Holding(s) in Company

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

X

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):

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

GAM International Management 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:

24 July 2013

6. Date on which issuer notified:

26 July 2013

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

9% and 10%

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

GB00B3Y5L754

37,948,483

37,948,483

44,661,637

44,661,637

10.102%

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

GAM International Management Limited - 44,661,637

10.102%

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

Sales and purchases in these funds have not triggered any disclosure requirements on fund level but have pushed the overall GAM holdings from 8.583% to 10.102%.

Previously, GAM London Limited acted as discretionary manager for a number of portfolios holding shares in Vernalis plc (as per disclosure made on 5th July 2013), including 42,713,154 shares for St James's Place Recovery Unit Trust, which were handed over in total (all 42,713,154 shares) to the newly appointed transition manager of St James's Place Recovery Unit Trust when the agreement between the client and GAM London Limited was terminated. This means that these holdings are no longer under the management of GAM.

Three portfolios under the management of GAM International Management Limited ("GIML", a sister company of GAM London Limited) have purchased shares. Their previous holdings had been disclosed in 2012. The result is GIML, acting as discretionary investment manager has the following positions:

- GAM Global Diversified Fund - 5.566%

- GAM UK Diversified Fund - < 3%

- GAM Exempt Trust - UK Opps Fund - < 3%

There is no holding remaining under the discretionary management of GAM London Limited.

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:

14. Contact name:

David Mackney, CFO

15. Contact telephone number:

+44 (0) 118 938 0015