4 April 2019

Grant of Options and RSUs and PDMR Dealings

LONDON, April 04, 2019 (GLOBE NEWSWIRE) -- Verona Pharma plc (AIM:VRP) (Nasdaq:VRNA) (“Verona Pharma”), a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for respiratory diseases, announces that, on April 1, 2019 (the “Grant Date”), it granted the following options over ordinary shares of £0.05 each (the “Ordinary Shares”) and American Depositary Shares (“ADS”) and restricted share units (“RSUs”) and Restricted American Depositary Share Units (“RADSUs”) to directors and employees of Verona Pharma under and in accordance with Verona Pharma’s 2017 Incentive Award Plan (which is set out in Verona Pharma’s 2018 annual report and 20-F):

  • 2,592,322 options to purchase Ordinary Shares;
  • 163,841 options to purchase ADSs, representing 1,310,728 Ordinary Shares;
  • 523,392 RSUs; and
  • 27,138 RADSUs, representing 217,104 Ordinary Shares.

Each RSU and RADSU represents an unfunded, unsecured right to receive, on the applicable settlement date, one Ordinary Share or the equivalent number of ADSs, as applicable, or an amount in cash or other consideration. Except where the context indicates otherwise, references hereunder to the Ordinary Shares shall be deemed to include a number of ADSs equal to an Ordinary Share.  No consideration was paid in respect of the grant of awards.

PDMR Dealings

Verona Pharma notifies the following transactions by persons discharging managerial responsibilities (“PDMRs”) in its Ordinary Shares through the grant of options over Ordinary Shares and ADSs and RSUs under and in accordance with Verona Pharma’s 2017 Incentive Award Plan.

Name Options over RSUs and RADSUs
Dr. Jan-Anders Karlsson, CEO 1,026,944 Ordinary Shares 266,424 RSUs
Piers Morgan, CFO 359,430 Ordinary Shares 93,247 RSUs
Dr. Kathleen Rickard, CMO 70,000 ADSs
(representing 560,000 Ordinary Shares)
15,000 RADSUs
(representing 120,000 RSUs)
Claire Poll, Legal Counsel 256,735 Ordinary Shares 66,603 RSUs

The options over Ordinary Shares have an exercise price of £0.58 per Ordinary Share, being the closing mid-market price on March 29, 2019. The options over ADSs have an exercise prce of £4.64 per ADS, on the basis that each ADS represents 8 ordinary shares. The RSUs also have a value of £0.58 per RSU and the RADSUs have a value of £4.64 per RADSU.

The options, RSUs and RADSUs set forth in the table above will vest as to 50% of the Ordinary Shares or ADSs (as appropriate) in three substantially equal annual instalments following the Grant Date and as to 50% of the Ordinary Shares or ADSs (as appropriate) in four substantially equal annual instalments following the Grant Date.

The notification of dealing form in respect of option/RSU awards for each PDMR can be found below.

For further information, please contact:

Verona Pharma plc Tel: +44 (0)20 3283 4200
Jan-Anders Karlsson, Chief Executive Officer info@veronapharma.com
Victoria Stewart, Director of Communications  
   
Stifel Nicolaus Europe Limited (Nominated Adviser and UK Broker) Tel: +44 (0) 20 7710 7600
Stewart Wallace / Jonathan Senior / Ben Maddison SNELVeronaPharma@stifel.com

 

1 Details of the person discharging managerial responsibilities / person closely associated 
       
a) Name Dr. Jan-Anders Karlsson  
       
2 Reason for the notification    
       
a) Position/status Chief Executive Officer  
       
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 Issue of options over Ordinary Shares  
       
c) Price(s) and volume(s)    
    Price(s) Volume(s)
       
    Exercise Price:  £0.58 1,026,944 Options over Ordinary Shares
d) Aggregated information N/a (single transaction)  
       
  - Aggregated volume    
       
  - Price    
       
e) Date of the transaction 1 April 2019  
       
       
f) Place of the transaction London Stock Exchange, AIM  
       
 
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 transaction Grant of RSUs, each of which represents an unfunded, unsecured right to receive, on the applicable settlement date, one  Ordinary Share or an amount in cash or other consideration  
       
c) Price(s) and volume(s)    
    Price(s) Volume(s)
       
    No consideration 266,424
d) Aggregated information N/a (single transaction)  
       
