Verona Pharma plc: Issue of Equity, PDMR Dealings & Total Voting Rights

LONDON and RALEIGH, N.C., Aug. 04, 2020 (GLOBE NEWSWIRE) -- Verona Pharma plc (AIM: VRP) (Nasdaq: VRNA) (“Verona Pharma” or the “Company”), a clinical-stage biopharmaceutical company focused on respiratory diseases, notifies the following transactions by persons discharging managerial responsibilities (“PDMRs”).

Issue of Equity

An aggregate of 267,296 ordinary shares of 5 pence each (“Ordinary Shares”), represented by 33,412 American Depositary Shares (“ADSs”) following the vesting on July 31, 2020 of previously granted Restricted American Depositary Share Units (“RADSUs”) have been issued to Dr David Zaccardelli, CEO, and Mr Mark Hahn, CFO, of the Company (the “New ADSs”). One ADS represents eight ordinary shares of the Company (“Ordinary Shares”).

As 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 ADSs, of which 22,275 (representing 178,200 Ordinary Shares) are issued to Dr Zaccardelli and 11,137 (representing 89,096 Ordinary Shares) are issued to Mr Hahn, represent the second of four installments of these RADSUs to vest with respect to their annual base salaries.

Disposal of ADSs

An aggregate of 70,120 Ordinary Shares (represented by 8,765 ADSs) were sold on July 31, 2020 under 10b5-1 plans established on May 11, 2020 by Dr Zaccardelli and Mr Hahn for the purpose of selling ADSs to cover tax withholding requirements on vested RADSUs.

Dr Zaccardelli sold 5,424 ADSs (representing 43,392 Ordinary Shares) at an average price per ADS of $6.7211. Mr Hahn sold 3,341 ADSs (representing 26,728 Ordinary Shares) at an average price per ADS of $6.7229.

Following the above transactions, Dr Zaccardelli will have an interest in the Company of 94,680 ADSs, representing 757,440 Ordinary Shares, or 0.18% of the Company’s total voting rights, and Mr Hahn will have an interest in the Company of 41,156 ADSs, representing 329,248 Ordinary Shares, or 0.08% of the Company’s total voting rights.

The notification of dealing form in respect of the transactions for each PDMR can be found below.

Total Voting Rights

Application has been made to the London Stock Exchange for the 267,296 Ordinary Shares represented by the New ADRs to be admitted to trading on AIM, with dealings expected to commence at 0800 BST, August 10, 2020 (“Admission”).

The Company’s issued share capital is 462,634,486. Following Admission, the Company will have a total of 414,545,590 Ordinary Shares in issue each carrying one voting right, and 48,088,896 non-voting Ordinary Shares not admitted to trading. The Company does not hold any Ordinary Shares in treasury.

The figure of 414,545,590 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 Financial Conduct Authority's Disclosure and Transparency Rules.

For further information, please contact:

Verona Pharma plcTel: +44 (0)20 3283 4200
David Zaccardelli, Chief Executive Officerinfo@veronapharma.com
Victoria Stewart, Director of Communications 
  
N+1 Singer (Nominated Adviser and UK Broker)Tel: +44 (0)20 7496 3000
Aubrey Powell / George Tzimas / Iqra Amin (Corporate Finance) 
Tom Salvesen (Corporate Broking) 
  


    
1Details of the person discharging managerial responsibilities / person closely associated  
    
a)NameDr David Zaccardelli 
    
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 instrumentAmerican Depositary Shares (“ADSs”), each representing 8 Ordinary Shares. 
    
 Identification codeISIN Code: US9250501064 
    
b)Nature of the transactionDavid Zaccardelli was issued 178,200 Ordinary Shares following the vesting of 22,275 Restricted American Depositary Units (“RADSUs”) as payment in lieu of base salary, each representing 8 Ordinary Shares 
    
c)Price(s) and volume(s)  
  Price(s)Volume(s) (ADSs)
    
  No consideration paid22,275 RADSUs (representing 178,200 Ordinary Shares)
d)Aggregated informationN/A (single transaction) 
 - Aggregated volume  
 - Price  
    
e)Date of the transaction31 July 2020 
    
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 instrumentAmerican Depositary Shares (“ADSs”), each representing 8 Ordinary Shares. 
    
 Identification codeISIN Code: US9250501064 
    
b)Nature of the transactionDisposal of ADSs pursuant to a 10b5-1 plan 
    
c)Price(s) and volume(s)  
  Price(s)Volume(s) (ADSs)
    
  $6.56285
  $6.5715
  $6.59200
  $6.60200
  $6.61300
  $6.62200
  $6.63200
  $6.65300
  $6.66100
  $6.67400
  $6.68100
  $6.69100
  $6.70100
  $6.72696
  $6.73103
  $6.74200
  $6.75323
  $6.78576
  $6.79226
  $6.80100
  $6.81100
  $6.88100
  $6.91100
  $6.96100
  $7.00130
  $7.03100
  $7.0470
    
d)Aggregated information  
    
 - Aggregated volumeAggregated volume: 5,424 ADSs 
 - PriceAverage price: $6.7211 
    
e)Date of the transaction31 July 2020 
    
f)Place of the transactionNASDAQ 
    
    
    
    
1Details of the person discharging managerial responsibilities / person closely associated  
    
a)NameMark Hahn 
    
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 instrumentAmerican Depositary Shares (“ADSs”), each representing 8 Ordinary Shares. 
    
 Identification codeISIN Code: US9250501064 
    
b)Nature of the transactionMark Hahn was issued 89,096 Ordinary Shares following the vesting of 11,137 Restricted American Depositary Units (“RADSUs”) as payment in lieu of base salary, each representing 8 Ordinary Shares 
    
c)Price(s) and volume(s)  
  Price(s)Volume(s) (ADSs)
    
  No consideration paid11,137 RADSUs (representing 89,096 Ordinary Shares)
d)Aggregated informationN/A (single transaction) 
 - Aggregated volume  
 - Price  
    
e)Date of the transaction31 July 2020 
    
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 instrumentAmerican Depositary Shares (“ADSs”), representing 8 Ordinary Shares. 
    
    
 Identification codeISIN Code: US9250501064 
    
b)Nature of the transactionSale of ADSs pursuant to a 10b5-1 plan 
    
c)Price(s) and volume(s)  
  Price(s)Volume(s) (ADSs)
    
  $6.56192
  $6.578
  $6.5855
  $6.59120
  $6.61100
  $6.62100
  $6.63200
  $6.65200
  $6.66100
  $6.67300
  $6.68100
  $6.70284
  $6.7112
  $6.72104
  $6.73201
  $6.74100
  $6.75200
  $6.76100
  $6.78265
  $6.81100
  $6.82100
  $6.85100
  $7.00200
  $7.03100
d)Aggregated information  
    
 - Aggregated volumeAggregated volume: 3,341 ADSs 
 - PriceAverage price: $6.7229 
    
e)Date of the transaction31 July 2020 
    
f)Place of the transactionNASDAQ