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Grant of Options and RSUs and PDMR Dealings

Grant of Options and RSUs and PDMR Dealings

LONDON, April 04, 2019 (GLOBE NEWSWIRE) -- Verona Pharma plc (AIM:VRP) (Nasdaq:VRNA) (“Verona Pharma”), a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for respiratory diseases, announces that, on April 1, 2019 (the “Grant Date”), it granted the following options over ordinary shares of £0.05 each (the “Ordinary Shares”) and American Depositary Shares (“ADS”) and restricted share units (“RSUs”) and Restricted American Depositary Share Units (“RADSUs”) to directors and employees of Verona Pharma under and in accordance with Verona Pharma’s 2017 Incentive Award Plan (which is set out in Verona Pharma’s 2018 annual report and 20-F):

  • 2,592,322 options to purchase Ordinary Shares;
  • 163,841 options to purchase ADSs, representing 1,310,728 Ordinary Shares;
  • 523,392 RSUs; and
  • 27,138 RADSUs, representing 217,104 Ordinary Shares.

Each RSU and RADSU represents an unfunded, unsecured right to receive, on the applicable settlement date, one Ordinary Share or the equivalent number of ADSs, as applicable, or an amount in cash or other consideration. Except where the context indicates otherwise, references hereunder to the Ordinary Shares shall be deemed to include a number of ADSs equal to an Ordinary Share.  No consideration was paid in respect of the grant of awards.

PDMR Dealings

Verona Pharma notifies the following transactions by persons discharging managerial responsibilities (“PDMRs”) in its Ordinary Shares through the grant of options over Ordinary Shares and ADSs and RSUs under and in accordance with Verona Pharma’s 2017 Incentive Award Plan.

Name Options overRSUs and RADSUs
Dr. Jan-Anders Karlsson, CEO1,026,944 Ordinary Shares266,424 RSUs
Piers Morgan, CFO359,430 Ordinary Shares93,247 RSUs
Dr. Kathleen Rickard, CMO70,000 ADSs
(representing 560,000 Ordinary Shares)
15,000 RADSUs
(representing 120,000 RSUs)
Claire Poll, Legal Counsel256,735 Ordinary Shares66,603 RSUs

The options over Ordinary Shares have an exercise price of £0.58 per Ordinary Share, being the closing mid-market price on March 29, 2019. The options over ADSs have an exercise prce of £4.64 per ADS, on the basis that each ADS represents 8 ordinary shares. The RSUs also have a value of £0.58 per RSU and the RADSUs have a value of £4.64 per RADSU.

The options, RSUs and RADSUs set forth in the table above will vest as to 50% of the Ordinary Shares or ADSs (as appropriate) in three substantially equal annual instalments following the Grant Date and as to 50% of the Ordinary Shares or ADSs (as appropriate) in four substantially equal annual instalments following the Grant Date.

The notification of dealing form in respect of option/RSU awards for each PDMR can be found below.

For further information, please contact:

Verona Pharma plcTel: +44 (0)20 3283 4200
Jan-Anders Karlsson, Chief Executive Officer[email protected]
Victoria Stewart, Director of Communications 
  
Stifel Nicolaus Europe Limited (Nominated Adviser and UK Broker)Tel: +44 (0) 20 7710 7600
Stewart Wallace / Jonathan Senior / Ben Maddison[email protected]


1Details of the person discharging managerial responsibilities / person closely associated 
    
a)NameDr. Jan-Anders Karlsson 
    
2Reason for the notification  
    
a)Position/statusChief Executive Officer 
    
b)Initial notification /AmendmentInitial Notification 
    
3Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 
    
a)NameVerona Pharma plc 
    
b)Legal Entity Identifier213800EVI6O6J3TIAL06 
    
4Details 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 instrumentOrdinary shares of 5p each 
    
    
 Identification codeISIN Code: GB00BYW2KH80 
    
b)Nature of the transactionIssue of options over Ordinary Shares 
    
c)Price(s) and volume(s)  
  Price(s)Volume(s)
    
  Exercise Price:  £0.581,026,944 Options over Ordinary Shares
d)Aggregated informationN/a (single transaction) 
    
 - Aggregated volume  
    
 - Price  
    
e)Date of the transaction1 April 2019 
    
    
f)Place of the transactionLondon Stock Exchange, AIM 
    
 
4Details 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 instrumentOrdinary shares of 5p each  
    
 Identification codeISIN Code: GB00BYW2KH80 
    
b)Nature of transactionGrant of RSUs, each of which represents an unfunded, unsecured right to receive, on the applicable settlement date, one  Ordinary Share or an amount in cash or other consideration 
    
c)Price(s) and volume(s)  
  Price(s)Volume(s)
    
  No consideration266,424
d)Aggregated informationN/a (single transaction) 
    
