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Home Industry News SkyePharma announces additional share purchase

SkyePharma announces additional share purchase

7th July 2008

SkyePharma has announced the results of recent transactions as part of its approved all employee share purchase plan.

As a result of transactions on July 2nd 2008 by the company, the trustees of the plan have acquired an additional 12,018 ordinary shares of the company.

These shares were acquired at a price of 5.99 pence per share.

As a result of these transactions on behalf of the plan, trustees hold a total of 250,102 ordinary shares in the firm, equal to 0.03 per cent of the share capital of SkyePharma.

Executive directors Frank Condella and Peter Grant are among the employees in the class of discretionary beneficiaries for whom the trustees hold such shares and now have additional interest as a result of their personal participation in the plan.

“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),” SkyePharma said.

It added that beneficial ownership of these shares will pass to the directors concerned in three years time, subject to their continued employment at the company and their retention of the partnership shares underlying the matching shares.

In March 2008, SkyePharma announced revenues from continuing operations of 41.6 million pounds.

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