2 May 2017

Director/PDMR Shareholding

RNS Number : 7852D
Verona Pharma PLC
02 May 2017
 

This is a re-release of the Verona Pharma plc announcement released on 28 April 2017 at 17.40 under RNS No 7827D.

 

The announcement text is unchanged and is reproduced in full below.

 

 

Verona Pharma Announces Director Purchases and Related Party Transactions

 

April 28, 2017, LONDON - Verona Pharma plc (AIM: VRP) ("Verona Pharma"), a clinical-stage biopharmaceutical company focused on developing and commercialising innovative therapeutics for the treatment of respiratory diseases with significant unmet needs, makes the following announcement further to the announcement released yesterday in respect of the Global Offering and the Shareholder Private Placement.  Capitalised terms in this announcement will have the same meanings to those defined in the announcement released yesterday regarding the Global Offering, unless otherwise indicated.

 

Director Purchases

 

Verona Pharma notifies the following transactions by persons discharging managerial responsibilities ("PDMRs") in its ordinary shares through participation in the Global Offering or, in the case of Dr David Ebsworth, the Shareholder Private Placement.

 

Name

No. of ADSs to be purchased

No. of ordinary shares to be purchased

Total

consideration

Total number of ordinary shares or ADSs held following closing

Dr David Ebsworth

-

13,373

£17,652.36

117,657

(ordinary shares)

Vikas Sinha

22,222

-

$299,997.00

22,222

(ADSs)

 

The notification of dealing form for each PDMR can be found below.

 

AIM Rule 13 - Related Party Transactions

 

Verona Pharma has been informed that certain persons who are related parties as defined in the AIM Rules for Companies (the "AIM Rules") will be purchasing ADSs or ordinary shares in the Global Offering.  The participation of the following persons in the Global Offering, by virtue of their each owning over 10% of the current issued share capital of Verona Pharma and their respective participations in the Global Offering, each constitutes a related party transaction for the purposes of the AIM Rules.

 

The independent directors for the purposes of the Global Offering (being all the Directors save for those connected to these organisations participating in the Global Offering as detailed below), having consulted with the Company's nominated adviser, N+1 Singer, consider that the terms of the related party transactions are fair and reasonable in so far as Verona Pharma's shareholders are concerned.

 

Name

No. of ADSs to be purchased

No. of ordinary shares to be purchased

Total consideration

Novo A/S

740,740

-

$9,999,990.00

Funds affiliated with Vivo Ventures

704,225

-

$9,507,037.50

 

 

 

 

 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction. Securities may not be oered or sold in the United States absent registration or an exemption from registration under the United States Securities Act of 1933, as amended (the "Securities Act"). Any public oering of securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about the issuer and its management and financial statements. This press release is being issued pursuant to and in accordance with Rule 135e under the Securities Act.

 

 

For further information, please contact:

 

Verona Pharma plc

Tel: +44 (0)20 3283 4200

Jan-Anders Karlsson, Chief Executive Officer

info@veronapharma.com

 

 

N+1 Singer (Nominated Adviser and UK Broker)

Tel: +44 (0)20 7496 3000

Aubrey Powell / James White

 

 

 

FTI Consulting (UK Media and Investor enquiries)

Tel: +44 (0)20 3727 1000

Simon Conway / Stephanie Cuthbert /

Natalie Garland-Collins

veronapharma@fticonsulting.com

 

 

ICR, Inc. (US Media and Investor enquiries)

 

James Heins

Tel: +1 203-682-8251

James.Heins@icrinc.com

Stephanie Carrington

Tel. +1 646-277-1282

Stephanie.Carrington@icrinc.com

 

The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Dr David Ebsworth

2

 

Reason for the notification

 

a)

 

Position/status

 

Non-Executive Chairman

 

b)

 

Initial notification /Amendment

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Verona Pharma plc

b)

 

Legal Entity Identifier 

 

213800EVI6O6J3TIAL06

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

 

Description of the financial instrument, type of instrument

 

Ordinary Shares of 5p each

 

 

Identification code

 

ISIN Code: GB00BYW2KH80

 

b)

 

Nature of the transaction

 

Purchase of Ordinary Shares

c)

 

Price(s) and volume(s)

 

 

 

Price

Volume

£1.32

 

13,373

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

N/A (single transaction)

e)

 

Date of the transaction

 

26 April 2017

f)

Place of the transaction

London Stock Exchange, AIM

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Vikas Sinha

2

 

Reason for the notification

 

a)

 

Position/status

 

Director

 

b)

 

Initial notification /Amendment

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Verona Pharma plc

b)

 

Legal Entity Identifier 

 

213800EVI6O6J3TIAL06

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

 

Description of the financial instrument, type of instrument

 

American Depositary Shares (each American Depositary Share represents eight Ordinary Shares of 5p each in Verona Pharma plc)

 

Identification code

 

ISIN Code: US9250501064

 

b)

 

Nature of the transaction

 

Purchase of American Depositary Shares

 

c)

 

Price(s) and volume(s)

 

 

 

Price

Volume

$13.50

 

22,222

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

N/A (single transaction)

e)

 

Date of the transaction

 

27 April 2017

f)

Place of the transaction

NASDAQ

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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For further information please contact:

 

Verona Pharma plc
Jan-Anders Karlsson, CEO
Tel: +44 (0)20 3283 4200
info@veronapharma.com

N+1 Singer (Nominated Adviser and UK Broker)
Aubrey Powell / James White
Tel: +44 (0)20 7496 3000

 

 

FTI Consulting
Simon Conway / Stephanie Cuthbert / Natalie Garland-Collins
Tel: +44 (0)20 3727 1000
veronapharma@fticonsulting.com

ICR, Inc. (US Media and Investor enquiries)
James Heins
Tel: +1 203-682-8251
James.Heins@icrinc.com

Stephanie Carrington
Tel. +1 646-277-1282
Stephanie.Carrington@icrinc.com


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T: +44 (0)203 283 4200

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