3 May 2017

Grant of Options and RSUs and PDMR Dealings

RNS Number : 0681E
Verona Pharma PLC
03 May 2017
 

Grant of Options and RSUs and PDMR Dealings

 

May 3, 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, announces that 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:

 

•              3,430,316 options to purchase Ordinary Shares;

•              129,564 options to purchase ADSs representing 1,036,512 Ordinary Shares;

•              853,220 RSUs; and

•              24,877 RADSUs representing 199,016 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

1,385,598 Ordinary Shares

346,395 RSUs

Vikas Sinha

15,048 ADSs

(Representing 120,384 Ordinary Shares)

-

Piers Morgan

802,690 Ordinary Shares

200,669 RSUs

Ken Newman

99,516 ADSs

(Representing 796,128 Ordinary Shares)

24,877 RADSUs

(Representing 199,016 RSUs)

 

The options over Ordinary Shares have an exercise price of £1.32 per Ordinary Share. The options over ADSs have an exercise price of £10.56 per ADS. The RSUs have a value of £1.32 per RSU and the RADSUs have a value of £10.56 per RADSU.

 

The options, RSUs and RADSUs set forth in the table above (other than those granted to Mr Sinha) 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 options granted to Mr Sinha will vest in three 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

Jan-Anders Karlsson, Chief Executive Officer

Tel: +44 (0)20 3283 4200

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

 

 

 

 

 

 

 

 



 

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:  £1.32

 

Options over 1,385,598 Ordinary Shares

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

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

346,395

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

N/a (single transaction)

e)

 

Date of the transaction

 

 

28 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

 

Non-Executive 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 ("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:  US9250501064

 

b)

 

Nature of the transaction

 

Issue of options over ADSs

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

Exercise Price:  £10.56

 

Options over 15,048 ADSs (representing 120,384 Ordinary Shares)

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

N/a (single transaction)

e)

 

Date of the transaction

 

 

26 April 2017

f)

 

Place of the transaction

 

NASDAQ

 



 

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:  £1.32

 

Options over 802,690  Ordinary Shares

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

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

200,669

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

N/a (single transaction)

e)

 

Date of the transaction

 

 

28 April 2017

f)

 

Place of the transaction

 

London Stock Exchange, AIM



 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Ken Newman

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:  £10.56

Options over 99,516 ADSs

(representing 796,128 Ordinary Shares)

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

N/a (single transaction)

e)

 

Date of the transaction

 

 

26 April 2017

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

24,877
(representing 199,016 Ordinary Shares)

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

N/a (single transaction)

e)

 

Date of the transaction

 

 

28 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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