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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Verona Pharma Plc | LSE:VRP | London | Ordinary Share | GB00BYW2KH80 | ORD 5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 55.00 | 45.00 | 65.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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TIDMVRP
LONDON, May 12, 2020 (GLOBE NEWSWIRE) -- Verona Pharma plc (AIM:VRP)
(Nasdaq:VRNA) ("Verona Pharma" or the "Company"), a clinical-stage
biopharmaceutical company focused on developing and commercializing
innovative therapies for respiratory diseases, announces that it has on
May 7, 2020 granted to Dr David Zaccardelli, CEO, and Mr Mark Hahn, CFO
of the Company, an aggregate of 921,608 Restricted American Depositary
Share Units ("RADSUs"), representing 7,372,864 ordinary shares of 5
pence each (the "Ordinary Shares"), and today issued to them an
aggregate of 267,288 ordinary shares of 5 pence each (the "New Ordinary
Shares") following the vesting of previously granted RADSUs.
Application will be made to the London Stock Exchange for the New
Ordinary Shares to be admitted to trading on AIM, with dealings expected
to commence on May 18, 2020 ("Admission").
Grant of RADSUs
The Company has made a grant of an aggregate of 921,608 RADSUs over
American Depositary Shares ("ADSs"), representing 7,372,864 Ordinary
Shares, to Dr Zaccardelli and Mr Hahn under and in accordance with the
terms of Verona Pharma's 2017 Incentive Award Plan (the "Incentive
Plan"), and pursuant to their employment agreements, as detailed in the
Company's 2019 20-F SEC filing, which is available on the "Investors"
section of the Company's website (
https://www.globenewswire.com/Tracker?data=otc4QL85x1ZW2yHZLK1kwZiKL44XB72ZtD9QIcOcnlL6_2-cDztmK15cvduuPK5enG5v5yyVD1fwmT-2yR5-ymQo0xLWGkFACeT6SlrhIT8SjHtiPuz2h6OyPRoAbhdQ37OPuCWtOXHTfdTYibk4AeKLcjUwtKIZ7indq_NnTVxwdDZ0lFC9fxivYWenZD-u
https://www.veronapharma.com/investors/news-sec-filings).
Each RADSU represents an unfunded, unsecured right to receive, on the
applicable vesting date, one ADS, or, at the option of the Company, an
equivalent amount in cash.
Dr Zaccardelli was granted 526,633 RADSUs, representing 4,213,064 ADSs,
or 4% of the Company's 105,326,637 Ordinary Shares in issue at the date
of the 2020 Annual General Meeting (the "AGM").
Mr Hahn was granted 394,975 RADSUs, representing 3,159,800 ADSs, or 3%
of the Company's Ordinary Shares in issue at the date of the AGM.
The RADSUs will vest as to 25% on February 1, 2021, being the first
anniversary of commencement of Dr Zaccardelli's and Mr Hahn's employment,
and the balance over the remaining three years in twelve equal
installments upon completion of each successive three month period of
continued employment by the relevant executive.
Issue of the New Ordinary Shares
The aggregate issue of the 267,288 New Ordinary Shares follows the
vesting of previously granted RADSUs to Dr Zaccardelli and Mr Hahn.
As
https://www.globenewswire.com/Tracker?data=7K8NGxkifojxpFCRsD9OFvqnjNfgp6oDZE1pvmAj6tXEIXMkGALC5YXNX-kDUeQyli8Hg0Kn4e0tGrpuvZOou9-m-ZBYyPCASQKtrmxyqnGt6ilLrL-vtm8Zn4u51c9IqtV4cBAY6Hhd_oW9KTr5Nc86vt09uQY46AkknPbLc-g=
announced on March 5, 2020, RADSUs were granted to Dr Zaccardelli and Mr
Hahn pursuant to their employment agreements as payment in lieu of a
portion of their annual base salaries. The New Ordinary Shares, of which
178,192 are issued to Dr Zaccardelli and 89,096 are issued to Mr Hahn,
represent the first of four installments of these RADSUs to vest with
respect to their annual base salaries.
Following the issue of New Ordinary Shares, Dr Zaccardelli will have an
interest in the Company of 178,192 Ordinary Shares, representing 0.17%
of the Company's issued share capital, and Mr Hahn will have an interest
in the Company of 89,096 Ordinary Shares, representing 0.08% of the
Company's issued share capital.
