge of the business as required during this important period.

To support the Company throughout the M&A Process and FSP, the Company has appointed Madelein (“Maddy”) Kennedy, through MadJak Associates Limited t/a CFO4Growth, as Interim Chief Financial Officer on a consultancy basis. Maddy will commence her role on 12 October 2026.

Maddy is a highly experienced finance executive with more than 30 years' experience including senior finance roles across life sciences, healthcare and AIM-quoted companies. Since 2010, she has provided fractional CFO support to SME life science and technology businesses across strategic review, fundraising, M&A, IPO and exit situations. She previously served as Chief Financial Officer of Lab21 Limited and Finance Director of AIM-listed Alliance Pharma plc, where she led the financial and legal workstreams for a number of acquisitions and supported the Company’s AIM flotation and subsequent fundraisings. Maddy currently serves as a Non-Executive Director and Audit Committee member of AIM-listed Nuformix plc and Heartbeat Care CIC. Her experience in financial management, transaction execution and supporting businesses through periods of strategic change is directly relevant to Futura’s requirements during the M&A Process and FSP.

To support the transition of Angela's executive responsibilities, the Company has also appointed ESGovernance Ltd to provide outsourced Company Secretarial and governance support. ESGovernance will support the Board across Company Secretarial, Board and committee administration, statutory and governance processes during the M&A Process and FSP.

Update on M&A Process and Formal Sale Process

The Company also provides an update on the M&A Process and Formal Sale Process announced on 3 September 2026.

In that announcement, the Company stated that interested parties would, following entry into appropriate non-disclosure arrangements and receipt of further information on the business, be invited to submit non-binding offers by 2 October 2026.

Following a positive level of interest received since 3 September 2026, the Company has now started to circulate its detailed information memorandum to a number of interested parties participating in the process. Accordingly, the Board currently expects interested parties to be invited to submit non-binding offers over approximately the coming four weeks. The precise timing will remain subject to progress in the process and engagement with those interested parties. The Board will make further announcements as appropriate.

Shareholders are advised that there can be no certainty that any offers will be made as a result of the M&A Process or FSP, that any sale or other transaction will be concluded, nor as to the terms on which any offer or other transaction may be made

Andrew Unitt, Chair of Futura Medical, commented:

"On behalf of the Board, I would like to thank Angela for her significant contribution to Futura in her executive role. We are pleased that she has agreed to remain on the Board as a Non-Executive Director through the current strategic process, allowing the Company to retain access to her considerable knowledge and experience during the transition.

“The appointments of Maddy and ESGovernance provide Futura with experienced and flexible specialist finance and governance support appropriate to the Company’s current requirements. Maddy brings substantial life sciences, AIM and transaction experience, which will be particularly valuable as we progress the M&A Process and Formal Sale Process.

"The Board remains focused on progressing these processes in a manner designed to preserve and realise value for shareholders and will provide further updates as appropriate."

Notice related to financial advisers

Present Value Ltd ("Present Value") is acting exclusively for Futura and for no one else in connection with the M&A Process and the Formal Sale Process and will not be responsible to anyone other than Futura for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.

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