Issue of Equity

10th Dec 2007 12:07

Verona Pharma plc (the "Company") Issue of Equity

The Company announces that it has raised ‚£100,000, before expenses, by way of a placing of 2,500,000 new ordinary shares of 0.1p each in the Company ("New Ordinary Shares") at 4p per share ("First Placing"). Application will be made for the New Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 13 December 2007 ("Admission"). On Admission, the Company will have 146,750,000 shares in issue.

In addition, the Company is looking to raise an additional amount of up to ‚£ 2,400,000 via the placing of New Ordinary Shares at 4p per share ("Second Placing"). The Second Placing will be subject to shareholder approval to increase the Company's share authorities. It is anticipated that a circular convening a general meeting of shareholders of the Company will be dispatched shortly. Further details will be announced in due course.

For further information please contact:

Professor Clive Page, Verona Pharma plc Tel: 07971 504 931 David Youngman, WH Ireland Limited

Tel: 0161 832 2174

VERONA PHARMA PLC

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Related Shares:

VRP.L