Verona Pharma plc (VRNA) Earnings Call Transcript & Summary

Hello and welcome to the Verona Pharmaceuticals Annual General Meeting 2021 [Operator Instructions] Please note, today's event is being recorded. I'd now like to turn the conference over to Dr. David Ebsworth. Dr. Ebsworth, please go ahead.

Thank you very much. Good day, ladies and gentlemen. It is my pleasure as a Chairman to welcome you to the Verona Pharma plc Annual General Meeting. I'm joined today by telephone by our nonexecutive Directors, our Chief Executive Officer, Dr. David Zaccardelli; our Chief Financial Officer, Mark Hahn; our General Counsel, Claire Poll; our company Secretary, Ben Harper; and representatives from our auditors, PwC. [Operator Instructions] At the end of the meeting, we will hold a Q&A session during which we will answer questions relevant to the business of the company and the meetings matters. As noted in our AGM notice, each shareholder is limited to 2 questions. Questions should be succinct and only cover a single topic. If it is not possible to answer any of the questions submitted during the meeting, we will endeavor to respond to those questions after the meeting. We note that the company will be hosting a further conference call on Thursday, the 29th of April, to present its First Quarter 2021 Financial Results. This call will provide an opportunity for shareholders to receive an update on the company's financial results and operations and ask related questions. Details of the conference call are on the company's website under the Investors section. This Annual General Meeting of the company was convened by notice to shareholders dated the 19th of March 2021. The business of the meeting is to reelect myself, Dr. David Ebsworth, Dr. Martin Edwards, Dr. Anders Ullman; and Lisa Deschamps as Directors of the company; to receive and adopt the 2020 U.K. annual report; to receive and approve the U.K. Directors remuneration report; to receive and approve the U.K. Directors remuneration policy; to appoint PricewaterhouseCoopers LLP as auditors; to authorize the Audit and Risk committee to determine the auditor's remuneration for the year ending December 31, 2021; to authorize the Directors to allot securities and to dis-imply preemption rights on allotment of securities. May I take the notice as read? We will now move to the formal business of the meeting. And I propose we deal with each of the resolutions by way of poll vote. I therefore, exercise my right as Chairperson of the meeting in accordance with the company's articles of association to call for a poll vote on all of the resolutions set out in the notice of the meeting using the final proxy voting figures received by the company secretary. Prior to the meeting, pre-populated poll cards using the final proxy voting numbers produced by the company secretary were completed and signed. I will now announce the results of the poll in percentage terms only. I will read the results of each resolution in term. Resolution 1. In favor, 99.996%, against 0.004%. I declare the resolution carried as an ordinary resolution. Resolution 2. In favor, 99.995%, against, 0.005%. I declare the resolution carried as an ordinary resolution. Resolution 3. In favor, 99.996%, against, 0.004%. I declare the resolution carried as an ordinary resolution. Resolution 4. In favor, 99.986%, against, 0.014%. I declare the resolution carried as an ordinary resolution. Resolution 5. In favor, 99.997%, against, 0.003%. I declare the resolution carried as an ordinary resolution. Resolution 6. In favor, 99.858%, against, 0.142%, I declare the resolution carried as an ordinary resolution. Resolution 7. In favor, 99.85%, against, 0.15%. I declare the resolution carried as an ordinary resolution. Resolution 8. In favor, 99.996%, against, 0.004%. I declare the resolution carried as an ordinary resolution. Resolution 9. In favor, 99.994%, against, 0.006%. I declare the resolution carried as an ordinary resolution. Resolution 10. In favor, 90.699%, against, 9.301%. I declare the resolution carried as an ordinary resolution. Resolution 11. In favor, 90.698%, against, 9.302%. I declare the resolution carried as a special resolution. That completes the business of the Annual General Meeting, and I declare the formal business of the meeting closed. I will now turn the call over to the operator for the question-and-answer session.

[Operator Instructions] I'd see currently there are no question on the phone.

Okay. Well, in that case, perhaps I'll wrap up. Let me take this opportunity to thank our shareholders for your continued support. Let me also extend my thanks on behalf of the Board to the management and our dedicated team of hard-working professionals who are dedicating themselves to bring ensifentrine and new therapeutic alternative for patients suffering from chronic obstructive pulmonary disease to the market. Thank you, operator, and that concludes today's call.

Thank you, Dr. Ebsworth. The conference has now concluded. Thank you for attending today's presentation. You may now disconnect your lines.