Vernalis PLC Director/PDMR Shareholding (3959M)

TIDMVER

RNS Number : 3959M

Vernalis PLC

12 October 2016

12 October 2016

LSE: VER

Vernalis plc

Director/PDMR Dealing

Vernalis plc (LSE: VER) ("the Company") announces that David Mackney, Chief Financial Officer of the Company was today allotted 48,630 ordinary shares of 1 pence each ("Ordinary Shares") following his exercise of options under the Company's 2007 Bonus Long-Term Incentive Plan ("LTIP"). Mr Mackney subsequently sold 27,233 Ordinary Shares to settle payment of all tax and NI requirements in relation to the exercise as set out in the notification below.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

 
 1.   Details of PDMR / person closely associated with 
       them ("PCA") 
---  --------------------------------------------------------------------------- 
 a)   Name                            David Mackney 
---  ------------------------------  ------------------------------------------- 
 2.   Reason for the notification 
---  --------------------------------------------------------------------------- 
 a)   Position / status               Chief Financial Officer 
---  ------------------------------  ------------------------------------------- 
 b)   Initial notification            Initial notification 
       / amendment 
---  ------------------------------  ------------------------------------------- 
 3.   Details of the issuer, emission allowance market 
       participant, auction platform, auctioneer or auction 
       monitor 
---  --------------------------------------------------------------------------- 
 a)   Name                            Vernalis plc 
---  ------------------------------  ------------------------------------------- 
 b)   Legal Entity                    n/a 
       Identifier 
---  ------------------------------  ------------------------------------------- 
 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                  Ordinary shares of 1 pence each ("Ordinary 
       the financial                   Shares") 
       instrument                      GB00B3Y5L754 
---  ------------------------------  ------------------------------------------- 
 b)   Nature of the                   Exercise and Allotment of Ordinary 
       transaction                     Shares under the Company's LTIP 
---  ------------------------------  ------------------------------------------- 
 c)   Price(s) and                     Price(s)   Volume(s) 
       volume(s)                       ---------  ----------------------- 
                                        1 pence    48,630 Ordinary Shares 
                                       ---------  ----------------------- 
---  ------------------------------  ------------------------------------------- 
 d)        Aggregated information 
             *    Aggregated volume     N/A - single transaction 
 
 
             *    Aggregated price 
 
 
             *    Aggregated total 
---  ------------------------------  ------------------------------------------- 
 e)   Date of the transaction         12 October 2016 (UK) 
---  ------------------------------  ------------------------------------------- 
 f)   Place of the                    Outside a trading venue 
       transaction 
---  ------------------------------  ------------------------------------------- 
 5.   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                  Ordinary shares of 1 pence each ("Ordinary 
       the financial                   Shares") 
       instrument                      GB00B3Y5L754 
       Identification 
       code 
---  ------------------------------  ------------------------------------------- 
 b)   Nature of the                   Sale of Ordinary Shares 
       transaction 
---  ------------------------------  ------------------------------------------- 
 c)   Price(s) and                     Price(s)      Volume(s) 
       volume(s)                       ------------  ----------------------- 
                                        39.07 pence   27,233 Ordinary Shares 
                                       ------------  ----------------------- 
---  ------------------------------  ------------------------------------------- 
 d)        Aggregated information 
             *    Aggregated volume     N/A - single transaction 
 
 
             *    Aggregated price 
 
 
             *    Aggregated total 
---  ------------------------------  ------------------------------------------- 
 e)   Date of the transaction         12 October 2016 (UK) 
---  ------------------------------  ------------------------------------------- 
 f)   Place of the                    London Stock Exchange, AIM 
       transaction 
---  ------------------------------  ------------------------------------------- 
 

-- ends -

Enquiries:

 
 Vernalis plc:                           [phone] 
 Ian Garland, Chief Executive 
  Officer 
 David Mackney, Chief Financial 
  Officer 
 Canaccord Genuity Limited (Nominated 
  Adviser and Joint Broker):             [phone] 
 Dr Julian Feneley 
 Rupert Winckler 
 Henry Fitzgerald-O'Connor 
 Emma Gabriel 
 Shore Capital (Joint Broker):            [phone] 
 Bidhi Bhoma 
 Toby Gibbs 
 FTI Consulting:                         [phone] 
 Ben Atwell 
 Simon Conway 
 

Notes to Editors

About Vernalis

Vernalis is a revenue generating, commercial stage pharmaceutical company with significant expertise in drug development. The Group has three approved products: Tuzistra(R) XR, targeting the US prescription cough-cold market; Moxatag(R) , a once-a-day formulation of the antibiotic, amoxicillin, indicated for the treatment of tonsillitis and/or pharyngitis secondary to Streptococcus pyogenes in adults and pediatric patients 12 years and older; and frovatriptan for the acute treatment of migraine. It has an exclusive licensing agreement to develop and commercialise multiple novel products focussed on the US prescription cough-cold market as well as eight programmes in its NCE development pipeline. Vernalis has also significant expertise in fragment and structure based drug discovery which it leverages to enter into collaborations with larger pharmaceutical companies. The Company's technologies, capabilities and products have been endorsed over the last five years by collaborations with leading pharmaceutical companies, including Asahi Kasei Pharma, Biogen Idec, Endo, GSK, Genentech, Lundbeck, Menarini, Novartis, Servier, Taisho, and Tris.

For further information about Vernalis, please visit www.vernalis.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 12, 2016 11:58 ET (15:58 GMT)