- Verona Pharma has granted options to subscribe for 42,500,000 new ordinary shares to one of its directors and certain of its employees in accordance with the terms of the company's share option plans.

The options have an exercise price of 3.60 pence, representing 120% of the closing price of the companys share's on 2 August 2016.

Of the options granted, 25,000,000 options have been granted to chief executive Dr. Jan-Anders Karlsson, half of which vest on 3 August 2018 and the other half on 3 August 2019.

Of the options granted to employees, one third vest on 3 August 2017, one third vest on 3 August 2018 and the remaining third on 3 August 2019.

At 3:40pm: [LON:VRP] Verona Pharma PLC share price was +0.1p at 3.1p

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