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Verseon Corporation (VERS)

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Wednesday 20 November, 2019

Verseon Corporation

Transaction in Own Shares

RNS Number : 1145U
Verseon Corporation
20 November 2019
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (596/2014/EU) ("MAR").

November 20, 2019

 

Verseon Corporation

 

("Verseon" or the "Company")

 

Transaction in Own Shares, Related Party Transaction, and Update on Tender Offer

 

FREMONT, Calif.-Further to its announcements earlier today, Verseon announces that, through its wholly owned subsidiary VSH1, the Company has purchased 35,087,966 Common Shares in the Company, formerly owned by Woodford Investment Management Limited, from Link Fund Solutions Ltd ("Link") at 1.56 pence per share (the "Purchase"). The Company intends to use the share price from the Purchase as the price per share for its planned tender offer to other shareholders. Further details of the tender offer will be released as soon as practically possible.

Total Voting Rights

Following the Purchase, the issued share capital of the Company will consist of 159,737,905 Common Shares and the Company will hold 42,917 shares in treasury. Therefore, the total number of Common Shares in the Company with voting rights will be 159,694,988. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Related Party Transaction

Due to Link's substantial shareholding in the Company, Verseon's share purchase from Link is classified as a related party transaction under the AIM Rules for Companies. The Directors of the Company, having consulted with the Company's Nominated Adviser, Arden Partners plc, consider that the terms of the transaction are fair and reasonable insofar as the shareholders are concerned.

- Ends -

For further information, please contact:

Verseon Corporation

www.verseon.com

Sebastian Wykeham / Tina Schlafly

+1 (510) 225 9000

 

 

Arden Partners (NOMAD and Broker)

 

Ruari McGirr / Ciaran Walsh / Dan Gee-Summons (Corporate Finance)

 +44 (0) 20 7614 5900

 

For trade and pharma media enquiries, please contact

Vane Percy & Roberts

 

Simon Vane Percy

+44 (0) 1737 821 890

 

 

 

 


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