7th Dec 2007 07:00
Futura Medical PLC07 December 2007 For immediate release 7 December 2007 Futura Medical Plc ("Futura" or "the Company") Long Term Incentive Scheme Futura Medical plc (AIM: FUM), the pharmaceutical group that develops innovativeproducts for the consumer healthcare market, announces the introduction of along term incentive scheme for the Executive Directors under which shares willbe awarded subject to the achievement of key milestone events at the Company. The Board believes that this Long Term Incentive Scheme ("LTIS"), which has beendeveloped and reviewed over the past 12 months, is in the interests of allshareholders as it aligns the interests of the Company's Directors with those ofall other shareholders. The Executive Directors currently have beneficial interests in 1,062,687 Futurashares representing 1.8% of the Company's issued share capital and also holdexisting options over 350,000 Futura shares which currently represent 0.6% ofthe Company's issued share capital before the introduction of this LTIS. Therehave been no new grants of options to Directors since 22 March 2005. The actual quantum of the awards received by the Executive Directors will dependon achieving set milestones and the share price at the time relative to targetsset in advance. As a guide, if all the approved milestones are achieved at theshare price targets over the next 36 months then the additional shares issued inafter tax settlement would be equivalent to approximately 1.3% of the currentshare capital. The detailed scheme rules will be available shortly on theCorporate Governance pages of the Company's website. For any further information please contact:Futura Medical plcJames Barder, Chief Executive Tel: +44 (0) 1483 685 670mail to: james.barder@futuramedical.co.uk www.futuramedical.co.uk Canaccord Adams Tel: +44 (0) 20 7050 6500Mark Ashurst / Adria Da Breo For any media enquiries please contact:Buchanan Communications Tel: +44 (0) 020 7466 5000Mark Court / Rebecca Dietrich Notes Futura Medical plc Futura Medical is a pharmaceutical group that develops innovative products forconsumer healthcare. The Company is developing a portfolio of products and itsstrategy is to license their manufacture and distribution to majorpharmaceutical and healthcare groups. Futura is based in Guildford, Surrey, and its shares trade on the AIM market ofthe London Stock Exchange. www.futuramedical.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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