19th Sep 2008 12:39
SkyePharma PLC - General Meeting Results
LONDON, UK, 19 September 2008 - SkyePharma PLC (LSE: SKP) announces the results of the voting by shareholders at the General Meeting held earlier today. All resolutions were passed on a show of hands.
Accordingly the Share Capital Reorganisation will take effect from close of business today, 19 September 2008 and dealings in the Ordinary Shares in consolidated form will commence on Monday 22 September 2008. Under the Share Capital Reorganisation shareholders will, in effect, receive one Consolidated Ordinary Share of £1.00 for every 100 Existing Ordinary Shares.
Apart from the change in nominal value, the Consolidated Ordinary Shares arising on implementation of the Share Capital Reorganisation will have the same rights as the Existing Ordinary Shares, including voting, dividend and other rights.
Resolutions 3, 4, 5, 6 and 7 are also interconditional upon the approval of the Bond Resolutions (as defined in the announcement of 1 September 2008). In respect of the 2025 Bonds, irrevocable undertakings have been received from 100 per cent of the holders of the outstanding 2025 bonds to consent to sign the 2025 Bond Resolution. Currently over 72 per cent of the 2024 Bondholders have given support through irrevocable undertakings or votes in favour of the 2024 Bond Resolution with no votes cast against. The effectiveness of the 2024 Bond Resolution is conditional on the 2025 Bond Resolution being passed, and vice versa.
The 2024 Bondholder meeting will take place at 10.00 am on Thursday 25 September and a further announcement will be released shortly after that meeting.
Two copies of all resolutions passed at this morning's meeting will be submitted later today to the UK Listing Authority's Document Viewing Facility which is situated at:
25 The North Colonnade
Canary Wharf
London
E14 5HS
Full details of the proxy voting will be available on the SkyePharma website (www.skyepharma.com) later today.
For further information please contact:
|
SkyePharma PLC |
Ken Cunningham |
+44 20 7491 1777 |
|
During office hours |
Peter Grant |
|
|
Financial Dynamics (UK Enquiries) |
David Yates |
+44 20 7831 3113 |
|
Outside office hours |
Ben Brewerton |
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|
Trout Group (US Enquiries) |
Christine Labaree |
+1 617 583 1308 |
|
Seth Lewis |
About SkyePharma PLC
Using its proprietary drug delivery technologies, SkyePharma develops new formulations of existing products to provide a clinical advantage and life-cycle extension. The Company has twelve approved products in the areas of oral, inhalation and topical delivery. The Group's products are marketed throughout the world by leading pharmaceutical companies. For more information, visit www.skyepharma.com
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