6th Mar 2009 07:00
|
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:
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Futura Medical plc |
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James Barder, Chief Executive |
Tel: +44 (0) 1483 685 670 |
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mail to: [email protected] |
www.futuramedical.co.uk |
|
Canaccord Adams |
|
|
Ryan Gaffney / Adria Da Breo Richards |
Tel: +44 (0) 20 7050 6500 |
|
For media enquiries please contact: |
|
|
Buchanan Communications |
|
|
Mark Court / Rebecca Skye Dietrich / Stasa Filiplic |
Tel: +44 (0) 20 7466 5000 |
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
Related Shares:
Futura Medical