PHSC Phsc Plc

For filings with the FCA include the annex

For filings with issuer exclude the annex


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                                   PHSC plc
attached:ii

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                                     Downing LLP
notification obligation:iii

4. Full name of shareholder(s)                                       Downing ONE VCT plc
 (if different from 3.):iv


5. Date of the transaction and date on
which the threshold is crossed or                                             20/04/2015
reached: v

6. Date on which issuer notified:                                             20/04/2015

7. Threshold(s) that is/are crossed or                                          4% to 3%
reached: vi, vii





8. Notified details:

A: Voting rights attached to shares viii, ix

Class/   Situation previous          Resulting situation after the triggering transaction
type of  to the triggering
shares   transaction


if       Number          Number      Number      Number of voting          % of  voting rights
possible of              of          of shares   rights                    x
using    Shares          Voting
the ISIN                 Rights
CODE                                                            Indirect
                                     Direct      Direct xi      xii        Direct  Indirect

         576,509         576,509     441,509     441,509                   3.48%
Ordinary
shares



B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of     Expiration     Exercise/              Number of voting             % of voting
financial   date xiii      Conversion Period xiv  rights that may be           rights
instrument                                        acquired if the
                                                  instrument is
                                                  exercised/ converted.




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

Resulting situation after the triggering transaction

Type of    Exercise      Expiration Exercise/    Number of voting rights     % of voting rights
financial  price         date xvii  Conversion   instrument refers to        xix, xx
instrument                          period xviii


                                                                             Nominal Delta




Total (A+B+C)

Number of voting rights                     Percentage of voting rights

441,509                                     3.48%



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




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:                                    Grant Whitehouse, Company Secretary

15. Contact telephone number:                                              0207 416 7780