Business
Exercise of Warrants
Exercise of Warrants.
About this update from Futura Medical Plc
[{"type":"text","content":"\n\n12 June 2023\nFutura Medical plc\n(\"Futura\" or the \"Company\")\nExercise of Warrants, Issue of Equity and Total Voting Rights\nFutura Medical plc (AIM: FUM), a pharmaceutical company developing a portfolio of innovative products based on its proprietary, transdermal DermaSys® drug delivery technology and currently focused on sexual health and pain, announces that it has today received a warrant exercise notice (the \"Notice\") from Lombard Odier Asset Management (Europe) Limited (\"Lombard Odier\") in respect of 10,937,500 ordinary shares of 0.2 pence in the Company (\"Ordinary Shares\"), with an exercise price of 40 pence per share. The Notice is in respect of all warrants previously held by Lombard Odier. Proceeds of £4,375,000 will be received by the Company in respect of the warrant exercise.\nApplication will be made for the 10,937,500 Ordinary Shares to be admitted to trading on AIM (\"Admission\") and it is expected that Admission will occur on or around 16 June 2023.\nTotal voting rights\nFollowing Admission, the Company's enlarged issued share capital will comprise 299,071,457 Ordinary Shares, with one voting right per share. The Company does not hold any Ordinary Shares in treasury and therefore the total number of Ordinary Shares with voting rights in the Company is 299,071,457.\nThe above figure of 299,071,457 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 to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.\nJames Barder, Futura's Chief Executive Officer, commented: \"Support from all our shareholders provides the company with continued cash security from which to grow and look to the future with confidence. I welcome today's announcement and the support from Lombard Odier, as these funds provide Futura Medical with good visibility into 2025 as the Company prepares for the next chapter of growth with anticipated launches, and the scale up of commercialisation of MED3000\".\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019. Upon th...