LONDON, Oct. 17, 2003 (PRIMEZONE) -- SkyePharma PLC ("the Company") (Nasdaq:SKYE) (LSE:SKP): As previously disclosed in the Company's Annual Report 2002, Mr Gowrie-Smith, Executive Chairman, had agreed in principle, subject to the satisfaction of certain conditions, to the transfer of ordinary shares to his wife in contemplation of a divorce settlement.
The Company was informed yesterday that the conditions have now been satisfied, the divorce settlement has been agreed to and 10,744,140 shares have been transferred for nil consideration with effect from 16 October 2003. Following the finalisation of the divorce in the near future, Mr Gowrie-Smith will cease to have a beneficial interest in these shares and his holding in SkyePharma PLC shares will then amount to approximately 1.38% of the issued share capital of the Company.
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