8th Feb 2007 10:48
Skyepharma PLC08 February 2007 For Immediate release 8 February 2007 SkyePharma PLC Announces Results of Shareholder Vote LONDON, UK, 8 February 2007 - SkyePharma PLC (LSE: SKP; Nasdaq: SKYE) announcesthe results of the voting by shareholders at the Extraordinary General Meetingheld earlier today. All of the resolutions proposed were passed: • Approval of the proposed sale of the Injectable Business to Blue Acquisition Corp (the "Disposal") • Authorisation of the Directors to allot the new Ordinary Shares in connection with the Placing to raise £14.8 million net of expenses • Disapplication of statutory pre-emption rights in relation to the Placing Good progress is being made with completing the various other conditions for theDisposal. The parties to the Disposal transaction have jointly concluded thatthe transaction is not subject to the notice provisions of the Hart-Scott-RodinoAnti-Trust Improvements Act of 1976 ("HSR") and that there are no HSR conditionsapplicable with respect to the Closing. The new Paul Capital agreements andconsents, which are subject to approval from Paul Capital's financial guarantyinsurer and note holders, are expected to be finalised shortly. It is expectedthat, once these agreements and consents are in place, the Disposal will becompleted, and the Placing, which is conditional upon the Disposal beingcompleted, will take place on the stock market trading day immediately followingthat completion. A further announcement will be made when the Disposal iscompleted. Forthcoming results announcement The announcement of the full year audited results for 2006 is scheduled to takeplace on 26 April 2007. Frank Condella, SkyePharma's Chief Executive, said: "I would like to thank shareholders for their support in passing theseresolutions. Following the Disposal, SkyePharma will be well funded and in agood position to build future value by further developing key products in theareas of oral and inhalation technologies." For further information please contact: SkyePharma PLC +44 (0)20 7491 1777Frank Condella, Chief Executive OfficerKen Cunningham, Chief Operating OfficerPeter Grant, Finance Director Buchanan Communications +44 (0)20 7466 5000Tim Anderson / Mark Court / Rebecca Skye Dietrich Trout Group (US) Seth Lewis +(1) 617-583-1308 Notes for editors About SkyePharma SkyePharma PLC develops pharmaceutical products benefiting from world-leadingdrug delivery technologies that provide easier-to-use and more effective drugformulations. The continuing business has nine approved products incorporatingSkyePharma's technologies in the areas of oral, inhaled and topical delivery,supported by advanced solubilisation capabilities. For more information, visitwww.skyepharma.com. These materials are not an offer for sale of securities in the United States.The securities in the placing have not been and will not be registered under theUS Securities Act of 1933 (the "Securities Act") and the securities may not besold in the United States absent registration or an exemption from registrationunder the Securities Act. The Company does not intend to register any portion ofsuch offering in the United States or to conduct a public offering of theordinary shares in the United States. The information contained herein does not constitute an offer to sell or thesolicitation of an offer to buy nor shall there be any sale of the securitiesreferred to herein in any jurisdiction in which such offer, solicitation or salewould be unlawful prior to registration, exemption from registration orqualification under the securities laws of any jurisdiction. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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