Annex DTR3

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons

All relevant boxes should be completed in block capital letters.

1.

Name of the issuer

Skyepharma PLC

2.

State whether the notification relates to (i) a

transaction notified in accordance with DTR 3.1.2 R,

(ii) a disclosure made in accordance

LR 9.8.6R(1) or

(iii) a disclosure made in accordance with section 793 of the Companies Act (2006).

Disclosure under (i) above





3.

Name of person discharging managerial

responsibilities/director

Peter Grant

4.

State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person

Shares held at Self Trade





5.

Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non beneficial interest 1

Self Trade

6.

Description of shares (including class), debentures or derivatives or financial instruments relating to shares

Ordinary Shares of £1 each





7.

Name of registered shareholders(s) and, if more than one, the number of shares held by each of them

L R Nominees A/C NOMINEE

8.

State the nature of the transaction

Transfer of 29,432 (0.028%) shares already held directly by P Grant into Self Trade account (no change of beneficial owner)





9.

Number of shares, debentures or financial instruments relating to shares acquired

N/A

10.

Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)

N/A





11.

Number of shares, debentures or financial instruments relating to shares disposed

N/A

12.

Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)

N/A

13.

Price per share or value of transaction

N/A

14.

Date and place of transaction

14 May 2014 London





15.

Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)

207,007 (0.198%)

16.

Date issuer informed of transaction

14 May 2014

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17.

Date of grant

18.

Period during which or date on which exercisable





19.

Total amount paid (if any) for grant of the option

20.

Description of shares or debentures involved (class and number)





21.

Exercise price (if fixed at time of grant) or

indication that price is to be fixed at the time of exercise

22.

Total number of shares or debentures over which options held following notification





23.

Any additional information

Shares now held through Self Trade

24.

Name of contact and telephone number for queries

J Murphy 020 7881 0524





Name of authorised official of issuer responsible for making notification

J Murphy, Group Counsel and Company Secretary

Date of notification 14 May 2014

Notes:   This form is intended for use by an issuer to make a RIS notification required by DR 3.3.

(1)

An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.

(2)

An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24.

(3)

An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.

(4)

An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.


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