6th Jun 2005 07:00
Skyepharma PLC06 June 2005 NOT FOR RELEASE OR DISTRIBUTION OR PUBLICATION IN WHOLE OR PART IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN OR AUSTRALIA FOR IMMEDIATE RELEASE 6 June 2005 SkyePharma PLC 8.0% CONVERTIBLE BONDS DUE 2025 LONDON, UK, 6 June 2005 -- SkyePharma PLC (Nasdaq: SKYE; LSE: SKP) announcesthat it has completed the private placement of 8% convertible bonds due 2025first announced on 31 May 2005, raising £20 million before expenses. The privateplacement was conducted by Credit Suisse First Boston (Europe) Limited,SkyePharma's sole broker and financial adviser. The 8% convertible bonds have afirst put after 5 years with a final maturity of 2025 and have a conversionprice of 81 pence, being a premium of 50% to the volume-weighted average shareprice of SkyePharma on 27 May 2005. Application will be made to list the 8%convertible bonds on the London Stock Exchange. The two existing convertible bonds, due in June 2005 and May 2024, are notaffected by this transaction. For further information please contact: SkyePharma PLC +44 207 491 1777Michael Ashton, Chief Executive OfficerPeter Laing, Director of Corporate Communications +44 205 491 5124 Sandra Haughton, US Investor Relations +1 212 753 5780 Credit Suisse First Boston (Europe) LimitedFrank Heitmann +44 207 883 6737 Buchanan Communications +44 207 466 5000Tim Anderson / Mark Court Notes to Editors SkyePharma PLC develops pharmaceutical products benefiting from world-leadingdrug delivery technologies that provide easier-to-use and more effective drugformulations. There are now eleven approved products incorporating SkyePharma'stechnologies in the areas of oral, injectable, inhaled and topical delivery,supported by advanced solubilisation capabilities. For more information, visitwww.skyepharma.com. Except for the historical information herein, the matters discussed in this newsrelease include forward-looking statements that may involve a number of risksand uncertainties. Actual results may vary significantly based upon a number offactors, which are described in SkyePharma's 20-F and other documents on filewith the SEC. These include without limitation risks in obtaining andmaintaining regulatory approval for existing, new or expanded indications forits products, other regulatory risks, risks relating to SkyePharma's ability tomanufacture pharmaceutical products on a large scale, risks that customerinventory will be greater than previously thought, risks concerning SkyePharma'sability to manage growth, SkyePharma's marketing partners' ability to market apharmaceutical product on a large scale and manage their sales and marketingorganisation and maintain or expand sales and market share for its products,risks relating to the ability to ensure regulatory compliance, risks related tothe research, development and regulatory approval of new pharmaceuticalproducts, risks related to research and development costs and capabilities,market acceptance of and continuing demand for SkyePharma's products and theimpact of increased competition, risks associated with anticipated top andbottom line growth and the possibility that upside potential will not beachieved, competitive products and pricing, and risks associated with theownership and use of intellectual property rights. SkyePharma undertakes noobligation to revise or update any such forward-looking statement to reflectevents or circumstances after the date of this release. This announcement does not constitute an offer of securities for sale in anyjurisdiction, including the United States. The Bonds, the Guarantee of the Bondsand the Ordinary shares to be issued on conversion of the Bonds have not beenand will not be registered under the U.S. Securities Act of 1933, as amended(the "Securities Act") and may not be offered or sold in the United States or toor for the account or benefit of U.S. persons (as such terms are defined inRegulation S under the Securities Act) unless registered under the SecuritiesAct or pursuant to an exemption from registration. There will be no offer ofsecurities in the United States. In the United Kingdom this announcement is directed exclusively at persons whofall within Article 19 or 49 of the Financial Services and Markets Act 2000(Financial Promotion) Order 2001 or to whom this announcement may otherwise bedirected without contravention of Section 21 of the Financial Services andMarkets Act 2000. The bonds referred to in this announcement shall be issuedonly to such persons. Credit Suisse First Boston (Europe) Limited is acting solely for SkyePharma inconnection with the private placement referred to above and will not beresponsible to anyone other than SkyePharma for providing the protectionsoffered to clients of Credit Suisse First Boston (Europe) Limited or forproviding advice in relation to the private placement. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SKP.L