 - Aggregated volume  
    
 - Price  
    
e)Date of the transaction1 April 2019
 
    
    
f)Place of the transactionLondon Stock Exchange, AIM 
    
 
1Details of the person discharging managerial responsibilities / person closely associated 
    
a)NamePiers Morgan 
    
2Reason for the notification  
    
a)Position/statusChief Financial Officer 
    
b)Initial notification /AmendmentInitial Notification 
    
3Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 
    
a)NameVerona Pharma plc 
    
b)Legal Entity Identifier213800EVI6O6J3TIAL06 
    
4Details 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 instrumentOrdinary shares of 5p each 
    
    
 Identification codeISIN Code: GB00BYW2KH80 
    
b)Nature of the transactionIssue of options over Ordinary Shares 
    
c)Price(s) and volume(s)  
  Price(s)Volume(s)
    
  Exercise Price:  £0.58Options over 359,430  Ordinary Shares
    
d)Aggregated informationN/a (single transaction) 
    
 - Aggregated volume  
    
 - Price  
    
e)Date of the transaction1 April 2019 
    
    
f)Place of the transactionLondon Stock Exchange, AIM 
    
 
4Details 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 instrumentOrdinary shares of 5p each  
    
 Identification codeISIN Code: GB00BYW2KH80 
    
b)Nature of transactionGrant of RSUs, each of which represents  an unfunded, unsecured right to receive, on the applicable settlement date, one Ordinary Share or an amount in cash or other consideration 
    
c)Price(s) and volume(s)  
  Price(s)Volume(s)
    
  No consideration93,247
d)Aggregated informationN/a (single transaction) 
    
 - Aggregated volume  
    
 - Price  
    
e)Date of the transaction1 April 2019
 
    
    
f)Place of the transactionLondon Stock Exchange, AIM 
    
 
1Details of the person discharging managerial responsibilities / person closely associated 
    
a)NameDr. Kathleen Rickard 
    
2Reason for the notification  
    
a)Position/statusChief Medical Officer 
    
b)Initial notification /AmendmentInitial Notification 
    
3Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 
    
a)NameVerona Pharma plc 
    
b)Legal Entity Identifier213800EVI6O6J3TIAL06 
    
4Details 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 instrumentAmerican Depositary Shares (“ADSs”), representing ordinary shares of 5p each, on deposit with a U.S. banking institution selected by the Company and which are registered pursuant to a Form F-6. 
    
    
 Identification codeISIN Code: GB00BYW2KH80 
    
b)Nature of the transactionIssue of options over ADSs 
    
c)Price(s) and volume(s)  
  Price(s)Volume(s)
    
  Exercise Price:  £4.64Options over 70,000 ADSs
   (representing 560,000 Ordinary Shares)
d)Aggregated informationN/a (single transaction) 
    
 - Aggregated volume  
    
 - Price  
    
e)Date of the transaction1 April 2019 
    
    
f)Place of the transactionNASDAQ 
    
 
4Details 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 instrumentADSs 
    
 Identification codeISIN Code:  US9250501064 
    
b)Nature of transactionGrant of RADSUs, each of which represents an unfunded, 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 consideration15,000
   (representing 120,000 Ordinary Shares)
d)Aggregated informationN/a (single transaction) 
    
 - Aggregated volume  
    
 - Price  
    
e)Date of the transaction1 April 2019 
    
    
f)Place of the transactionNASDAQ 
    
 
1Details of the person discharging managerial responsibilities / person closely associated 
    
a)NameClaire Poll 
    
2Reason for the notification  
    
a)Position/statusLegal Counsel 
    
b)Initial notification /AmendmentInitial Notification 
    
3Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 
    
a)NameVerona Pharma plc 
    
b)Legal Entity Identifier213800EVI6O6J3TIAL06 
    
4Details 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 instrumentOrdinary shares of 5p each 
    
    
 Identification codeISIN Code: GB00BYW2KH80 
    
b)Nature of the transactionIssue of options over Ordinary Shares 
    
c)Price(s) and volume(s)  
  Price(s)Volume(s)
    
  Exercise Price:  £0.58Options over 256,735 Ordinary Shares
    
d)Aggregated informationN/a (single transaction) 
    
 - Aggregated volume  
    
 - Price  
    
e)Date of the transaction1 April 2019 
    
    
f)Place of the transactionLondon Stock Exchange, AIM 
    


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 instrumentOrdinary shares of 5p each  
    
 Identification codeISIN Code: GB00BYW2KH80 
    
b)Nature of transactionGrant of RSUs, each of which represents  an unfunded, unsecured right to receive, on the applicable settlement date, one Ordinary Share or an amount in cash or other consideration 
    
c)Price(s) and volume(s)  
  Price(s)Volume(s)
    
  No consideration66,603
d)Aggregated informationN/a (single transaction) 
    
 - Aggregated volume  
    
 - Price  
    
e)Date of the transaction1 April 2019 
    
    
f)Place of the transactionLondon Stock Exchange, AIM 
    

 

 

Quick facts: Verona Pharma

Price: 48

Market: AIM
Market Cap: £50.56 m
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