UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 
FORM 6-K

 
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
 
April and May 2017

 
Commission File Number:  001-38067

 
Verona Pharma plc
(Exact Name of Registrant as Specified in Its Charter)

 
3 More London Riverside
London SE1 2RE UK
+44 203 283 4200
(Address of principal executive office)

 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
 
Form 20-F x Form 40-F o
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

 

 
INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K
 
On April 28, 2017, Verona Pharma plc (the “Company”) issued a release notification system (“RNS”) announcement in the United Kingdom disclosing related party transactions (the “ Related Party RNS ”).
 
On May 3, 2017, the Company issued a RNS disclosing the grant of options and restricted share units to persons discharging managerial responsibilities (the “ Grant RNS ”).
 
The Related Party RNS and the Grant RNS are furnished herewith as Exhibits 99.1 and 99.2 to this Report on Form 6-K.
 
2

 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 	VERONA PHARMA PLC	

Date: May 3, 2017	By:	/s/ Jan-Anders Karlsson	
 	 	Name:	Jan-Anders Karlsson, Ph.D.	
 	 	Title:	Chief Executive Officer	
 
3

 
EXHIBIT INDEX
 
Exhibit
No.	 	Description	
 	 	 	
99.1	 	Release Notification System Announcement, dated April 28, 2017	
 	 	 	
99.2	 	Release Notification System Announcement, dated May 3, 2017	
 
4

Exhibit 99.1

 
Verona Pharma Announces Director Purchases and Related Party Transactions
 
April 28, 2017, LONDON — Verona Pharma plc (AIM: VRP) (“Verona Pharma”), a clinical-stage biopharmaceutical company focused on developing and commercialising innovative therapeutics for the treatment of respiratory diseases with significant unmet needs, makes the following announcement further to the announcement released yesterday in respect of the Global Offering and the Shareholder Private Placement.  Capitalised terms in this announcement will have the same meanings to those defined in the announcement released yesterday regarding the Global Offering, unless otherwise indicated.
 
Director Purchases
 
Verona Pharma notifies the following transactions by persons discharging managerial responsibilities (“PDMRs”) in its ordinary shares through participation in the Global Offering or, in the case of Dr David Ebsworth, the Shareholder Private Placement.
 
Name	 	No. of ADSs to
be purchased	 	No. of ordinary
shares to be
purchased	 	Total
consideration	 	Total number of ordinary
shares or ADSs held
following closing	 	
 	 	 	 	 	 	 	 	 	 	
Dr David Ebsworth	 	—	 	13,373	 	£	17,652.36	 	117,657
(ordinary shares)	 	
 	 	 	 	 	 	 	 	 	 	
Vikas Sinha	 	22,222	 	—	 	$	299,997.00	 	22,222
(ADSs)	 	
 
The notification of dealing form for each PDMR can be found below.
 
AIM Rule 13 — Related Party Transactions
 
Verona Pharma has been informed that certain persons who are related parties as defined in the AIM Rules for Companies (the “AIM Rules”) will be purchasing ADSs or ordinary shares in the Global Offering.  The participation of the following persons in the Global Offering, by virtue of their each owning over 10% of the current issued share capital of Verona Pharma and their respective participations in the Global Offering, each constitutes a related party transaction for the purposes of the AIM Rules.
 
The independent directors for the purposes of the Global Offering (being all the Directors save for those connected to these organisations participating in the Global Offering as detailed below), having consulted with the Company’s nominated adviser, N+1 Singer, consider that the terms of the related party transactions are fair and reasonable in so far as Verona Pharma’s shareholders are concerned.

 
Name	 	No. of ADSs to be
purchased	 	No. of ordinary shares
to be purchased	 	Total consideration	 	
 	 	 	 	 	 	 	 	
Novo A/S	 	740,740	 	—	 	$	9,999,990.00	 	
 	 	 	 	 	 	 	 	
Funds affiliated with Vivo Ventures	 	704,225	 	—	 	$	9,507,037.50	 	
 
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the United States Securities Act of 1933, as amended (the “Securities Act”). Any public offering of securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about the issuer and its management and financial statements. This press release is being issued pursuant to and in accordance with Rule 135e under the Securities Act.
 
