Vernalis PLC Regulatory News (VER)

6 Jun 2007 14:28

Vernalis PLC06 June 2007 Interests in 5p Ordinary Shares 6 June 2007 WINNERSH, U.K 6 June 2007 -- Vernalis plc (LSE: VER) announces that, followingapproval by shareholders of the Vernalis plc Bonus Long-Term Incentive Plan atthe AGM on 23 May 2007 and as part of a company-wide grant of share options, thefollowing options over new ordinary shares of 5p each in the company were todaygranted to Executive Directors and other Persons Discharging ManagerialResponsibilities (PDMR's) who are members of the management committee. Executive Director No of shares under option Exercise price J Hutchison 66,034 5pJ Slater 78,914 5pS Sturge 178,531 5pA Weir 67,263 5p PDMR No of shares under option Exercise price N Clark 18,281 5pS McBrinn 48,806 5pE Smith 30,629 5pM Wood 34,403 5p The awards were calculated with reference to the annual performance-relatedbonus earned by each participant for the year ended 31 December 2006. The awardswill not normally vest, or become exercisable, prior to the third anniversary ofthe date of grant and will normally remain exercisable until the sixthanniversary of the date of grant, except for the grant to S McBrinn, which willremain exercisable until the end of the financial year in which the grant vests. All participants have also received a matching award which vests if challengingshare price growth targets are achieved over a three-year period. Theperformance targets are: Overall share price Equivalent per growth over three-year annum share price period growthPerformance Match Target 33.1% 10% 50%Very Good 52.0% 15% 100%Superior 72.8% 20% 200%Exceptional 174.4% 40% 300% As a result, if exceptional performance is achieved, the maximum matching awardsare: J Hutchison 198,102 shares; J Slater 236,742 shares; S Sturge 535,593shares; A Weir 201,789 shares; N Clark 54,843 shares; S McBrinn 146,418 shares;E Smith 91,887 shares and M Wood 103,209 shares. M Wood also today bought 9,639 Ordinary Shares of 5p each at a price of 62.25pence per share. - ends - Enquiries:Vernalis plc +44 (0) 118 977 3133Simon Sturge, Chief Executive OfficerTony Weir, Chief Financial Officer Brunswick Group +44 (0) 20 7404 5959Jon ColesJustine McIlroy Lazar Partners LtdGregory Gin 212-867-1762 Notes to Editors About Vernalis Vernalis is a speciality bio-pharmaceutical company focused on products marketedto specialist neurologists. The company has two marketed products, Frova(R) andApokyn(R), and a development pipeline focused on neurology and central nervoussystem disorders. The company has eight products in clinical development andcollaborations with leading, global pharmaceutical companies including Novartis,Biogen Idec and Serono. Vernalis has established a US commercial operation topromote Apokyn(R) and co-promote Frova(R) alongside its North American licensingpartner, Endo Pharmaceuticals, progressing the company towards its goal ofbecoming a sustainable, self-funding, R&D-driven, speciality bio-pharmaceuticalcompany. For further information about Vernalis, please visit: www.vernalis.com +-------+-----------+-----+-----+-----+------------+------+------------+|Product|Indication |Phase|Phase|Phase| | |Marketing || | | | | | | |Rights || | | I | II | III |Registration|Market| || | | | | | | | || | | | | | | | |+-------+-----------+-----+-----+-----+------------+------+------------+|Apokyn |Parkinson's| | | | | x |North ||(R) |Disease | | | | | |America || | | | | | | | |+-------+-----------+-----+-----+-----+------------+------+------------+|Frova |Migraine | | | | | x |US ||(R) | | | | | | |milestones &|| | | | | | | |royalties - || | | | | | | |Endo || | | | | | | |(EU - || | | | | | | |royalties) |+-------+-----------+-----+-----+-----+------------+------+------------+|Frova |Menstrual | | | | x | |US ||(R) |Migraine | | | | | |milestones &|| |Prevention | | | | | |royalties - || | | | | | | |Endo || | | | | | | |(EU - || | | | | | | |royalties) |+-------+-----------+-----+-----+-----+------------+------+------------+|V1512 |Parkinson's| | x | | | |World Wide || |Disease | | | | | |(excl. Italy|| | | | | | | |) |+-------+-----------+-----+-----+-----+------------+------+------------+|V10153 |Ischaemic | | x | | | |World Wide || |stroke | | | | | | |+-------+-----------+-----+-----+-----+------------+------+------------+|V1003 |Acute Pain | | x | | | |US Profit || | | | | | | |share Option|| | | | | | | |Reckitt || | | | | | | |Benckiser |+-------+-----------+-----+-----+-----+------------+------+------------+|V3381 |Neuropathic| | x | | | |World Wide || |Pain | | | | | | |+-------+-----------+-----+-----+-----+------------+------+------------+|V2006 |Parkinson's| | x | | | |US || |Disease | | | | | |Co-promotion|| | | | | | | |Biogen Idec |+-------+-----------+-----+-----+-----+------------+------+------------+|MMPI |Multiple | x | | | | |None - || |Sclerosis | | | | | |royalty || | | | | | | |(Serono) |+-------+-----------+-----+-----+-----+------------+------+------------+|V24343 |Obesity | x | | | | |World Wide |+-------+-----------+-----+-----+-----+------------+------+------------+ Vernalis Forward-Looking Statement This news release may contain forward-looking statements that reflect theCompany's current expectations regarding future events including the clinicaldevelopment and regulatory clearance of the Company's products, the Company'sability to find partners for the development and commercialisation of itsproducts, as well as the Company's future capital raising activities.Forward-looking statements involve risks and uncertainties. Actual events coulddiffer materially from those projected herein and depend on a number of factorsincluding the success of the Company's research strategies, the applicability ofthe discoveries made therein, the successful and timely completion of clinicalstudies, the uncertainties related to the regulatory process, the ability of theCompany to identify and agree beneficial terms with suitable partners for thecommercialisation and/or development of its products, as well as the achievementof expected synergies from such transactions, the acceptance of Frova(R) andApokyn(R) and other products by consumers and medical professionals, thesuccessful integration of completed mergers and acquisitions and achievement ofexpected synergies from such transactions, and the ability of the Company toidentify and consummate suitable strategic and business combinationtransactions. This information is provided by RNS The company news service from the London Stock Exchange