Business
PrimaryBid Offer
PrimaryBid Offer.
About this update from Futura Medical Plc
[{"type":"text","content":"\n \nRNS Number : 7188X Futura Medical PLC 20 December 2019 \n\n \n20 December 2019\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.\nTHIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF FUTURA MEDICAL PLC.\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.\nTHIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (\"FSMA\") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN 779021)\n \nFutura Medical plc\n(\"Futura\" or \"the Company\")\nPrimaryBid.com Offer\nFutura Medical PLC (LSE: FUM), the AIM listed pharmaceutical company developing a portfolio of innovative products based on its proprietary, transdermal Dermasys® drug delivery technology and focused on sexual health and pain, is pleased to announce, a conditional offer for subscription via PrimaryBid to raise £1.5 million (before expenses) (the \"PrimaryBid Offer\") of new ordinary shares of 0.2p each in the Company (\"New Ordinary Shares\") at an issue price of 8 pence per New Ordinary Share (the \"Issue Price\"), being a discount of 25.58% per cent to the closing mid-price on 19 December 2019. The Company also proposes to raise gross proceeds of £1.75 million by way of a subscription for 21,875,000 new Ordinary Shares at the Issue Price (the \"Subscription\") by Lombard Odier as announced at 4.30pm on 20 December 2019.\nIn addition, Lombard Odier will subscribe £1.5 million for 18,750,000 New Ordinary Shares under the PrimaryBid Offer, which subscription shall be subject to clawback in the event of an over-subscription under the PrimaryBid Offer. \nLombard Odier will receive up to 9,375,000 warrants to subscribe for further new Ordinary Shares at a price of 40 pence per share exercisable until the fifth anniversary of their issue, at a ratio of one warrant for every two shares allocated to it after clawback ...