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21 May 2009 16:09
CORRECTING ANNOUNCEMENT
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
VERNALIS PLC (the "Company")
WINNERSH, U.K 20 May 2009 Vernalis plc (LSE: VER) announces that in accordance with DTR 3.1.2R and following a resolution by the Board of Vernalis plc passed in accordance with share scheme arrangements approved by shareholders, the following options over new ordinary shares of 20 pence each in the Company were today granted to Ian Garland, the Chief Executive Officer, and David Mackney, the Chief Financial Officer:
|
Executive Director |
No of shares under option |
Exercise Price |
% of Issued Share Capital |
|
Ian Garland |
246,212 |
66 pence |
0.42% |
|
David Mackney |
606,060 |
66 pence |
1.04 % |
The options are exercisable between three and ten years following grant provided that the performance conditions of the option scheme are met.
Following completion of the re-organisation and consolidation of the Company's share capital at the General Meeting held on Monday 18 May 2009, Mr Garland's earlier share option grant of 9,750,000 Ordinary 5 pence shares (announced 29 December 2008) results in options over 487,500 Ordinary 20 pence shares at an exercise price of £1.00. Mr Garland's total entitlement over options is 1.26% of the new issued share capital
Following completion of the re-organisation and consolidation of the Company's share capital and conclusion of the Placing & Open Offer (announced by the Company on 29 April 2009) at the General Meeting held on Monday 18 May 2009, the Company confirms the resulting shareholdings of directors as follows:
|
Executive Director |
No of Ordinary 5p shares held prior to the Consolidation and Re-organisation of the Company's share capital |
No of Ordinary 5p shares acquired under the Placing & Open Offer |
No of Ordinary 20p shares held following the Consolidation and Re-organisation of the Company's share capital including those shares acquired under the Placing & Open Offer |
% of Issued Share Capital |
|
Dr Peter Fellner |
525,888 |
1,156,953 |
84,141 |
0.145% |
|
Ian Garland |
1,111,100 |
NIL |
55,555 |
0.096% |
|
John Slater |
45,495 |
100,089 |
7,278 |
0.013% |
|
David Mackney |
222,220 |
NIL |
11,111 |
0.019% |
|
George Kennedy |
129,094 |
284,006 |
20,654 |
0.036% |
|
Dr Allan Baxter |
2,899 |
6,377 |
462 |
0.001% |
|
Carol Ferguson |
122,969 |
270,531 |
19,673 |
0.034% |
|
Dr Peter Read |
4,331 |
9,528 |
692 |
0.001% |
Enquiries:
Vernalis plc +44 (0) 118 977 3133
Dr Peter Fellner, Executive Chairman
Ian Garland, Chief Executive Officer
David Mackney, Chief Financial Officer
Brunswick Group +44 (0) 20 7404 5959
Jon Coles
Justine McIlroy
About Vernalis:
Vernalis is a development stage pharmaceutical company developing a pipeline of clinical and early stage programmes. The company currently has seven product candidates in clinical development (two of which are partnered) and two programmes in pre-clinical trials (one with a partner) and other competitive research programmes. Our collaborations are with leading, global pharmaceutical companies including Biogen Idec, Novartis, Servier, Chiesi, Menarini and Endo.
For further information about Vernalis, please visit www.vernalis.com.
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