20 Aug 2009 16:48
20 August 2009
Admission of subscription shares to GlaxoSmithKline in connection with Collaboration, Option and License Agreement over a novel Vernalis oncology programme
Vernalis plc (LSE: VER) ("Vernalis" or the "Company") today announces that applications have been made to the UK Listing Authority and to the London Stock Exchange for admission to the Official List and to trading on the London Stock Exchange's main market for listed securities (together, "Admission") of 2,040,542 ordinary shares of 20 pence each in the capital of the Company (the "Ordinary Shares").
GlaxoSmithKline are subscribing for the 2,040,542 new Ordinary Shares pursuant to the collaboration, option and license agreement between GlaxoSmithKline and the Company, details of which were announced to the market on 6 August 2009.
It is expected that Admission will occur at 8.00am on 21 August 2009.
The new Ordinary Shares will be issued fully paid and will rank pari passu with the existing Ordinary Shares of Vernalis in all respects.
Subject to Admission becoming effective, and in conformity with the Financial Service Authority's Disclosure and Transparency Rules, Vernalis would like to notify the market of the following:
Voting Rights and Capital
In accordance with DTR 5.6, as a result of the issue of the 2,040,542 new Ordinary Shares to GSK, the issued ordinary share capital of Vernalis will be 60,157,787 Ordinary Shares. Vernalis does not hold any shares in treasury.
The above total voting rights figure of 60,157,787 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 Company under the Financial Service Authority's Disclosure and Transparency Rules.
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Enquiries:
Vernalis Contacts
Ian Garland, Chief Executive Officer +44 (0) 118 989 9360
David Mackney, Chief Financial Officer
Brunswick Group
Jon Coles +44 (0) 20 7404 5959
Justine McIlroy
Notes to Editors
About Vernalis
Vernalis is a development stage pharmaceutical company with significant expertise both in de novo fragment and structure-based drug discovery and pre-clinical and clinical development. The Group has seven product candidates in clinical development (three of which are partnered), two programmes in pre-clinical, as well as other competitive research programmes. Our technologies, capabilities and products are endorsed by collaborations with leading, global pharmaceutical companies including GSK, Biogen Idec, Novartis, Servier, Chiesi, Menarini, and Endo.
| Product | Indication | Pre-Clinical | Phase I | Phase II | Phase III | Marketing Rights |
| Priority Programmes | ||||||
| V3381 | Neuropathic Pain | X | Worldwide | |||
| V2006 | Parkinson's Disease | X | Biogen Idec | |||
| V85546 | Inflammatory Disease | X | Worldwide | |||
| NVP-AUY922 | Cancer | X | Novartis | |||
| NVP-HSP990 | Cancer | X | Novartis | |||
| V158866 | Pain | X | Worldwide | |||
| V158411 (Chk1) | Cancer | X | Worldwide | |||
| Progress through partnering | ||||||
| V1512 | Parkinson's Disease | X | Worldwide (excl. Italy) | |||
| V10153 | Ischaemic Stroke | X | Worldwide | |||
For further information about Vernalis, please visit www.vernalis.com
This release is not an offer of securities for sale in the United States or elsewhere. The shares of Vernalis plc have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States unless registered under the Securities Act or pursuant to an exemption from such registration. There will be no public offering of the shares in the United States.
Vernalis Forward-Looking Statement
This news release may contain forward-looking statements that reflect the Company's current expectations regarding future events including the clinical development and regulatory clearance of the Company's products, the Company's ability to find partners for the development and commercialisation of its products, as well as the Company's future capital raising activities. Forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors including the success of the Company's research strategies, the applicability of the discoveries made therein, the successful and timely completion of clinical studies, the uncertainties related to the regulatory process, the ability of the Company to identify and agree beneficial terms with suitable partners for the commercialisation and/or development of its products, as well as the achievement of expected synergies from such transactions, the acceptance of Frova® and other products by consumers and medical professionals, the successful integration of completed mergers and acquisitions and achievement of expected synergies from such transactions, and the ability of the Company to identify and consummate suitable strategic and business combination transactions.