For further information, please contact:
 
Verona Pharma plc	 	Tel: +44 (0)20 3283 4200	
Jan-Anders Karlsson, Chief Executive Officer	 	info@veronapharma.com	
 	 	 	
N+1 Singer (Nominated Adviser and UK Broker)	 	Tel: +44 (0)20 7496 3000	
Aubrey Powell / James White	 	 	
 	 	 	
FTI Consulting (UK Media and Investor enquiries)	 	Tel: +44 (0)20 3727 1000	
Simon Conway / Stephanie Cuthbert /
Natalie Garland-Collins	 	veronapharma@fticonsulting.com	
 	 	 	
ICR, Inc. (US Media and Investor enquiries)	 	 	
James Heins	 	Tel: +1 203-682-8251
James.Heins@icrinc.com	
Stephanie Carrington	 	Tel. +1 646-277-1282
Stephanie.Carrington@icrinc.com	

 
The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.
 
1	Details of the person discharging managerial responsibilities / person closely associated	
 	 	
a)	Name	 	Dr David Ebsworth	
 	 	 	 	
2	Reason for the notification	
 	 	
a)	Position/status	 	Non-Executive Chairman	
 	 	 	 	
b)	Initial notification /Amendment	 	Initial Notification	
 	 	 	 	
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor	
 	 	
a)	Name	 	Verona Pharma plc	
 	 	 	 	
b)	Legal Entity Identifier	 	213800EVI6O6J3TIAL06	
 	 	 	 	
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted	
 	 	
a)	Description of the financial instrument, type of instrument	 	Ordinary Shares of 5p each	

 	Identification code	 	ISIN Code: GB00BYW2KH80	
 	 	 	 	
b)	Nature of the transaction	 	Purchase of Ordinary Shares	
 	 	 	 	
c)	Price(s) and volume(s)	 	 	
 	 	 	Price	 	Volume	 	 	
 	 	 	£	1.32	 	13,373	 	 	
 	 	 	 	
d)	Aggregated information

- Aggregated volume

- Price	 	N/A (single transaction)	
 	 	 	 	
e)	Date of the transaction	 	26 April 2017	
 	 	 	 	
f)	Place of the transaction	 	London Stock Exchange, AIM	

 
1	Details of the person discharging managerial responsibilities / person closely associated	
 	 	
a)	Name	 	Vikas Sinha	
 	 	 	 	
2	Reason for the notification	 	 	
 	 	 	 	
a)	Position/status	 	Director	
 	 	 	 	
b)	Initial notification /Amendment	 	Initial Notification	
 	 	 	 	
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor	
 	 	
a)	Name	 	Verona Pharma plc	
 	 	 	 	
b)	Legal Entity Identifier	 	213800EVI6O6J3TIAL06	
 	 	 	 	
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted	
 	 	
a)	Description of the financial instrument, type of instrument	 	American Depositary Shares (each American Depositary Share represents eight Ordinary Shares of 5p each in Verona Pharma plc)	

 	Identification code	 	ISIN Code: US9250501064	
 	 	 	 	
b)	Nature of the transaction	 	Purchase of American Depositary Shares	
 	 	 	 	
c)	Price(s) and volume(s)	 	 	
 	 	 	Price	 	Volume	 	 	
 	 	 	$	13.50	 	22,222	 	 	
 	 	 	 	
d)	Aggregated information

- Aggregated volume

- Price	 	N/A (single transaction)	
 	 	 	 	
e)	Date of the transaction	 	27 April 2017	
 	 	 	 	
f)	Place of the transaction	 	NASDAQ	

Exhibit 99.2

 
FOR RNS RELEASE:
 
