SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a - 16 OR 15d - 16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of March, 2006
SkyePharma PLC
SkyePharma PLC, 105 Piccadilly, London W1J 7NJ England
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40F.
Form 20-F X Form 40-F
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- _______
For Immediate Release 14 March 2006
SkyePharma PLC
Agreement with Major Shareholders Over
Selection of Non-Executive Directors
LONDON, UK, 14 March 2006 - SkyePharma PLC (LSE: SKP; Nasdaq: SKYE) announces that following the Extraordinary General Meeting
("EGM") held on 9 March, at which a shareholder resolution to appoint a new director was not approved, the Company has reached
agreement with two of its major institutional investors over arrangements for the selection and appointment of two new independent
non-executive directors acceptable to both the Company and those institutions.
Dr Jerry Karabelas, SkyePharma's Non-Executive Chairman, said: "Although SkyePharma strives to maintain the highest standards of
corporate governance, there is always room for improvement. We have noted the level of dissatisfaction about certain issues among a
significant body of shareholders. We are happy to have reached agreement over a process that allows us to address these concerns to
the satisfaction of all. We can now concentrate on the primary task of execution of the Company's new corporate strategy, which we
believe will benefit all shareholders."
Anita Skipper, Head of Corporate Governance for Morley Fund Management, said: "The Company and its Board have taken the initiative in
looking to work constructively with shareholders following the EGM. We welcome the steps the Company has taken and look forward to
continuing the dialogue."
William Claxton-Smith, Director, Investor Responsibility at Insight Investment Management, said: "In light of this development, we
are happy that our initial aim of strengthening the Board of SkyePharma will be achieved. We will be fully supportive of the Company."
For further information please contact:
SkyePharma PLC +44 207 491 1777
Frank Condella, Chief Executive Officer
Peter Laing, Director of Corporate Communications +44 207 491 5124
Sandra Haughton, US Investor Relations +1 212 753 5780
Buchanan Communications +44 207 466 5000
Tim Anderson / Mark Court
Notes for editors:
About SkyePharma
SkyePharma PLC develops pharmaceutical products benefiting from world-leading drug delivery technologies that provide easier-to-use
and more effective drug formulations. There are now eleven approved products incorporating SkyePharma's technologies in the areas of
oral, injectable, inhaled and topical delivery, supported by advanced solubilisation capabilities. For more information, visit
www.skyepharma.com.
Certain statements in this news release are forward-looking statements and are made in reliance on the safe harbour provisions of the
U.S. Private Securities Litigation Act of 1995. Although SkyePharma believes that the expectations reflected in these forward-looking
statements are reasonable, it can give no assurance that these expectations will materialize. Because the expectations are subject to
risks and uncertainties, actual results may vary significantly from those expressed or implied by the forward-looking statements
based upon a number of factors, which are described in SkyePharma's 20-F and other documents on file with the SEC. Factors that could
cause differences between actual results and those implied by the forward-looking statements contained in this news release include,
without limitation, risks related to the development of new products, risks related to obtaining and maintaining regulatory approval
for existing, new or expanded indications of existing and new products, risks related to SkyePharma's ability to manufacture products
on a large scale or at all, risks related to SkyePharma's and its marketing partners' ability to market products on a large scale to
maintain or expand market share in the face of changes in customer requirements, competition and technological change, risks related
to regulatory compliance, the risk of product liability claims, risks related to the ownership and use of intellectual property, and
risks related to SkyePharma's ability to manage growth. SkyePharma undertakes no obligation to revise or update any such
forward-looking statement to reflect events or circumstances after the date of this release.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
SkyePharma PLC
By: /s/ Douglas Parkhill
Name: Douglas Parkhill
Title:
Company Secretary
Date: March 14, 2006