VRP Verona Pharma Plc

 
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 
------------------------------------------------------  ---------------------- 
  David Zaccardelli, Chief Executive Officer              info@veronapharma.co 
                                                          m 
------------------------------------------------------  ---------------------- 
  Victoria Stewart, Director of Communications 
------------------------------------------------------  ---------------------- 
 
  N+1 Singer                                              Tel: +44 (0)20 7496 
   (Nominated Adviser and UK Broker)                      3000 
------------------------------------------------------  ---------------------- 
  Aubrey Powell / George Tzimas / Iqra Amin (Corporate 
   Finance) 
------------------------------------------------------  ---------------------- 
  Tom Salvesen (Corporate Broking) 
------------------------------------------------------  ---------------------- 
 
 
   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)

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