Total voting rights
Following Admission of the New Ordinary Shares, the Company will have a
total of 106,481,006 Ordinary Shares in issue each carrying one voting
right. The Company does not hold any Ordinary Shares in Treasury. This
figure of 106,481,006 Ordinary Shares may therefore 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.
PDMR Dealings
The notification of dealing form in respect of the RADSU award and issue
of New Ordinary Shares for each PDMR can be found below.
For further information, please contact:
Verona Pharma plc Tel: +44 (0)20 3283 4200
Victoria Stewart, Director of Communications
---------------------------------------------------- ------------------------
info@veronapharma.com
---------------------------------------------------- ------------------------
N+1 Singer Tel: +44 (0)20 3283 4200
(Nominated Adviser and UK Broker)
---------------------------------------------------- ------------------------
Aubrey Powell / George Tzimas / Iqra Amin (Corporate
Finance)
---------------------------------------------------- ------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
------------------------------------------------------------------------------------------------------------------------------------
a) Name Dr David Zaccardelli
----------------------------------------------------------- -----------------------------------------------------------------------
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 American Depositary Shares ("ADSs"), each representing
8 Ordinary Shares
Identification code ISIN Code: US9250501064
----------------------------------------------------------- -----------------------------------------------------------------------
b) Nature of the transaction Grant of RADSUs
----------------------------------------------------------- -----------------------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
-------------- -------------------------------------------------------
No 526,633 RADSUs (representing 4,213,064 Ordinary Shares)
consideration
paid
----------------------------------------------------------- -------------- -------------------------------------------------------
d) Aggregated information N/A (single transaction)
- Aggregated volume
- Price
----------------------------------------------------------- -----------------------------------------------------------------------
e) Date of the transaction 7 May 2020
----------------------------------------------------------- -----------------------------------------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------------------------------------- -----------------------------------------------------------------------
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"), each representing
8 Ordinary Shares.
Identification code ISIN Code: US9250501064
----------------------------------------------------------- -----------------------------------------------------------------------
b) Nature of the transaction David Zaccardelli was issued 178,192 Ordinary Shares
following the vesting of 22,274 Restricted American
Depositary Share Units as payment in lieu of base
salary, each representing 8 Ordinary Shares.
----------------------------------------------------------- -----------------------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
-------------- -------------------------------------------------------
No 22,274 RADSUs (representing 178,192 Ordinary Shares)
consideration
paid
----------------------------------------------------------- -------------- -------------------------------------------------------
d) Aggregated information N/A (single transaction)
- Aggregated volume
- Price
----------------------------------------------------------- -----------------------------------------------------------------------
e) Date of the transaction 12 May 2020
----------------------------------------------------------- -----------------------------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
----------------------------------------------------------- -----------------------------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
-----------------------------------------------------------------------------------------------------------------------------------
a) Name Mark Hahn
----------------------------------------------------------- ----------------------------------------------------------------------
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 American Depositary Shares ("ADSs"), each representing
8 Ordinary Shares
Identification code ISIN Code: US9250501064
b) Nature of the transaction Grant of RADSUs
c) Price(s) and volume(s) Price(s) Volume(s)
No 394,975 RADSUs (representing 3,159,800 Ordinary Shares)
consideration
paid
d) Aggregated information N/A (single transaction)
- Aggregated volume
- Price
e) Date of the transaction 7 May 2020
f) Place of the transaction Outside a trading venue
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"), each representing
8 Ordinary Shares
Identification code ISIN Code: US9250501064
----------------------------------------------------------- ----------------------------------------------------------------------
b) Nature of the transaction Mark Hahn was issued 89,096 Ordinary Shares following
the vesting of 11,137 Restricted American Depositary
Share Units as payment in lieu of base salary, each
representing 8 Ordinary Shares.
----------------------------------------------------------- ----------------------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
------------- -------------------------------------------------------
No 89,096 Ordinary Shares
consideration
paid
----------------------------------------------------------- ------------- -------------------------------------------------------
d) Aggregated information N/A (single transaction)
- Aggregated volume
- Price
----------------------------------------------------------- ----------------------------------------------------------------------
e) Date of the transaction 12 May 2020
----------------------------------------------------------- ----------------------------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
----------------------------------------------------------- ----------------------------------------------------------------------
(END) Dow Jones Newswires
May 12, 2020 08:11 ET (12:11 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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