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6 May 2011 07:01
6 May 2011
LSE:VER
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
Vernalis plc (LSE: VER) announces that, in accordance with DTR 3.1.4R(1)(a) and following a resolution by the Board of Vernalis plc passed in accordance with the Vernalis Share Option Plan scheme 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 Persons Discharging Managerial Responsibilities who are members of the management committee ("PDMRs"):
Executive Director | No of shares under option | Exercise Price | % of Issued Share Capital |
Ian Garland | 887,472 | 37.50 pence | 0.89% |
David Mackney | 559,789 | 37.50 pence | 0.56% |
PDMRs | No of shares under option | Exercise Price | % of Issued Share Capital |
Mike Wood | 243,491 | 37.50 pence | 0.24% |
Stephen Pawsey | 209,920 | 37.50 pence | 0.21% |
Nerida Scott | 346,667 | 37.50 pence | 0.35% |
The options are exercisable between three and ten years following grant provided that the performance conditions of the option scheme are met.
Enquiries:
Vernalis | +44 (0) 118 989 9360 |
Ian Garland, Chief Executive Officer David Mackney, Chief Financial Officer
| |
Brunswick Group | +44 (0) 20 7404 5959 |
Jon Coles Justine McIlroy
| |
Taylor Rafferty | +44 (0) 20 7614 2900 |
Rob NewmanFaisal Kanth
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Notes to Editors
About Vernalis
Vernalis is a development stage pharmaceutical company with significant expertise in taking promising product candidates along a commercially-focused path to market. The Group has one marketed product, frovatriptan for the acute treatment of migraine, and eight candidates in development, seven of which are designated priority programmes. Four of these priority development programmes are currently unpartnered and three are partnered. Pipeline programmes are derived from both our own research activities where we have significant expertise in fragment and structure based drug discovery, as well as from collaborations. Our technologies, capabilities and products are endorsed by collaborations with Endo, GSK, Lundbeck, Menarini, Novartis and Servier.
For further information about Vernalis, please visit www.vernalis.com
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 frovatriptan 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.
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