TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi



1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
attached:
ii

Skyepharma PLC

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights


An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached


An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments


An event changing the breakdown of voting rights


Other (please specify): Increase in total number of voting rights in the issuer as a result of the issuance of ordinary shares pursuant to a mandatory conversion of convertible bonds

X

3. Full name of person(s) subject to the
notification obligation:
iii

OrbiMed Advisors LLC and OrbiMed Capital LLC

4. Full name of shareholder(s)
(if different from 3.):iv

OrbiMed Partners Master Fund Limited

OrbiMed Partners II, L.P.

Summer Street Life Sciences Hedge Fund Investors LLC

5. Date of the transaction and date on
which the threshold is crossed or
reached:
v

8 March 2014

6. Date on which issuer notified:

21 March 2014

7. Threshold(s) that is/are crossed or
reached:
vi, vii

From 5% to 4%



8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of
shares


if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of  voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GB00B3BFNB64

2,683,952

2,683,952



1,912,555


4.15%


B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date
xiii

Exercise/
Conversion Period
xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights







C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date xvii

Exercise/
Conversion period
xviii

Number of voting rights instrument refers to

% of voting rights xix, xx






Nominal

Delta




Total (A+B+C)

Number of voting rights

Percentage of voting rights

1,912,555

4.15%



9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:
xxi


Proxy Voting:

10. Name of the proxy holder:


11. Number of voting rights proxy holder will cease
to hold:


12. Date on which proxy holder will cease to hold
voting rights:




13. Additional information:

OrbiMed Advisors LLC and OrbiMed Capital LLC (together 'OrbiMed') are affiliated investment advisers registered with the U.S. Securities and Exchange Commission. OrbiMed acts as investment manager or investment adviser for the funds and accounts listed in Item 4, which beneficially own the shares that are the subject of this notification.

14. Contact name:

John Murphy

15. Contact telephone number:

020 7881 1174


This information is provided by RNS
The company news service from the London Stock Exchange
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