Director/PDMR Shareholding

6 May 2011

LSE:VER

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

Vernalis plc (LSE: VER) announces that, in accordance with DTR 3.1.4R(1)(a) and the rules of the Vernalis plc Bonus Long-Term Incentive Plan ("LTIP") scheme arrangements approved by shareholders, the following Bonus Awards over new ordinary shares of 1p each in the Company were yesterday granted to Executive Directors and other Persons Discharging Managerial Responsibilities who are members of the management committee ("PDMRs").

In accordance with the rules of the LTIP, the above grant of Bonus Awards reflects the Company's practice of granting LTIP Bonus Awards to all employees.

The Bonus Awards were calculated with reference to the annual performance-related bonus earned by each participant for the year ended 31 December 2010. The awards will not normally vest, or become exercisable, prior to the third anniversary of the date of grant and will normally remain exercisable until the sixth anniversary of the date of grant.

All participants have also received a Matching Award which vests if challenging share price growth targets are achieved over a three-year period. The performance targets and Matching Award percentages based on achieving those targets are as follows:

As a result, if exceptional performance is achieved, the maximum Matching Awards that may accrue to Executive Directors and PDMRs are as follows:

The Executive Directors and PDMRs have agreed to pay the employer's National Insurance contributions arising on the exercise of these Bonus Awards and Matching Awards.

Enquiries:

Notes to Editors

About Vernalis

Vernalis is a development stage pharmaceutical company with significant expertise in taking promising product candidates along a commercially-focused path to market. The Group has one marketed product, frovatriptan for the acute treatment of migraine, and eight candidates in development, seven of which are designated priority programmes. Four of these priority development programmes are currently unpartnered and three are partnered. Pipeline programmes are derived from both our own research activities where we have significant expertise in fragment and structure based drug discovery, as well as from collaborations. Our technologies, capabilities and products are endorsed by collaborations with Endo, GSK, Lundbeck, Menarini, Novartis and Servier.

For further information about Vernalis, please visit www.vernalis.com

Vernalis Forward-Looking Statement

This news release may contain forward-looking statements that reflect the Company's current expectations regarding future events including the clinical development and regulatory clearance of the Company's products, the Company's ability to find partners for the development and commercialisation of its products, as well as the Company's future capital raising activities. Forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors including the success of the Company's research strategies, the applicability of the discoveries made therein, the successful and timely completion of clinical studies, the uncertainties related to the regulatory process, the ability of the Company to identify and agree beneficial terms with suitable partners for the commercialisation and/or development of its products, as well as the achievement oaf expected synergies from such transactions, the acceptance of frovatriptan and other products by consumers and medical professionals, the successful integration of completed mergers and acquisitions and achievement of expected synergies from such transactions, and the ability of the Company to identify and consummate suitable strategic and business combination transactions.