  - Aggregated volume    
       
  - Price    
       
e) Date of the transaction 1 April 2019  
       
       
f) Place of the transaction London Stock Exchange, AIM  
       
 
1 Details of the person discharging managerial responsibilities / person closely associated 
       
a) Name Piers Morgan  
       
2 Reason for the notification    
       
a) Position/status Chief Financial Officer  
       
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 Issue of options over Ordinary Shares  
       
c) Price(s) and volume(s)    
    Price(s) Volume(s)
       
    Exercise Price:  £0.58 Options over 359,430  Ordinary Shares
       
d) Aggregated information N/a (single transaction)  
       
  - Aggregated volume    
       
  - Price    
       
e) Date of the transaction 1 April 2019  
       
       
f) Place of the transaction London Stock Exchange, AIM  
       
 
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 transaction Grant of RSUs, each of which represents  an unfunded, unsecured right to receive, on the applicable settlement date, one Ordinary Share or an amount in cash or other consideration  
       
c) Price(s) and volume(s)    
    Price(s) Volume(s)
       
    No consideration 93,247
d) Aggregated information N/a (single transaction)  
       
  - Aggregated volume    
       
  - Price    
       
e) Date of the transaction 1 April 2019  
       
       
f) Place of the transaction London Stock Exchange, AIM  
       
 
1 Details of the person discharging managerial responsibilities / person closely associated 
       
a) Name Dr. Kathleen Rickard  
       
2 Reason for the notification    
       
a) Position/status Chief Medical Officer  
       
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 (“ADSs”), representing ordinary shares of 5p each, on deposit with a U.S. banking institution selected by the Company and which are registered pursuant to a Form F-6.  
       
       
  Identification code ISIN Code: GB00BYW2KH80  
       
b) Nature of the transaction Issue of options over ADSs  
       
c) Price(s) and volume(s)    
    Price(s) Volume(s)
       
    Exercise Price:  £4.64 Options over 70,000 ADSs
      (representing 560,000 Ordinary Shares)
d) Aggregated information N/a (single transaction)  
       
  - Aggregated volume    
       
  - Price    
       
e) Date of the transaction 1 April 2019  
       
       
f) Place of the transaction NASDAQ  
       
 
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 ADSs  
       
  Identification code ISIN Code:  US9250501064  
       
b) Nature of transaction Grant of RADSUs, each of which represents an unfunded, unsecured right to receive, on the applicable settlement date, one ADS or an amount in cash or other consideration  
       
c) Price(s) and volume(s)    
    Price(s) Volume(s)
       
    No consideration 15,000
      (representing 120,000 Ordinary Shares)
d) Aggregated information N/a (single transaction)  
       
  - Aggregated volume    
       
  - Price    
       
e) Date of the transaction 1 April 2019  
       
       
f) Place of the transaction NASDAQ  
       
 
1 Details of the person discharging managerial responsibilities / person closely associated 
       
a) Name Claire Poll  
       
2 Reason for the notification    
       
a) Position/status Legal Counsel  
       
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 Issue of options over Ordinary Shares  
       
c) Price(s) and volume(s)    
    Price(s) Volume(s)
       
    Exercise Price:  £0.58 Options over 256,735 Ordinary Shares
       
d) Aggregated information N/a (single transaction)  
       
  - Aggregated volume    
       
  - Price    
       
e) Date of the transaction 1 April 2019  
       
       
f) Place of the transaction London Stock Exchange, AIM  
       

 

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 transaction Grant of RSUs, each of which represents  an unfunded, unsecured right to receive, on the applicable settlement date, one Ordinary Share or an amount in cash or other consideration  
       
c) Price(s) and volume(s)    
    Price(s) Volume(s)
       
    No consideration 66,603
d) Aggregated information N/a (single transaction)  
       
  - Aggregated volume    
       
  - Price    
       
e) Date of the transaction 1 April 2019  
       
       
f) Place of the transaction London Stock Exchange, AIM  
       

 

 


For further information please contact:

 

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

N+1 Singer (Nominated Adviser and UK Broker)
Aubrey Powell /Jen Boorer /Iqra Amin (Corporate Finance)
Brough Ransom /Mia Gardner (Corporate Broking)
Tel: +44 (0)20 3283 4200

 

 

Optimum Strategic Communications
(European Media and Investor enquiries)
Mary Clark, Annemarieke Ezendam
Hollie Vile
Tel: +44 (0) 203 950 9144
verona@optimumcomms.com

Argot Partners (Investor enquiries)
Stephanie Marks
Tel. +1 646 644 9590
verona@argotpartners.com


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T: +44 (0)203 283 4200

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