Business
Announcement of Fundraising
Announcement of Fundraising.
About this update from Futura Medical Plc
[{"type":"text","content":"\n Futura Medical PLC\n28 November 2003\n\n\n\nPress Release 28 November 2003\n\n\n Futura Medical announces successful fundraising\n\n\nFutura Medical plc ('Futura'), the AIM-listed pharmaceutical and medical device\ngroup that develops innovative products for the sexual healthcare market, has\nexercised the first of three call options under the subscription agreement with\nLong Fleet Systems Inc signed in June 2003.\n\nThe sum of £800,000 (£780,000 net of costs) has been raised by the issue of\n1,232,855 new ordinary shares of 0.2 pence each at a price of 64.89 pence per\nshare. This is at the agreed 10 per cent discount to the recent average share\nprice in accordance with the terms of the subscription agreement. Application\nhas been made for the new shares to be admitted to trading on AIM. The new\nshares will rank pari passu with existing ordinary shares and dealings are\nexpected to commence at 8.00am on 1 December 2003.\n\nWarrants are to be issued over 250,000 ordinary shares exercisable at any time\nover the next 12 months at an exercise price of 64.89 pence per ordinary share\nin accordance with the subscription agreement with Long Fleet Systems Inc.\n\nJames Barder, Chief Executive of Futura Medical, said: 'We are pleased to have\ncompleted this additional round of funding, which sets us on an even firmer\nfooting in building a successful pharmaceutical and medical device group to\nserve the growing sexual healthcare market.'\n\n\nFor further information:\nFutura Medical plc\nJames Barder, Chief Executive Tel: +44 (0) 1483 845 670\nmail to: [email protected] www.futuramedical.co.uk\n\nMedia enquiries:\nBankside\nPeter Curtain / Alex Tweed Tel: +44 (0) 20 7444 4140\nmailto:[email protected] www.bankside.com\n\n\nNotes to Editors:\n\n\nFutura Medical plc\n\nFutura Medical ('Futura' or 'the Company') is an AIM-listed pharmaceutical and\nmedical device group developing innovative products for sexual health. The\nCompany is developing a portfolio of products with the intention of licensing\ntheir manufacture and distribution to major pharmaceutical and healthcare\ngroups. Several agreements have been signed.\n\nFutura's primary focus is on Over the Counter (OTC) products with particular\nappeal to men and women who are reluctant to discuss potentially embarrassing\nsexual matters with their doc...