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30 May 2012 07:46
NOTIFICATION OF TRANSACTIONS OF DIRECTORS AND APPLICABLE EMPLOYEES
VERNALIS PLC (the "Company")
30 May 2012
Vernalis plc (LSE: VER) announces that following a resolution by the Board of Vernalis plc passed in relation to the 2012 Value Builder Plan ("Plan") arrangements approved by shareholders, the following options over the Company's ordinary shares, with a nominal value of 1 pence each, were yesterday granted to the Executive Directors and other applicable employees (for the purposes of the AIM Rules for Companies) who are members of the management committee ("Applicable Employees"):
Executive Director | No of shares under option | Exercise Price | % of Issued Share Capital |
Ian Garland | 5,176,521 | 1 pence | 1.2% |
David Mackney | 3,604,961 | 1 pence | 0.8% |
Applicable Employees | No of shares under option | Exercise Price | % of Issued Share Capital |
Mike Wood | 629,721 | 1 pence | 0.1% |
Stephen Pawsey | 542,897 | 1 pence | 0.1% |
The options are exercisable five years following grant provided that the performance conditions of the option scheme are met.
Enquiries:
Vernalis | +44 (0) 118 938 0015 |
Ian Garland, Chief Executive Officer David Mackney, Chief Financial Officer
| |
Nomura Code Securities | +44 (0) 20 7776 1200 |
Jonathan Senior, Giles Balleny
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Brunswick Group | +44 (0) 20 7404 5959 |
Jon Coles, Kristin Shine
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Taylor Rafferty | +44 (0) 20 7614 2900 |
Rob Newman, Faisal Kanth
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Notes to Editors
About Vernalis
Vernalis is a revenue generating development stage pharmaceutical company with significant expertise in drug development. The Group has one marketed product, frovatriptan for the acute treatment of migraine, an exclusive licensing agreement to develop and commercialise multiple novel products focussed on the US prescription cough/cold market as well as eight programmes in its NCE development pipeline. Vernalis has significant expertise in fragment and structure based drug discovery which it leverages to enter into collaborations with larger pharmaceutical companies. The Company's technologies, capabilities and products are endorsed by collaborations with Endo, Genentech, GSK, Lundbeck, Menarini, Novartis, Servier and Tris.
For further information about Vernalis, please visit www.vernalis.com
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