Do I need to sell my AIM quoted Ordinary Shares or must I convert them into Verona Pharma’s Nasdaq listed ADSs?
Shareholders who own Verona Pharma Ordinary Shares now have three options:
1. You may convert your Ordinary Shares into ADSs tradeable on Nasdaq
The process for converting your Ordinary Shares is set out in the following pages.
If your investment is currently managed by a broker, your broker will be able to manage the conversion process for you in accordance with the process set out in Appendix A. Please see "My broker currently holds my Ordinary Shares within a CREST nominee account – how do I convert my shares to ADSs” below.
If you wish to continue to hold your investment directly, without engaging the services of a broker, it is possible for ADSs to be held on the books of the Company’s ADS depositary, Citibank, in Direct Registration Shares (DRS), electronic book-entry format through Citibank’s US transfer agent, Computershare US. Please see “I want to convert to ADSs but do not want to engage a broker at this time – how do I do this?” below.
If you currently hold your Ordinary Shares in certificated form, for further information on how to convert your shares to ADSs, please see “I currently hold my Ordinary Shares in the form of a paper certificate – how does the AIM Delisting affect me?” below.
2. You may choose to continue to hold your Ordinary Shares
Ordinary Shares will continue to be a valid equity interest in the Company with full voting rights, rights to future dividends, etc., as currently enjoyed by holders of Ordinary Shares. The only change following the AIM Delisting is that the Ordinary Shares will no longer be publicly tradeable. Please see “Can I continue to hold Ordinary Shares after the AIM Delisting” below.
3. You may choose to sell your AIM quoted Ordinary Shares prior to the AIM Delisting becoming effective and, if you wish to maintain an equity interest in Verona Pharma, you could choose to reinvest in Verona Pharma by buying Nasdaq listed ADSs (Nasdaq ticker: VRNA). Dealing and tax costs would likely apply to the AIM and/or Nasdaq transactions.