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As posted previously, a one-for-fifty consolidation was a prerequisite to raise the price over $2: Nasdaq Capital Markets minimum price. Once consolidated, the Nasdaq application should follow. It is worth remembering the prior placing to bring this listing forward, and please note the comment re the subscription: "Verona Pharma plc (AIM: VRP), the drug development company focused on first-in-class medicines to treat respiratory diseases, announces that it has successfully secured funding commitments to raise gross proceeds of c. £44.7 million (US$63.3 million), through a conditional placing (the "Placing") with new and existing investors, including a number of specialist US, UK and European healthcare funds. The Placing was significantly oversubscribed" "Significantly oversubscribed" . .

It would appear that the minimum share price for a listing is $2, which in turn necessitates consolidation. Having stated on November 23 the intended IPO registration, a precursor would be the minimum share price, which currently indicates a one-for fifty consolidation. Unlike SLN, RPL554 is considerably de-risked, and therefore not an accurate comparison. Once the ADRs are listed, they will be at a multiple to the AIM shares eg one ADR = 20 AIM shares. The shares issued to cover the ADRs will be added to the then AIM total. The respective prices are intrinsically linked so any movement in price on AIM should be reflected in the ADR, and vice versa. It's now a waiting game until the requisite authorisations and prospectus is filed.... any time during first half of 2017. .

That's not quite the way this worked: A former employee paid 2.000.000 x option price in return for 2,000,000 shares. .

The "F" suffix indicates that it is a Foreign Issue and as such not yet trading/listed on NASDAQ. This enables US investors to trade on the "grey market" in anticipation of a listing, at which point the "F" will be dropped and the ADS will trade under the symbol VNAP. .

Until London closes - MTFB slowly increasing in price. GL .

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/VEC/13077144.html .

22% of £47.00m (MTFB's current Market Cap - US trading is currently moving this higher. .

http://www.lse.co.uk/sharecast-news-article.asp?ArticleCode=25361041&ArticleHeadline=vectura_says_novartis_signs_us_licensing_agreement_for_copd_treatments .

"Following the conversion, the Amphion Parties will hold no further CPNs and their holding will total 43,240,645 ordinary shares being 22 per cent. of the Company" http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/MTFB/13075414.html .

How fortunate that VRP hold the requisite patents. As she is now working on the GSK drug pipelines, might her experience here enable a comparative anaylsis whereby she might recommend that GSK licence RPL554? .

Hi rhodi I am hoping that the next placing will be at a premium to the price at the time, as was done by Milestone Group, Cloud Tag, and San Leon, to name but three by way of examples. The last placing was at 2.873p, with Warrants exercisable at 3.4476 pence, being 120 per cent. of the Issue Price - these Warrants are all "in the money", and when exercised is cash directly to the Company. It is humbly suggested that your friends contact the Company directly as any undertaking to invest several millions in the next placing will be given serious consideration (At the current price, a placing at 4p with Warrants at 5p - 1-for-3? has to be hoped for). .

Bearing in mind that Tranche 1 was "significantly oversubscribed", probably the same way: "a conditional placing (the "Placing") with new and existing investors, including a number of specialist US, UK and European healthcare funds. The Placing was significantly oversubscribed" Will have to keep an eye on Edgar for filing details. .

Today is the last day to sell in Germany, which is why the price might be falling. .

Also, "The last day of trading shares in the Company on Xetra will be 24 November 2016" .

Uncertainty about placing price and number of shares to be issued, perhaps? .

One might like to include the following in "Favourites" http://www.nasdaq.com/symbol/vnapf/etf-detail .

They did OK raising £44m, additionally, "Vivo Capital, a current Shareholder of the Company, is acting as a cornerstone investor in relation to the US Placing and is expected to act as a cornerstone investor in Tranche 2" Scheduled for within 180 days from July 29, 2016, unless extended. .

Or, not currently listed on NASDAQ. An IPO is scheduled for future listing. GL

Apart from a £30,000 buy - NASDAQ news coming, perhaps? DYOR .

jeddicat The "F" suffix indicates that it is a Foreign Issue and as such not yet trading/listed on NASDAQ. This enables US investors to trade on the "grey market" in anticipation of a listing, at which point the "F" will be dropped and the ADS will trade under the symbol VNAP. Hope this helps Best wishes .