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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 0.0% 46.00 44.00 48.00 46.00 46.00 46.00 1,555 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 0.0 -24.1 -18.9 - 49

Verona Pharma plc Grant Of Restricted Stock Units And Pdmr Dealings

05/03/2020 4:01pm

UK Regulatory (RNS & others)


 
TIDMVRP 
 
   LONDON, March 05, 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, on March 
3, 2020, it granted Restricted Stock Units in the form of an aggregate 
of 133,648 Restricted American Depositary Share Units ("RADSUs") to Dr 
David Zaccardelli and Mr Mark Hahn under and in accordance with the 
terms of Verona Pharma's 2017 Incentive Award Plan (the "Incentive 
Plan"). Details of the Incentive Plan are contained in the Company's 
2019 Annual Report and 20-F SEC filing, both of which are available on 
the "Investors" section of the Company's website ( 
https://www.globenewswire.com/Tracker?data=hsRYtzpXDb9kIYVM2KxNZZrY4UWbxSDAE4T5Irbs2k6wbPOJlFvEgvjNyhA9HK_K83zZ5HZ7aGSlGE_h9Sy-pkgDvKFf_GedJvBckWkYvAH8meKYR1h84f6fMgY2OVsOkEGLSo6iL47xJk0F42jUoDjDlwwlb4XAvmxGKzcyBny5F351Yo7dh-SjtVOCZPwk 
https://www.veronapharma.com/investors/news-sec-filings). Each RADSU 
represents an unfunded, unsecured right to receive, on the applicable 
vesting date, one American Depositary Share ("ADS"), or, at the option 
of the Company, an equivalent amount in cash. 
 
   The RADSUs have been granted to Dr Zaccardelli and Mr Hahn pursuant to 
their employment agreements as payment in lieu of a portion of their 
2020 annual base salaries, as detailed in the Company's 2019 20-F SEC 
filing. Dr Zaccardelli was granted 89,099 RADSUs and Mr Hahn was granted 
44,549 RADSUs. 
 
   The number of RADSUs granted has been calculated on the basis of the 
closing price of GBP0.55 of the Company's ordinary shares ("Ordinary 
Shares") quoted on AIM on March 2, 2020 (equivalent to GBP4.40 per RADSU 
on the basis that each converts into an ADS representing 8 Ordinary 
Shares), and based on the prevailing USD:GBP exchange rate of 1.2754 on 
March 3, 2020. 
 
   The grants will vest in four equal installments at the end of each 
quarter during 2020, subject to continued employment by the recipient. 
When fully vested, Dr Zaccardelli will have an interest in the Company 
of 89,099 ADSs, representing 712,792 Ordinary Shares, or 0.68% of the 
Company's current issued share capital, and Mr Hahn will have an 
interest in the Company of 44,549 ADSs, representing 356,392 Ordinary 
Shares, or 0.34% of the Company's current issued share capital. 
 
   PDMR Dealings 
 
   The notification of dealing form in respect of the RADSU awards for each 
PDMR can be found below. 
 
   For further information, please contact: 
 
 
 
 
Verona Pharma plc                                         Tel: +44 (0)20 3283 
 David Moskowitz, VP Capital Markets Strategy & Investor  4200 
 Relations (Investor Enquiries) 
 Victoria Stewart, Director of Communications (Media 
 Enquiries) 
--------------------------------------------------------  -------------------- 
                                                          info@veronapharma.co 
                                                          m 
--------------------------------------------------------  -------------------- 
N+1 Singer                                                Tel: +44 (0)20 3283 
 (Nominated Adviser and UK Broker)                        4200 
--------------------------------------------------------  -------------------- 
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    Initial Notification 
    /Amendment 
    ----------------------  ------------------------------------------------------------ 
 
3   Details of the issuer, emission allowance market participant, 
     auction platform, auctioneer or auction monitor 
    ------------------------------------------------------------------------------------ 
 
a)  Name                    Verona Pharma plc 
    ----------------------  ------------------------------------------------------------ 
 
b)  Legal Entity            213800EVI6O6J3TIAL06 
    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 the      American Depositary Shares ("ADSs"), each representing 
    financial instrument,    8 Ordinary Shares. 
    type of instrument 
 
 
    Identification code     ISIN Code: US9250501064 
    ----------------------  ------------------------------------------------------------ 
 
b)  Nature of the           Grant of RADSUs 
    transaction 
    ----------------------  ------------------------------------------------------------ 
 
c)  Price(s) and volume(s) 
    ----------------------    ---------------------------  --------------------------- 
                              Price(s)                     Volume(s) 
                              ---------------------------  --------------------------- 
                              No consideration paid        89,099 RADSUs (representing 
                                                           712,792 Ordinary Shares) 
    ----------------------    ---------------------------  --------------------------- 
 
d)  Aggregated information  N/A (single transaction) 
     - Aggregated volume 
     - Price 
    ----------------------  ------------------------------------------------------------ 
 
 
 
 
 
e)  Date of the             3-Mar-20 
    transaction 
    ----------------------  ------------------------------------------------------------ 
 
 
f)  Place of the            Outside a trading venue 
    transaction 
    ----------------------  ------------------------------------------------------------ 
 
 
 
 
 
 
 
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    Initial Notification 
    /Amendment 
    ----------------------  ----------------------------------------------------------------- 
 
3   Details of the issuer, emission allowance market participant, 
     auction platform, auctioneer or auction monitor 
    ----------------------------------------------------------------------------------------- 
 
a)  Name                    Verona Pharma plc 
    ----------------------  ----------------------------------------------------------------- 
 
b)  Legal Entity            213800EVI6O6J3TIAL06 
    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 the      American Depositary Shares ("ADSs"), representing 
    financial instrument,    8 Ordinary Shares. 
    type of instrument 
 
 
    Identification code     ISIN Code: US9250501064 
    ----------------------  ----------------------------------------------------------------- 
 
b)  Nature of the           Grant of RADSUs, each of which represents an unfunded, 
    transaction              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 paid          44,549 RADSUs (representing 
                                                             356,392 Ordinary Shares) 
    ----------------------    -----------------------------  ------------------------------ 
 
d)  Aggregated information  N/A (single transaction) 
     - Aggregated volume 
     - Price 
    ----------------------  ----------------------------------------------------------------- 
 
 
 
 
 
e)  Date of the             3-Mar-20 
    transaction 
    ----------------------  ----------------------------------------------------------------- 
 
 
f)  Place of the            Outside a trading venue 
    transaction 
    ----------------------  ----------------------------------------------------------------- 
 
 
 
 
 
 

(END) Dow Jones Newswires

March 05, 2020 11:01 ET (16:01 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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