
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESⁱ

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ⁱⁱ		Verona Pharma 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):
3. Full name of person(s) subject to the notification obligation: ⁱⁱⁱ	Wales Life Sciences Investment Fund LP
4. Full name of shareholder(s) (if different from 3.):^iv
5. Date of the transaction and date on which the threshold is crossed or reached: ^v	3 January 2017
6. Date on which issuer notified:	3 January 2017
7. Threshold(s) that is/are crossed or reached: ^{vi, vii}	4.1%

8. Notified details:

A: Voting rights attached to shares ^{viii, ix}

Class/type of
shares

if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of voting rights ^x

Direct

Direct ^xi

Indirect ^xii

Direct

Indirect

Ordinary

207,500,000

105,500,000

4.1%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date ^xiii

Exercise/
Conversion Period ^xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments ^{xv, xvi}

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date ^xvii

Exercise/
Conversion period ^xviii

Number of voting rights instrument refers to

% of voting rights ^{xix, xx}

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

105,500,000

4.1%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: ^xxi
Wales Life Sciences Investment Fund LP, as a stand-alone entity, previously held 8.1% of voting rights of Verona Pharma plc. After this disposal it holds 4.1% The Wales Life Sciences Investment Fund LP is managed by Arthurian Life Sciences Ltd. Arix Bioscience plc is the parent of Arthurian Life Sciences Ltd. Arix Bioscience plc separately holds 2.5% of the voting rights which remain unchanged.

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:	Shafia Zahoor
15. Contact telephone number:	020-7290-1057

Note: Annex should only be submitted to the FCA not the issuer
Annex: Notification of major interests in share

A: Identity of the persons or legal entity subject to the notification obligation
Full name (including legal form of legal entities)	Wales Life Sciences Investment Fund LP
Contact address (registered office for legal entities)	20 Berkeley Square, London W1J 6EQ
Phone number & email	020-7290-1057
Other useful information (at least legal representative for legal persons)

B: Identity of the notifier, if applicable
Full name	Shafia Zahoor
Contact address	20 Berkeley Square, London W1J 6EQ
Phone number & email	020-7290-1057 shafia@arixbioscience.com
Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obligation)

C: Additional information