Grant of Options and RSUs and PDMR Dealings
 
May 3, 2017, LONDON — Verona Pharma plc (AIM: VRP) (“Verona Pharma”), a clinical-stage biopharmaceutical company focused on developing and commercialising innovative therapeutics for the treatment of respiratory diseases with significant unmet needs, announces that it granted the following options over ordinary shares of £0.05 each (the “Ordinary Shares”) and American Depositary Shares (“ADS”) and restricted share units (“RSUs”) and Restricted American Depositary Share Units (“RADSUs”) to directors and employees of Verona Pharma under and in accordance with Verona Pharma’s 2017 Incentive Award Plan:
 
·                  3,430,316 options to purchase Ordinary Shares;
·                  129,564 options to purchase ADSs representing 1,036,512 Ordinary Shares;
·                  853,220 RSUs; and
·                  24,877 RADSUs representing 199,016 Ordinary Shares.
 
Each RSU and RADSU represents an unfunded, unsecured right to receive, on the applicable settlement date, one Ordinary Share or the equivalent number of ADSs, as applicable, or an amount in cash or other consideration. Except where the context indicates otherwise, references hereunder to the Ordinary Shares shall be deemed to include a number of ADSs equal to an Ordinary Share.  No consideration was paid in respect of the grant of awards.
 
PDMR Dealings
 
Verona Pharma notifies the following transactions by persons discharging managerial responsibilities (“PDMRs”) in its Ordinary Shares through the grant of options over Ordinary Shares and ADSs and RSUs under and in accordance with Verona Pharma’s 2017 Incentive Award Plan.
 
Name	 	Options over	 	RSUs and RADSUs	
Dr Jan-Anders Karlsson	 	1,385,598 Ordinary Shares	 	346,395 RSUs	
Vikas Sinha	 	15,048 ADSs
(Representing 120,384 Ordinary Shares)	 	—	
Piers Morgan	 	802,690 Ordinary Shares	 	200,669 RSUs	
Ken Newman	 	99,516 ADSs
(Representing 796,128 Ordinary Shares)	 	24,877 RADSUs
(Representing 199,016 RSUs)	
 
The options over Ordinary Shares have an exercise price of £1.32 per Ordinary Share. The options over ADSs have an exercise price of £10.56 per ADS. The RSUs have a value of £1.32 per RSU and the RADSUs have a value of £10.56 per RADSU.
 
The options, RSUs and RADSUs set forth in the table above (other than those granted to Mr Sinha) will vest as to 50% of the Ordinary Shares or ADSs (as appropriate) in three substantially equal annual

 
instalments following the grant date and as to 50% of the Ordinary Shares or ADSs (as appropriate) in four substantially equal annual instalments following the grant date. The options granted to Mr Sinha will vest in three substantially equal annual instalments following the grant date.
 
The notification of dealing form in respect of option/RSU awards for each PDMR can be found below.
 
For further information, please contact:
 
Verona Pharma plc	Tel: +44 (0)20 3283 4200	
Jan-Anders Karlsson, Chief Executive Officer	info@veronapharma.com	
 	 	
N+1 Singer (Nominated Adviser and UK Broker)	Tel: +44 (0)20 7496 3000	
Aubrey Powell / James White	 	
 	 	
FTI Consulting (UK Media and Investor enquiries)	Tel: +44 (0)20 3727 1000	
Simon Conway / Stephanie Cuthbert /	veronapharma@fticonsulting.com	
Natalie Garland-Collins	 	
 	 	
ICR, Inc. (US Media and Investor enquiries)	 	
James Heins	Tel: +1 203-682-8251	
 	James.Heins@icrinc.com	
Stephanie Carrington	Tel. +1 646-277-1282	
 	Stephanie.Carrington@icrinc.com	

 
1	Details of the person discharging managerial responsibilities / person closely associated	
 	 	
a)	Name	 	Dr Jan-Anders Karlsson	
 	 	 	 	
2	Reason for the notification	 	 	
 	 	 	 	
a)	Position/status	 	Chief Executive Officer	
 	 	 	 	
b)	Initial notification /Amendment	 	Initial Notification	
 	 	 	 	
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor	
 	 	
a)	Name	 	Verona Pharma plc	
 	 	 	 	
b)	Legal Entity Identifier	 	213800EVI6O6J3TIAL06	
 	 	 	 	
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted	
 	 	
a)	Description of the financial instrument, type of instrument	 	Ordinary shares of 5p each	
 	 	 	 	
