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RNS Number : 3898C Futura Medical PLC 12 June 2023
12 June 2023
Futura Medical plc
("Futura" or the "Company")
Exercise of Warrants, Issue of Equity and Total Voting Rights
Futura Medical plc (AIM: FUM), a pharmaceutical company developing a portfolio
of innovative products based on its proprietary, transdermal DermaSys® drug
delivery technology and currently focused on sexual health and pain, announces
that it has today received a warrant exercise notice (the "Notice") from
Lombard Odier Asset Management (Europe) Limited ("Lombard Odier") in respect
of 10,937,500 ordinary shares of 0.2 pence in the Company ("Ordinary Shares"),
with an exercise price of 40 pence per share. The Notice is in respect of all
warrants previously held by Lombard Odier. Proceeds of £4,375,000 will be
received by the Company in respect of the warrant exercise.
Application will be made for the 10,937,500 Ordinary Shares to be admitted to
trading on AIM ("Admission") and it is expected that Admission will occur on
or around 16 June 2023.
Total voting rights
Following Admission, the Company's enlarged issued share capital will comprise
299,071,457 Ordinary Shares, with one voting right per share. The Company does
not hold any Ordinary Shares in treasury and therefore the total number of
Ordinary Shares with voting rights in the Company is 299,071,457.
The above figure of 299,071,457 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 to their interest in, the share capital
of the Company under the FCA's Disclosure Guidance and Transparency Rules.
James Barder, Futura's Chief Executive Officer, commented: "Support from all
our shareholders provides the company with continued cash security from which
to grow and look to the future with confidence. I welcome today's announcement
and the support from Lombard Odier, as these funds provide Futura Medical with
good visibility into 2025 as the Company prepares for the next chapter of
growth with anticipated launches, and the scale up of commercialisation of
MED3000".
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit)
Regulations 2019. Upon the publication of this announcement via the Regulatory
Information Service, this inside information is now considered to be in the
public domain.
-ENDS-
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 (http://www.futuramedical.com/)
Nominated Adviser and Sole Broker:
Liberum
Phil Walker/ Richard Lindley/ Ben Cryer
Tel: +44 (0) 20 3100 2000
For media enquiries please contact:
Optimum Strategic Communications
Hollie Vile/ Jonathan Edwards/ Zoe Bolt
Email: futuramedical@optimumcomms.com
Tel: +44 (0) 203 882 9621
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