4th May 2007 15:38
Skyepharma PLC04 May 2007 SkyePharma PLC Announces Results of Shareholder Vote and Grant of Awards under the New Long-Term Incentive Plan LONDON, UK, 4 May 2007 - SkyePharma PLC (the "Company") (LSE: SKP; Nasdaq: SKYE)announces the results of the voting by shareholders at the Extraordinary GeneralMeeting held earlier today. The resolution approving the SkyePharma PLC 2007Long-Term Incentive Plan (the "LTIP") was passed. The Remuneration Committee has granted the following conditional nil cost shareawards to the Executive Directors under the SkyePharma PLC 2007 Long-TermIncentive Plan. In accordance with the rules of the LTIP, LTIP awards were granted on 4 May 2007at a price of 23 pence per Ordinary Share (the closing share price on thepreceding dealing day) as follows: Executive Director Number of Ordinary Shares subject to the LTIP Award at a price of 23 pence per Ordinary Share Frank Condella (CEO) 5,869,565Dr Ken Cunningham (COO) 3,260,869Peter Grant (FD) 2,739,130 The Ordinary Shares subject to LTIP awards will only be released to thedirectors in three years time subject to their continued employment and thesatisfaction of the following conditions:- - 10% of the Ordinary Shares subject to LTIP awards will be released if the Company's share price is 35 pence at the end of the three year period with 100% released for a share price of 55 pence; - the Remuneration Committee will also be ensuring that the underlying financial performance of the Company is consistent with its share price performance. For further information please contact: SkyePharma PLCFrank Condella, Chief Executive OfficerKen Cunningham, Chief Operating Officer +44 207 491 1777Peter Grant, Finance Director Financial Dynamics (London enquiries)David Yates / Deborah Scott +44 207 831 3113 Trout Group (US enquiries)Christine Labaree / Seth Lewis +1 617 583 1308 About SkyePharma PLC Using its proprietary drug delivery technologies, SkyePharma develops newformulations of known molecules to provide a clinical advantage and life-cycleextension. The Group has ten approved products in the areas of oral, inhalationand topical delivery. The Group's products are marketed throughout the world byleading pharmaceutical companies. For more information, visitwww.skyepharma.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SKP.L