27 March 2012
Cancellation of Listing and proposed admission to AIM
Vernalis plc (LSE: VER) (the "Company") announces
that it has requested the cancellation of its listing on
the Official List of the FSA. Such cancellation will
be with effect from 08.00 on 27 April 2012.
Following Admission of the New Ordinary Shares pursuant to
the Firm Placing and Placing and Open Offer as described in
the Prospectus sent to Shareholders on 10 February 2012,
the Company confirms it is in breach of Listing Rule 6.1.19
(the "Free Float requirement"). On 28
February 2012, Shareholders voted in favour of the
Resolutions which, inter alia, gave authority to the
Directors to cancel the Company's current listing and
seek admission to AIM if, on Admission, the Free Float
requirement was breached.
The Company confirms that it has given notice to the UKLA
to cancel its listing on the Official List and to the LSE
to cancel its Ordinary Shares from trading on the LSE's
main market for listed securities. Earlier today, the
LSE notified to RNS a Schedule One pre-admission
announcement of the Company's application for admission
to AIM.
The Company's listing on the Official List will be
cancelled effective at 08.00 on 27 April 2012 and it is
anticipated that admission to trading on AIM will occur at
the same time and on the same date.
Nomura Code Securities Limited will act as the
Company's Nominated Adviser (Nomad) pursuant to the AIM
rules.
Capitalised terms used (but not defined) in this
announcement have the same meanings as in the Prospectus
sent to shareholders on 10 February 2012 unless the context
requires otherwise.
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Vernalis plc
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+44 (0) 118 989 9360
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Ian Garland, Chief Executive Officer
David Mackney, Chief Financial Officer
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Nomura Code Securities:
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+44 (0) 20 7776 1200
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Juliet Thompson, Managing Director
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Brunswick Group
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+44 (0) 20 7404 5959
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Jon Coles
Kristin Shine
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Taylor Rafferty
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+44 (0) 20 7614 2900
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Rob Newman
Faisal Kanth
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About Vernalis
Vernalis is a revenue generating development stage
pharmaceutical company with significant expertise in drug
development. 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, Genentech, GSK, Lundbeck, Menarini, Novartis and
Servier.
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