Verona Pharma PLC Grant of Share Options

 
TIDMVRP 
 
Verona Pharma plc 
 
                      ("Verona Pharma" or the "Company") 
 
                            Grant of Share Options 
 
4 August 2016, Cardiff - Verona Pharma plc (AIM: VRP) announces that the Board 
has granted options to subscribe for 42,500,000 new ordinary shares (?& 
65533;Options") in the Company to one of its Directors and certain of its 
employees in accordance with the terms of the Company's share option plans. 
 The options have an exercise price of 3.60 pence, representing 120% of the 
closing price of the Company's shares on 2 August 2016. 
 
Of the Options granted, 25,000,000 options have been granted to Dr. Jan-Anders 
Karlsson, half of which vest on 3 August 2018 and the other half on 3 August 
2019. 
 
Of the Options granted to employees, one third vest on 3 August 2017, one third 
vest on 3 August 2018 and the remaining third on 3 August 2019. 
 
Dr. Karlsson's total beneficial interest in the Company remains 2,870,000 
ordinary shares, representing 0.11% of the Company's issued share capital. 
Following this grant, Dr. Karlsson holds options over 63,000,000 ordinary 
shares, representing 2% of the Company's issued share capital, with a range of 
exercise prices between 2.5 and 15 pence. 
 
                                    -Ends- 
 
For further information please contact: 
 
Verona Pharma plc                        Tel: +44 (0) 20 3283 4200 
 
Jan-Anders Karlsson, Chief Executive 
Officer 
 
N+1 Singer                               Tel: +44 (0)20 7496 3000 
 
Aubrey Powell / Jen Boorer 
 
FTI Consulting                           Tel: +44 (0)20 3727 1000 
 
Simon Conway / Stephanie Cuthbert / 
Natalie Garland-Collins 
 
Notes to Editors 
 
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 currently in phase 
II trials as a nebulised maintenance treatment for COPD patients with moderate 
to severe disease and possibly as a treatment of 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 recently received 
a Venture and Innovation Award from the Cystic Fibrosis Trust. 
 
 
 
END

(END) Dow Jones Newswires

August 04, 2016 10:26 ET (14:26 GMT)

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