 	Identification code	 	ISIN Code: GB00BYW2KH80	
 	 	 	 	
b)	Nature of the transaction	 	Issue of options over Ordinary Shares	
 	 	 	 	
c)	Price(s) and volume(s) 	 	 	
 	 	 	Price(s)	 	Volume(s)	 	 	
 	 	 	Exercise Price:  £1.32	 	Options over 1,385,598
Ordinary Shares	 	 	
 	 	 	 	
d)	Aggregated information

- Aggregated volume

- Price	 	N/a (single transaction)	
 	 	 	 	
e)	Date of the transaction 	 	26 April 2017	

 
f)	Place of the transaction	 	London Stock Exchange, AIM	
 	 	
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted	
 	 	
a)	Description of the financial instrument, type of instrument	 	Ordinary shares of 5p each 	
 	 	 	 	
 	Identification code	 	ISIN Code: GB00BYW2KH80	
 	 	 	 	
b)	Nature of transaction	 	Grant of RSUs, each of which represents an unfunded, unsecured right to receive, on the applicable settlement date, one Ordinary Share or an amount in cash or other consideration	
 	 	 	 	
c)	Price(s) and volume(s) 	 	 	
 	 	 	Price(s)	 	Volume(s)	 	 	
 	 	 	No consideration	 	346,395	 	 	
 	 	 	 	
d)	Aggregated information

- Aggregated volume

- Price	 	N/a (single transaction)	
 	 	 	 	
e)	Date of the transaction 	 	28 April 2017	
 	 	 	 	
f)	Place of the transaction	 	London Stock Exchange, AIM	

 
1	Details of the person discharging managerial responsibilities / person closely associated	
 	 	
a)	Name	 	Vikas Sinha	
 	 	 	 	
2	Reason for the notification	 	 	
 	 	 	 	
a)	Position/status	 	Non-Executive Director	
 	 	 	 	
b)	Initial notification /Amendment	 	Initial Notification	
 	 	 	 	
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor	
 	 	
a)	Name	 	Verona Pharma plc	
 	 	 	 	
b)	Legal Entity Identifier	 	213800EVI6O6J3TIAL06	
 	 	 	 	
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted	
 	 	
a)	Description of the financial instrument, type of instrument	 	American Depositary Shares (“ADSs”), representing ordinary shares of 5p each, on deposit with a U.S. banking institution selected by the Company and which are registered pursuant to a Form F-6. 	
 	 	 	 	
 	Identification code	 	ISIN Code:  US9250501064	
 	 	 	 	
b)	Nature of the transaction	 	Issue of options over ADSs	
 	 	 	 	
c)	Price(s) and volume(s) 	 	 	
 	 	 	Price(s)	 	Volume(s)	 	 	
 	 	 	Exercise Price:  £10.56	 	Options over 15,048 ADSs (representing 120,384 Ordinary Shares)	 	 	
 	 	 	 	
d)	Aggregated information

- Aggregated volume	 	N/a (single transaction)	

 
 	- Price	 	 	
 	 	 	 	
e)	Date of the transaction 	 	26 April 2017	
 	 	 	 	
f)	Place of the transaction	 	NASDAQ	

 
1	Details of the person discharging managerial responsibilities / person closely associated	
 	 	
a)	Name	 	Piers Morgan	
 	 	 	 	
2	Reason for the notification	 	 	
 	 	 	 	
a)	Position/status	 	Chief Financial Officer	
 	 	 	 	
b)	Initial notification /Amendment	 	Initial Notification	
 	 	 	 	
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor	
 	 	
a)	Name	 	Verona Pharma plc	
 	 	 	 	
b)	Legal Entity Identifier	 	213800EVI6O6J3TIAL06	
 	 	 	 	
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted	
 	 	
a)	Description of the financial instrument, type of instrument	 	Ordinary shares of 5p each 	
 	 	 	 	
