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Prospect News home > News index > List of issuers S > Headlines for SkyePharma plc > News item
Published on 6/12/2006 in the Prospect News Biotech Daily and Prospect News PIPE Daily.

SkyePharma reduces conversion price on £20 million in convertible bonds

By Sheri Kasprzak

New York, June 12 - SkyePharma (Jersey) Ltd. has lowered the conversion price on £20 million in convertible bonds.

The reduction became mandatory after the company's stock traded at less than 75% of the prevailing conversion price.

The bonds will now be convertible at 58p each, dropped from 77p.

The 8% bonds are due in 2025.

Located in London, SkyePharma develops controlled-release prescription pharmaceuticals.

On Friday, the stock closed at 32p (London: SKP).


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