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 (“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.