StockMarketWire.com - Respiratory diseases focused Verona Pharma said it would cancel its shares on AIM and focus on its US listing.

The last day of trading of the company's shares on AIM was scheduled for 29 October, with the de-listing taking effect on 30 October.

Verona Pharma said it would retain the listing of its American Depositary Shares on the Nasdaq Global Market.

It said only a small proportion of trading in its shares was conducted on AIM and a continuation of the decline would be likely lead to a decrease in liquidity on that market.

It added that a de-listing was expected to further enhance the liquidity of trading in its ADSs by combining on Nasdaq the volume of transactions from both Nasdaq and AIM.

'The cost of complying with the AIM rules for companies is duplicative of that for complying with the Nasdaq market rules, and the company sees advantages in reducing its cost base as it progresses its clinical development and commercialisation strategy, which remains unchanged,' Verona Pharma said.


At 9:41am: [LON:VRP] Verona Pharma PLC share price was -9p at 60p



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