Issue of Equity

RNS Number : 4326O

Futura Medical PLC

06 March 2009

 



For immediate release

6 March 2009

Futura Medical plc

('Futura' or 'the Group' or 'the Company')

Issue of Equity and Director Share Purchases 

Futura Medical plc (AIM: FUM), the pharmaceutical group that develops innovative products for consumer healthcare, is pleased to announce the issue of 5,000,000 new ordinary shares of 0.2 pence each in the Company ('Ordinary Shares') to institutional and other investors at a price of 20 pence per share to raise gross proceeds of £1 million. All of Futura's Executive Directors have subscribed for shares in this fundraising, in which Canaccord Adams Limited ('Canaccord') acted as broker. 

The net proceeds of the fundraising will be used for general corporate and research and development purposes.

The Ordinary Shares will rank pari passu with the existing ordinary shares of the Company. Application has been made to AIM and it is anticipated that trading of the Ordinary Shares will commence on AIM at 8:00am on 12 March 2009. The Company's total issued shared capital following the admission of the Ordinary Shares will be 62,618,840. The total number of voting rights in Futura Medical plc will be 62,618,840.

The Executive Directors' relative subscription for Ordinary Shares in the fundraising is as follows:

Director's Name	Previous Beneficial Holding	Ordinary Shares Purchased	Price per Share	Revised Beneficial Holding	Revised Beneficial Holding %¹
William Potter	81,098	50,000	20p	131,098	0.2094%
James Barder²	303,712	125,000	20p	428,712	0.6846%
Derek Martin	Nil	125,000	20p	125,000	0.1996%
David Davies	407,572	125,000	20p	532,572	0.8505%

¹As a percentage of the enlarged issued share capital following the fundraising

²James Barder also has a non-beneficial interest in 416,500 ordinary shares

James Barder, Futura's Chief Executive, said: 'I am delighted to announce this fundraising, which will provide additional working capital ahead of our anticipated transformation into a revenue generating and cash generative company through the launch by SSL International plc of our innovative condom, CSD500. My fellow Executive Directors and I are very pleased to have participated in this fundraising, which will allow us to support the development of our exciting product pipeline.'

For any further information please contact:

Futura Medical plc
James Barder, Chief Executive	Tel: [phone]
mail to: [e-mail]	www.futuramedical.co.uk
Canaccord Adams
Ryan Gaffney / Adria Da Breo Richards	Tel: [phone]
For media enquiries please contact:
Buchanan Communications
Mark Court / Rebecca Skye Dietrich / Stasa Filiplic	Tel: [phone]

Notes to Editors

Futura Medical plc

Futura Medical is a pharmaceutical group that develops innovative products for consumer healthcare. The Company is developing a portfolio of products and its strategy is to license their manufacture and distribution to major pharmaceutical and healthcare groups.

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

www.futuramedical.co.uk

 

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