Vernalis PLC Regulatory News (VER)

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Vernalis plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

Change in ISC

X

3. Full name of person(s) subject to the notification obligation:

Ignis Investment Services Limited

4. Full name of shareholder(s) (if different from 3.):

5. Date of the transaction and date on which the threshold is crossed or reached:

5 March, 2012

6. Date on which issuer notified:

6 March, 2012

7. Threshold(s) that is/are crossed or reached:

3%

8. Notified details:

A: Voting rights attached to shares

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights

Direct

Indirect

Direct

Indirect

Ordinary 1p Shares

3,580,831

0.81%

 GB00B3Y5L754

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate

Exercise/ConversionPeriod

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Exerciseprice

Expirationdate

Exercise/Conversionperiod

Number of votingrights instrumentrefers to

% of voting rights

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

3,580,831

0.81%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable:

Vidacos Nominees Ltd (3,580,831 - 0.81%)

Phoenix Group Holdings

Impala Holdings Limited

Ignis Asset Management Ltd

Ignis Investment Services Ltd (indirect)

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

Notice of change in this major interest was sent on 06/03/2012 to an incorrect e-mail address at the issuer as was, on 16/02/2012, an earlier notice of change informing the issuer of a 3,025,000 interest (3.04%). The issuer has informed the notifier of the correct e-mail address to send any such notice in future.

14. Contact name:

Kevin Kissane

General Counsel & Company Secretary

15. Contact telephone number:

0118 989 9334