Vernalis PLC Regulatory News (VER)

13 May 2009 17:11



NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

WINNERSH, UK: 13 May 2009

Vernalis plc (LSE : VER) ("Vernalis" or the "Company") announces that it has been informed that on 13 May 2009 the following directors bought shares in the Company:

Mr Ian Garland, Chief Executive Officer, purchased 1,111,100 Ordinary 5 pence shares at a price of 4.5 pence per share. 

Mr David Mackney, Chief Financial Officer, purchased 222,220 Ordinary 5 pence shares at a price of 4.5 pence per share.

Following this transaction Mr Garland and Mr Mackney will be the beneficial holders of 0.31% and 0.06%, respectively, of the Company's current issued share capital. 

In addition, the Company confirms that those directors with existing shareholdings have given irrevocable undertakings to take up their full Open Offer entitlements as indicated in the prospectus for the Placing and Open Offer issued by the Company on 28 April 2009 ("Prospectus") pursuant to which:

Dr Peter Fellner will acquire 1,156,953 Ordinary 5 pence shares 

George Kennedy will acquire 284,006 Ordinary 5 pence shares

Dr Allan Baxter will acquire 6,377 Ordinary 5 pence shares

Carol Ferguson will acquire 270,531 Ordinary 5 pence shares

Dr Peter Read will acquire 9,528 Ordinary 5 pence shares

John Slater will acquire 100,089 Ordinary 5 pence shares

Directors will take up a total of 1,827,484 Ordinary 5 pence shares under the Open Offer. An appropriate announcement will be made after the Company's General Meeting to be held on 18 May 2009, detailing these Directors' resulting shareholdings. 

All Ordinary 5 pence shares will be subject to the share capital reorganisation as indicated in the Prospectus.

Enquiries:

Vernalis plc +44 (0) 118 977 3133

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.