Remuneration of Non-Executive Directors

RNS Number : 7386K

Futura Medical PLC

04 January 2016

 

4 January 2016

Futura Medical plc

("Futura" or "the Company")

Remuneration of Non-Executive Directors

Futura Medical plc (AIM: FUM), the innovative healthcare company focused on advanced transdermal technology, announces the issue of 69,718 new ordinary shares of 0.2 pence each in respect of the 2015 remuneration of its Non-Executive Directors.

In accordance with the terms of their service agreements, Non-Executive Directors receive approximately 30 per cent of their remuneration in the Company's ordinary shares. For 2015 these were issued at 35.50 pence per share, being the average closing mid-price of the last 10 trading days of 2014 (as previously confirmed via RNS on 5 January 2015).

The 69,718 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 2015 remuneration	Total number of ordinary shares held	Percentage of the Company's issued share capital
John Clarke	42,583	119,551	0.12%
Jonathan Freeman	13,421	35,803	0.04%
Lisa Arnold	13,714	40,713	0.04%

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 8 January 2016.

Immediately following the above issue, the Company will have 99,092,318 ordinary shares in issue. Since the Company currently holds no shares in treasury, the total number of voting rights in the Company is therefore 99,092,318 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 and Transparency Rules.

The shares element of the Non-Executive Directors' remuneration for 2016 will be awarded at 28.45 pence per ordinary share, being the average closing mid-price of the last 10 trading days of 2015. The Non-Executive Directors will receive these shares at the end of the 2016 financial year.

Full details of Non-Executive Directors' remuneration will be included in the Company's Annual Report & Accounts.

For further information please contact:

Futura Medical plc
James Barder, Chief Executive + 44 (0) 1483 685 670 [e-mail] www.futuramedical.com
Nominated Adviser N+1 Singer Aubrey Powell / Liz Yong / Tom Smale [phone]
For media enquiries please contact:
Buchanan Communications Limited
Mark Court / Sophie Cowles / Stephanie Watson + 44 (0) 20 7466 5000

Notes to editors:

About 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.com

 

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