Verona Pharma plc Verona Pharma Plc: Issue Of Equity, Pdmr Dealings & Total Voting Rights
August 04 2020 - 1:13PM
UK Regulatory
TIDMVRP
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
https://www.globenewswire.com/Tracker?data=RmbTrNYYfO177nSH_8rUs0fP8dtT4i6FulmwU-vNpzAnkELvirfM_tmTANxQh4ZDUnl6cL-P1uzvC78WVLaLg0KEZDNIKDWXYX4SilH9s9RmgSUEuTDDeIaJncatG9x-eZB85RYvtcwBI2rcUkqNOQ==
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 plc Tel: +44 (0)20 3283 4200
David Zaccardelli, Chief Executive Officer info@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)
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Dr David Zaccardelli
Reason for the
2 notification
a) Position/status Chief Executive Officer
Initial notification
b) /Amendment Initial Notification
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
a) Name Verona Pharma plc
b) Legal Entity Identifier 213800EVI6O6J3TIAL06
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
4 where transactions have been conducted
Description of the
financial instrument, type American Depositary Shares ("ADSs"), each representing
a) of instrument 8 Ordinary Shares.
Identification code ISIN Code: US9250501064
David Zaccardelli was issued 178,200 Ordinary Shares
following the vesting of 22,275 Restricted American
Depositary Units ("RADSUs") as payment in lieu of
b) Nature of the transaction base salary, each representing 8 Ordinary Shares
c) Price(s) and volume(s)
------------------------ ------------------------------
Price(s) Volume(s) (ADSs)
22,275 RADSUs (representing
No consideration paid 178,200 Ordinary Shares)
--- -------------------------- ------------------------ ------------------------------
d) Aggregated information N/A (single transaction)
- Aggregated volume
- Price
e) Date of the transaction 31 July 2020
London Stock Exchange,
f) Place of the transaction 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
4 where transactions have been conducted
Description of the
financial instrument, type American Depositary Shares ("ADSs"), each representing
a) of instrument 8 Ordinary Shares.
Identification code ISIN Code: US9250501064
b) Nature of the transaction Disposal of ADSs pursuant to a 10b5-1 plan
c) Price(s) and volume(s)
------------------------ ------------------------------
Price(s) Volume(s) (ADSs)
$6.56 285
------------------------ ------------------------------
$6.57 15
------------------------ ------------------------------
$6.59 200
------------------------ ------------------------------
$6.60 200
------------------------ ------------------------------
$6.61 300
------------------------ ------------------------------
$6.62 200
------------------------ ------------------------------
$6.63 200
------------------------ ------------------------------
$6.65 300
------------------------ ------------------------------
$6.66 100
------------------------ ------------------------------
$6.67 400
------------------------ ------------------------------
$6.68 100
------------------------ ------------------------------
$6.69 100
------------------------ ------------------------------
$6.70 100
------------------------ ------------------------------
$6.72 696
------------------------ ------------------------------
$6.73 103
------------------------ ------------------------------
$6.74 200
------------------------ ------------------------------
$6.75 323
------------------------ ------------------------------
$6.78 576
------------------------ ------------------------------
$6.79 226
------------------------ ------------------------------
$6.80 100
------------------------ ------------------------------
$6.81 100
------------------------ ------------------------------
$6.88 100
------------------------ ------------------------------
$6.91 100
------------------------ ------------------------------
$6.96 100
------------------------ ------------------------------
$7.00 130
------------------------ ------------------------------
$7.03 100
------------------------ ------------------------------
$7.04 70
d) Aggregated information
- Aggregated volume Aggregated volume: 5,424 ADSs
- Price Average price: $6.7211
e) Date of the transaction 31 July 2020
f) Place of the transaction NASDAQ
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Mark Hahn
Reason for the
2 notification
a) Position/status Chief Financial Officer
Initial notification
b) /Amendment Initial Notification
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
a) Name Verona Pharma plc
b) Legal Entity Identifier 213800EVI6O6J3TIAL06
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
4 where transactions have been conducted
Description of the
financial instrument, type American Depositary Shares ("ADSs"), each representing
a) of instrument 8 Ordinary Shares.
Identification code ISIN Code: US9250501064
Mark 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,
b) Nature of the transaction each representing 8 Ordinary Shares
c) Price(s) and volume(s)
------------------------ ------------------------------
Price(s) Volume(s) (ADSs)
11,137 RADSUs (representing
No consideration paid 89,096 Ordinary Shares)
--- -------------------------- ------------------------ ------------------------------
d) Aggregated information N/A (single transaction)
- Aggregated volume
- Price
e) Date of the transaction 31 July 2020
London Stock Exchange,
f) Place of the transaction 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
4 where transactions have been conducted
Description of the
financial instrument, type American Depositary Shares ("ADSs"), representing
a) of instrument 8 Ordinary Shares.
Identification code ISIN Code: US9250501064
Sale of ADSs pursuant to
b) Nature of the transaction a 10b5-1 plan
c) Price(s) and volume(s)
------------------------ ------------------------------
Price(s) Volume(s) (ADSs)
$6.56 192
------------------------ ------------------------------
$6.57 8
------------------------ ------------------------------
$6.58 55
------------------------ ------------------------------
$6.59 120
------------------------ ------------------------------
$6.61 100
------------------------ ------------------------------
$6.62 100
------------------------ ------------------------------
$6.63 200
------------------------ ------------------------------
$6.65 200
------------------------ ------------------------------
$6.66 100
------------------------ ------------------------------
$6.67 300
------------------------ ------------------------------
$6.68 100
------------------------ ------------------------------
$6.70 284
------------------------ ------------------------------
$6.71 12
------------------------ ------------------------------
$6.72 104
------------------------ ------------------------------
$6.73 201
------------------------ ------------------------------
$6.74 100
------------------------ ------------------------------
$6.75 200
------------------------ ------------------------------
$6.76 100
------------------------ ------------------------------
$6.78 265
------------------------ ------------------------------
$6.81 100
------------------------ ------------------------------
$6.82 100
------------------------ ------------------------------
$6.85 100
------------------------ ------------------------------
$7.00 200
------------------------ ------------------------------
$7.03 100
------------------------------ ------------------------ ------------------------------
d) Aggregated information
- Aggregated volume Aggregated volume: 3,341
ADSs
- Price Average price: $6.7229
e) Date of the transaction 31 July 2020
f) Place of the transaction NASDAQ
(END) Dow Jones Newswires
August 04, 2020 13:13 ET (17:13 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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