Verona Pharma plc Verona Pharma Plc : Update On Aim Delisting
October 28 2020 - 7:01AM
UK Regulatory
TIDMVRP
LONDON and RALEIGH, N.C., Oct. 28, 2020 (GLOBE NEWSWIRE) -- Verona
Pharma plc (AIM: VRP) (Nasdaq: VRNA) ("Verona Pharma" or the "Company"),
provides a further update with regards to its intended Delisting and
Cancellation of its Ordinary Shares from Trading on AIM, as announced on
September 21, 2020.
As previously announced, the last day of trading of the Company's
Ordinary Shares on AIM will be October 29, 2020 and the proposed AIM
Delisting will be effective from 7.00 am London time on October 30,
2020. Verona Pharma will retain the listing of its ADSs on the Nasdaq
Global Market under ticker symbol VRNA. Following the AIM Delisting,
shares will only be tradeable on Nasdaq.
Further information about the process to convert Ordinary Shares into
ADSs was provided in the announcement published by the Company on
September 21, 2020 and is also available on the Company's website at
https://www.veronapharma.com/investors/aim-delisting. This conversion
can be made at any time, including before the AIM Delisting. However,
holders of Ordinary Shares are reminded that if the conversion is made
prior to the AIM Delisting on October 30, ADS conversion fees of up to
US$0.05 per ADS ordinarily charged by the Company's depositary, Citibank,
will be waived, and UK stamp duty at a rate of 1.5 per cent of the
market value of the shares will not be incurred.
Following the AIM Delisting, N+1 Singer will cease to act as nominated
adviser and broker to the Company.
Capitalised terms used but not defined in this announcement are the same
as those included in the announcement made on September 21, 2020.
For further information, please contact:
Verona Pharma plc Tel: +44 (0)20 3283
4200
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David Zaccardelli, Chief Executive Officer info@veronapharma.co
m
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Victoria Stewart, Director of Communications
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N+1 Singer Tel: +44 (0)20 7496
(Nominated Adviser and UK Broker) 3000
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Aubrey Powell / George Tzimas / Iqra Amin (Corporate
Finance)
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Tom Salvesen (Corporate Broking)
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About Verona Pharma
Verona Pharma is a clinical-stage biopharmaceutical company focused on
developing and commercializing innovative therapies for the treatment of
respiratory diseases with significant unmet medical needs. If
successfully developed and approved, Verona Pharma's product candidate,
ensifentrine, has the potential to be the first therapy for the
treatment of respiratory diseases that combines bronchodilator and
anti-inflammatory activities in one compound. The Company is evaluating
nebulized ensifentrine in its Phase 3 clinical program ENHANCE
("Ensifentrine as a Novel inHAled Nebulized COPD thErapy") for COPD
maintenance treatment. The Company raised gross proceeds of $200 million
through a private placement in July 2020 and expects the funds to
support its operations and Phase 3 clinical program into 2023. Two
additional formulations of ensifentrine are currently in Phase 2
development for the treatment of COPD: dry powder inhaler ("DPI") and
pressurized metered-dose inhaler ("pMDI"). Ensifentrine is in a pilot
clinical study in patients hospitalized with COVID-19 and has potential
applications in cystic fibrosis, asthma and other respiratory diseases.
For more information, please visit www.veronapharma.com.
(END) Dow Jones Newswires
October 28, 2020 07:01 ET (11:01 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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