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 London Limited

REC - St James's Place Recovery Unit Trust

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:

25 April 2013

6. Date on which issuer notified:

29 April 2013

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

20%, 13% and 12%

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

96,795,107

96,795,107

86,795,107

86,795,107

19.632%

GAM London Limited

REC - St James's Place Recovery Unit Trust

58,201,153

58,201,153

48,846,624

48,846,624

11.048%

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

N/A

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

None

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

GAM London Ltd - 96,795,107

19.632%

REC - St James's Place Recovery Unit Trust - 48,846,624

11.048%

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

GAM London Limited as discretionary manager holds shares in Vernalis plc through St James's Place Recovery Unit Trust (REC) and a number of other funds.

The disclosure on behalf of REC was triggered due to a sale of 9,354,529 shares of Vernalis plc on behalf of REC.

GAM London Limited also disposed of 645,471 Vernalis plc shares through other funds, with an aggregate disposal throughout all its funds of 10,000,000 shares.

These other disposals did not cause the other funds' holdings to cross or reach any threshold points.

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