Futura Medical PLC, a pharmaceutical company specializing in sexual health products, has announced the issuance of 43,500 new ordinary shares of 0.2 pence each to its Non-Executive Directors as part of their 2023 remuneration. The shares were issued at 51.50 pence per share and will rank pari passu with the existing issued Ordinary Shares of the Company. The Non-Executive Directors, including Jeff Needham and Andrew Unitt, received a portion of their remuneration in the form of these shares, with John Clarke, a former Non-Executive Director, also receiving shares in accordance with his service agreement.
The Company has also disclosed that the shares element of the Non-Executive Directors' remuneration for 2024 will be awarded at 27.10 pence per Ordinary Share, with the directors set to receive these shares in January 2025. Additionally, Futura Medical PLC has applied for the new Ordinary Shares to commence trading on AIM at 8:00 am on 22 January 2024. Following this issue, the Company will have 301,449,451 ordinary shares in issue, each carrying one voting right.
Futura Medical PLC's breakthrough treatment for erectile dysfunction, MED3000, has been granted marketing authorization by the FDA in the US, CE marked in Europe, and UKCA marked in the UK. The company has commercial agreements with Haleon for the US market and Cooper Consumer Health for Europe. Futura Medical PLC is based in Guildford, Surrey, and its shares trade on the AIM market of the London Stock Exchange.
For further information, individuals can contact Futura Medical PLC or its Nominated Adviser and Sole Broker, Liberum. Media inquiries can be directed to Optimum Strategic Communications. Full details of the Non-Executive Directors' remuneration will be included in the Company's Annual Report & Accounts.
This news provides insight into Futura Medical PLC's remuneration practices for its Non-Executive Directors and the anticipated trading of new Ordinary Shares, offering transparency to shareholders and the public.