23rd Sep 2008 15:25
NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN OR NEW ZEALAND
This document is not a prospectus but an advertisement. Investors should not subscribe for any transferable securities of the Company except on the basis of information in a prospectus.
FOR IMMEDIATE RELEASE
SkyePharma Bond Proposals and Placing and Open Offer Expected to be Finalised on 25 September 2008
LONDON, UK, 23 September 2008 - SkyePharma PLC (LSE: SKP) announces that the Board expects that the resolution to be put to the 2024 Bondholders meeting to be held on 25 September 2008 will be approved. Capitalised terms used in this announcement shall have the meanings given to them in the Prospectus dated 1 September 2008 in relation to the Placing and Open Offer.
The meeting of SkyePharma (Jersey) Limited's 2024 Bondholders will be held at 10.00 am on 25 September 2008. By the deadline for submitting electronic voting instructions and appointing proxies and corporate representatives, being 10am today, sufficient votes have been cast electronically to ensure that the meeting will be quorate and to approve the 2024 Bondholder Resolution at the meeting.
Given that the necessary consents have already been obtained from SkyePharma PLC shareholders and from the 2025 Bondholders (both conditional on the passing of the 2024 Bond Resolution), the approval of the 2024 Bond Resolution will, subject to the conditions of the Placing Agreement dated 1 September 2008 and receipt by SkyePharma PLC of the proceeds of the Placing and Open Offer, enable the Transactions to be completed in accordance with the timetable as set out in the Prospectus. Accordingly, the Consolidated New Ordinary Shares to be issued pursuant to the Placing and Open Offer are expected to be admitted to the Official List and to commence trading on the London Stock Exchange on 26 September 2008 and the Bond Proposals will be implemented on or around 1 October 2008.
Further announcements will be made as appropriate.
For further information please contact:
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SkyePharma PLC |
Ken Cunningham |
+44 20 7491 1777 |
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During office hours |
Peter Grant |
|
|
Financial Dynamics (UK Enquiries) |
David Yates |
+44 20 7831 3113 |
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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
Some of the information in these materials may contain projections or other forward-looking statements regarding future events or the future financial performance of the Company. You can identify forward looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could," "may" or "might" the negative of such terms or other similar expressions. The Company wishes to caution you that these statements are only predictions and that actual events or results may differ materially. The Company does not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of the Company, including, among others, general economic conditions, the competitive environment, risks associated with its operations, rapid technological and market change in the industries the Company operates in, as well as many other risks specifically related to the Company and its operations.
Neither these materials nor any copy of them may be taken or transmitted, directly or indirectly, into the United States, Australia, Canada, Hong Kong, Japan or New Zealand. These materials do not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, any contract therefor. The distribution of these materials in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
These materials are not an offer for sale of any securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The Company has not registered and does not intend to register any portion of any offering in the United States or to conduct a public offering of any securities in the United States.
This communication is directed only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
This communication is distributed in any member state of the European Economic Area which applies Directive 2000/71/EC (this Directive together with any implementing measures in any member state, the "Prospectus Directive") only to those persons who are investment professionals for the purposes of the Prospectus Directive in such member state, and such other persons as this document may be addressed on legal grounds, and no person that is not a relevant person may act or rely on this document or any of its contents.
Related Shares:
SKP.L