 	Identification code	 	ISIN Code: GB00BYW2KH80	
 	 	 	 	
b)	Nature of the transaction	 	Issue of options over Ordinary Shares	
 	 	 	 	
c)	Price(s) and volume(s) 	 	 	
 	 	 	Price(s)	 	Volume(s)	 	 	
 	 	 	Exercise Price:  £1.32	 	Options over 802,690
Ordinary Shares	 	 	
 	 	 	 	
d)	Aggregated information

- Aggregated volume

- Price	 	N/a (single transaction)	
 	 	 	 	
e)	Date of the transaction 	 	26 April 2017	

 
f)	Place of the transaction	 	London Stock Exchange, AIM	
 	 	
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted	
 	 	
a)	Description of the financial instrument, type of instrument	 	Ordinary shares of 5p each 	
 	 	 	 	
 	Identification code	 	ISIN Code: GB00BYW2KH80	
 	 	 	 	
b)	Nature of transaction	 	Grant of RSUs, each of which represents an unfunded, unsecured right to receive, on the applicable settlement date, one Ordinary Share or an amount in cash or other consideration	
 	 	 	 	
c)	Price(s) and volume(s) 	 	 	
 	 	 	Price(s)	 	Volume(s)	 	 	
 	 	 	No consideration	 	200,669	 	 	
 	 	 	 	
d)	Aggregated information

- Aggregated volume

- Price	 	N/a (single transaction)	
 	 	 	 	
e)	Date of the transaction 	 	28 April 2017	
 	 	 	 	
f)	Place of the transaction	 	London Stock Exchange, AIM	

 
1	Details of the person discharging managerial responsibilities / person closely associated	
 	 	
a)	Name	 	Ken Newman	
 	 	 	 	
2	Reason for the notification	 	 	
 	 	 	 	
a)	Position/status	 	Chief Medical Officer	
 	 	 	 	
b)	Initial notification /Amendment	 	Initial Notification	
 	 	 	 	
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor	
 	 	
a)	Name	 	Verona Pharma plc	
 	 	 	 	
b)	Legal Entity Identifier	 	213800EVI6O6J3TIAL06	
 	 	 	 	
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted	
 	 	
a)	Description of the financial instrument, type of instrument	 	American Depositary Shares (“ADSs”), representing ordinary shares of 5p each, on deposit with a U.S. banking institution selected by the Company and which are registered pursuant to a Form F-6. 	
 	 	 	 	
 	Identification code	 	ISIN Code: GB00BYW2KH80	
 	 	 	 	
b)	Nature of the transaction	 	Issue of options over ADSs	
 	 	 	 	
c)	Price(s) and volume(s) 	 	 	
 	 	 	Price(s)	 	Volume(s)	 	 	
 	 	 	Exercise Price:  £10.56	 	Options over 99,516 ADSs (representing 796,128 Ordinary Shares)	 	 	
 	 	 	 	
d)	Aggregated information

- Aggregated volume

- Price	 	N/a (single transaction)	

 
e)	Date of the transaction 	 	26 April 2017	
 	 	 	 	
f)	Place of the transaction	 	NASDAQ	
 	 	
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted	
 	 	
a)	Description of the financial instrument, type of instrument	 	ADSs	
 	 	 	 	
 	Identification code	 	ISIN Code:  US9250501064	
 	 	 	 	
b)	Nature of transaction	 	Grant of RADSUs, each of which represents an unfunded, unsecured right to receive, on the applicable settlement date, one ADS or an amount in cash or other consideration	
 	 	 	 	
c)	Price(s) and volume(s) 	 	 	
 	 	 	Price(s)	 	Volume(s)	 	 	
 	 	 	No consideration	 	24,877
(representing 199,016 Ordinary Shares)	 	 	
 	 	 	 	
d)	Aggregated information
 
- Aggregated volume
 
- Price	 	N/a (single transaction)	
 	 	 	 	
e)	Date of the transaction 	 	28 April 2017	
 	 	 	 	
f)	Place of the transaction	 	NASDAQ