Grant of Share Options

Verona Pharma plc ("Verona Pharma" or the "Company") Grant of Share Options 16 May 2014, Cardiff - Verona Pharma plc (AIM: VRP) announces that the Boardhas on 15 May 2014 granted under the Company's unapproved share option planoptions over 3,000,000 shares in the Company to its CEO, Jan-Anders Karlsson,and options over 1,250,000 shares in the Company to each of its directors,Clive Page and Claire Poll. The options, which have an exercise price of 3.5pence, will vest one third on each of 15 May 2015, 2016 and 2017. Following thegrant, each of the directors holds the following shares and options in theCompany: Director No. of Shares No. of Options No of Options Exercise Price Vested of Options Jan-Anders 1,709,091 13,000,000 666,666 3.5 - 15 penceKarlsson Clive Page 5,773,928 5,750,000 2,333,333 3.5 - 5 pence Claire Poll 4,750,000 5,750,000 3,333,333 3.5 - 5 pence The Company has also received notification that Claire Poll has, on 16 May,transferred 3,000,000 shares in the Company held in her own name to the PollFamily Investment Trust in which Ms Poll has an interest. -Ends- For more information, please contact: Verona Pharma plc Tel: 020 7863 3300Jan-Anders Karlsson, CEORichard Bungay, CFO WH Ireland Limited (NOMAD) Tel: 020 7220 1666Chris FieldingNick Field Notes to Editors About Verona Pharma plc Verona Pharma is developing "first-in-class" drugs to treat respiratorydisease, such as COPD, asthma and chronic, severe cough. The Company has threedrug programmes, two of which are in Phase II. The lead programme, RPL554, isan innovative dual phosphodiesterase (PDE) 3 and 4 inhibitor with bothbronchodilator and anti-inflammatory properties. VRP700 is an innovativeproduct for suppressing chronic, severe cough in patients with underlying lungdisease. In its third programme, Verona Pharma is investigating novelanti-inflammatory molecules, called NAIPs, for a wide range of respiratory andinflammatory diseases.