4th Sep 2008 12:09
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For Immediate Release |
04 September 2008 |
SkyePharma PLC ("the Company")
The Company was informed on 04 September 2008 that as a result of transactions on 03 September 2008 by the SkyePharma PLC Share Purchase Plan (an approved all employee share purchase plan) the Trustees of the Plan purchased an additional 44,316 Ordinary Shares of the Company at a price of 3.25 pence per share.
Following these transactions, the Trustees hold on behalf of the Plan, 317,724 Ordinary Shares representing 0.03% of the share capital of the Company. The class of discretionary beneficiaries for whom the Trustees hold such shares consists of employees of the Company, including the following Executive Directors: Frank Condella and Peter Grant.
As a result of these transactions, the following Executive Directors have the following additional interests as a result of their personal participation in the Plan:-
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Partnership Shares purchased on 03 September 2008 at 3.25p per share |
Matching Shares awarded on 03 September 2008 at 3.25p per share |
Total number of Partnership and Matching Shares held on 03 September 2008 |
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Frank Condella |
3,847 |
3,847 |
54,860 |
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Peter Grant |
3,847 |
3,847 |
47,488 |
In accordance with the rules of the Plan these Directors have been awarded Matching Shares on the basis of one Matching Share (Ordinary Share) for each Partnership Share (Ordinary Share).
The beneficial ownership of the Matching Shares will pass to the Directors in three years' time subject to continued employment and the retention of the underlying Partnership Shares.
The execution of the transaction noted above did not involve any of the Company's Directors or any persons discharging managerial responsibility.
This notification relates to transactions notified in accordance with Disclosure and Transparency Rule 3.1.4R(1)(a).
Related Shares:
SKP.L