SKP.L Regulatory News (SKP)

14 Nov 2006 07:03

Skyepharma PLC14 November 2006 For Immediate Release 14 November, 2006 SkyePharma PLC SKYEPHARMA APPOINTS NEW FINANCE DIRECTOR LONDON, ENGLAND, 13 November 2006 - SkyePharma PLC (LSE: SKP; Nasdaq: SKYE)announces today that Mr. Donald Nicholson is standing down as Finance Directorwith immediate effect and will be leaving the Company to pursue a new phase inhis career. Mr. Peter Grant has been appointed Finance Director in his place. Peter, 51, is a Chartered Accountant with a MA (Hons), Mathematics from OxfordUniversity. He qualified with the firm of Peat, Marwick, Mitchell & Co. in 1979.With over 25 years of finance and management experience in UK companies,including nine years at listed company board level, Peter brings extensiveexperience as a Finance Director at Molins PLC, Worldpay Group PLC and EurodisElectron PLC where he worked as Group Finance Director until January 2005. Mostrecently, Peter had been interim CEO at Voice Commerce Group, a position he helduntil May 2006. Donald joined SkyePharma in February 1996 and was appointed Finance Director inMarch 1997. Jerry Karabelas, Chairman of SkyePharma, said: "On behalf of the whole Board and staff, I would like to thank Donald for hissignificant contribution and commitment to the Company over the past ten years.We wish him well for the future. "We are very pleased to have recruited someone of Peter's calibre to fill thekey role of Finance Director. He has played a significant role in streamliningoperations, developing new business activities and financing initiatives. Hewill join our new management team of Frank Condella, CEO and Ken Cunningham, COOand will be of great assistance in moving the Company forward through thisimportant stage in its development." Disclosure under section 9.6.13 of the Listing Rules: Mr Grant resigned from the board of Eurodis Electron PLC in January 2005 forfamily health reasons. In March 2005 a major franchiser gave notice oftermination of its relationship with the group, and in July 2005 the leadfinance provider reduced the facilities and the company went intoadministration. There are no other disclosures under section 9.6.13 of the Listing Rules. For further information please contact: SkyePharma PLC UK + 44 207 491 1777Frank Condella, Chief Executive OfficerKen Cunningham, Chief Operating Officer Buchanan Communications UK + 44 207 466 5000Tim Anderson / Mark Court / Rebecca Skye Dietrich The Trout Group US + 1 617 583 1308Seth Lewis Notes for editors About SkyePharma SkyePharma PLC develops pharmaceutical products benefiting from world-leadingdrug delivery technologies that provide easier-to-use and more effective drugformulations. There are now eleven approved products incorporating SkyePharma'stechnologies in the areas of oral, injectable, inhaled and topical delivery,supported by advanced solubilisation capabilities. For more information, visitwww.skyepharma.com. Certain statements in this news release are forward-looking statements and aremade in reliance on the safe harbour provisions of the U.S. Private SecuritiesLitigation Act of 1995. Although SkyePharma believes that the expectationsreflected in these forward-looking statements are reasonable, it can give noassurance that these expectations will materialize. Because the expectations aresubject to risks and uncertainties, actual results may vary significantly fromthose expressed or implied by the forward-looking statements based upon a numberof factors, which are described in SkyePharma's 20-F and other documents on filewith the SEC. Factors that could cause differences between actual results andthose implied by the forward-looking statements contained in this news releaseinclude, without limitation, risks related to the development of new products,risks related to obtaining and maintaining regulatory approval for existing, newor expanded indications of existing and new products, risks related toSkyePharma's ability to manufacture products on a large scale or at all, risksrelated to SkyePharma's and its marketing partners' ability to market productson a large scale to maintain or expand market share in the face of changes incustomer requirements, competition and technological change, risks related toregulatory compliance, the risk of product liability claims, risks related tothe ownership and use of intellectual property, and risks related toSkyePharma's ability to manage growth. SkyePharma undertakes no obligation torevise or update any such forward-looking statement to reflect events orcircumstances after the date of this release. This information is provided by RNS The company news service from the London Stock Exchange