Verona Pharma PLC Exercise of options (0739L)

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RNS Number : 0739L

Verona Pharma PLC

28 September 2016

Verona Pharma plc

("Verona Pharma" or the "Company")

Exercise of Options

The Company announces that it has issued 166,667 new ordinary shares in the capital of the Company (the "New Shares") following an exercise of share options by an employee. Application has been made to the London Stock Exchange for the New Shares to be admitted to trading on AIM, with dealings expected to commence on 4 October 2016 ("Admission").

Following Admission, the Company will have a total of 2,565,886,493 Ordinary Shares in issue each carrying one voting right. The Company does not hold any Ordinary Shares in Treasury. This figure of 2,565,886,493 Ordinary Shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

For further information please contact:

 
  Verona Pharma plc                                         Tel: [phone] 
  Jan-Anders Karlsson, Chief Executive Officer 
 
  N+1 Singer (Nominated Adviser and Broker)                 Tel: [phone] 
  Aubrey Powell / Jen Boorer 
 
  FTI Consulting                                            Tel: [phone] 
  Simon Conway/Stephanie Cuthbert/Natalie Garland-Collins 
 

About Verona Pharma plc

Verona Pharma plc is a UK-based clinical stage biopharmaceutical company focused on the development of innovative prescription medicines to treat respiratory diseases with significant unmet medical needs, such as chronic obstructive pulmonary disease (COPD), asthma and cystic fibrosis.

Verona Pharma's lead drug, RPL554, is a first-in-class drug in Phase 2 trials as a nebulised treatment for acute exacerbations of COPD in the hospital setting. The drug is a dual phosphodiesterase (PDE) 3/4 inhibitor and therefore has both bronchodilator and anti-inflammatory effects, which are essential to the improvement of patients with COPD and asthma.

Verona Pharma is also building a broader portfolio of RPL554-containing products to maximise its benefit to patients and its value. This includes the very significant markets for COPD and asthma maintenance therapy. The Company is also exploring the potential of the drug in different diseases, such as cystic fibrosis, where it is in pre-clinical testing and has received a Venture and Innovation Award from the Cystic Fibrosis Trust.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 28, 2016 05:49 ET (09:49 GMT)