Business
Remuneration of Non-Executive Directors and TVR
Remuneration of Non-Executive Directors and TVR.
About this update from Futura Medical Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3634Y\n Futura Medical PLC\n 13 January 2022\n \n \n \n 13 January 2022\n \n \n \n \n \n Futura Medical plc\n \n \n (\"Futura\" or the \"Company\")\n \n \n Remuneration of Non-Executive Directors and Total Voting Rights\n \n \n Futura Medical plc (AIM: FUM), a pharmaceutical company developing a portfolio of innovative products for sexual health and pain relief, announces the issue of 145,556 new ordinary shares of 0.2 pence each (\"Ordinary Shares\") in respect of the 2021 remuneration of its Non-Executive Directors.\n \n \n \n \n In accordance with the terms of their service agreements, John Clarke, Non-Executive Director, and\n Jonathan Freeman, former Non-Executive Director, receive 25-30 per cent of their remuneration in the form of Ordinary Shares. For 2021, these were issued at 14.97 pence per share, being the average closing mid-market price of the last 10 trading days of 2020 (as announced via RNS on 14 April 2021).\n \n \n \n \n \n The 145,556 new Ordinary Shares shall rank pari passu with the existing issued Ordinary Shares and have been issued to the Non-Executive Directors as follows:\n \n \n \n \n \n \n \n \n Director \n \n \n \n \n Number of Ordinary Shares issued for 2021 remuneration\n \n \n \n \n Total number of Ordinary Shares held\n \n \n \n \n Percentage of the Company's resulting issued share capital \n \n \n \n \n \n \n John Clarke\n \n \n \n \n 107,998\n \n \n \n \n 750,540\n \n \n \n \n 0.26%\n \n \n \n \n \n \n Jonathan Freeman*\n \n \n \n \n 37,558\n \n \n \n \n 259,840\n \n \n \n \n 0.09%\n \n \n \n \n \n \n \n \n \n \n \n * Stepped down from the Board on 31 December 2021\n \n \n \n \n \n The shares element of the Non-Executive Directors' remuneration for 2022 will be awarded at 36.36 pence per Ordinary Share, being the average closing mid-market price for the last 10 trading days of 2021. In addition, Jeff Needham will be awarded shares at 37.31 pence per Ordinary Share, being the average closing mid-market price in the 10 trading days prior to his appointment on 8 October 2021, in respect of the shares element of his pro-rata remuneration since appointment. These Ordinary Shares are expected to be issued in January 2023.\n \n \n \n \n \n Full details of the Non-Executive Directors' remuneration is included in ...