AVECHO BIOTECHNOLOGY LIMITED — Director's Dealing 2013

Apr 8, 2013

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ASX Limited Market Announcements Office 5 April 2013

Phosphagenics Limited

Change of Director’s Interest Notice

Attached is an Appendix 3Y Notice covering the change in the entitlement of Mr S B James to non-quoted options (POHAU) which expired on 31 March 2013 and which were not exercised.

Ends

Enquiries: Mourice Garbutt Company Secretary Phosphagenics Limited +61 3 9605 5917

About Phosphagenics

Phosphagenics Limited is commercialising drug delivery applications based on its novel transdermal (drugs administered via skin) TPM[®] – Targeted Penetration Matrix technology. TPM[®] is a patient friendly and cost effective system used to deliver proven pharmaceutical and nutraceutical products.

The lead product advancing through clinical trials is an oxycodone and oxymorphone matrix system for the relief of chronic pain.

Phosphagenics’ shares are listed on the Australian Securities Exchange (POH) and its ADR – Level 1 program in the US is with The Bank of New York Mellon (PPGNY).

www.phosphagenics.com www.elixia.com.au

Phosphagenics Limited ACN 056 482 403 ABN 32 056 482 403

11 Duerdin Street, Clayton VIC 3168 PO Box 1415, Clayton South MDC VIC 3169 Australia Tel: +61 (0)3 9565 1119 Fax: +61 (0)3 9565 1151

Web: www.phosphagenics.com Email: info@phosphagenics.com

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Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity PHOSPHAGENICS LIMITED ABN 32 056 482 403

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director JAMES, Stuart Bruce

Date of last notice 3 May 2012 (3Y)

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “ notifiable interest of a director ” should be disclosed in this part.

Direct or indirect interest	REFER ANNEXURE “A”
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevant interest.	REFER ANNEXURE “A”
Date of change	REFER ANNEXURE “A”
No. of securities held prior to change	REFER ANNEXURE “A”
Class	REFER ANNEXURE “A”
Number acquired	REFER ANNEXURE “A”
Number disposed	REFER ANNEXURE “A”
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	REFER ANNEXURE “A”
No. of securities held after change	REFER ANNEXURE “A”
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue of securitiesunder dividend reinvestment plan, participation in buy-back	REFER ANNEXURE “A”

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “ notifiable interest of a director ” should be disclosed in this part.

	Part 2 – Change of director	s interests in contracts
	Note: In the case of a company, interests whicthis part.	h come within paragraph (ii) of the definition of“notifiable int		erest of a direct	or”should be disclosed	in
	Detail of contract		RE	FER ANN	EXURE “A”
					“”
	Nature of interest		RE	FER ANN	XURE A
	Name of registered holder		RE	FER ANN	EXURE “A”
	(if issued securities)
					“”
	Date of change		RE	FER ANN	XURE A
	N d l f iti	t hih itt ltd i t	RE	FER ANN	XURE “A”
	o. an cass o secureschange	o wc neres reae pror o
	Note: Details are only required for a contract	in relation to which the interest has changed
	Interest acquired		RE	FER ANN	EXURE “A”
	Interest disposed		RE	FER ANN	EXURE “A”
	Value/Consideration		RE	FER ANN	EXURE “A”
	Note: If consideration is non-cash, provide d	etails and an estimated valuation
	Interest after change		RE	FER ANN	EXURE “A”
	+
	art 3 –Closed period
	Were the interests in the	securities or contracts detailed	NO	– the 31	March 2013 op	tions to which
	above traded during a+cl	osed period where prior written	Mrx	Jamesriri	had an entitl f$014	ement at an2wrnt
	clearance was required?		eexe	cseprcised and	eo. automaticallyl	eeo apsed.
	If so, was prior written clea	rance provided to allow the trade	NO	T APPLIC	ABLE
	to proceed during this perio	d?
	If prior written clearance wa	s provided, on what date was this	NO	T APPLIC	ABLE
	provided?
	p\asx\3Y sjb 05 04 13

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

ANNEXURE “A” Appendix 3Y

2 APRIL 2013

Schedule of Director’s Interest	Schedule of Director’s Interest
DIRECTOR: JAMES, Stuart Bruce
		Previous	Current
		Appendix 3Y	Appendix	3Y
		03 05 2012	02 04 2013
(A)	ORDINARY SHARES	Nil		Nil
(B)	UNQUOTED OPTIONS
	SELF
	March 2013 Options -$0.142 exercise price	2,400,000		Nil
(C)	CONDITIONAL RIGHTS
1	SELF	350,000	350,000
2	PHOSPHAGENICS LIMITED –
	NO. RIGHTS ON ISSUE	19,050,000	16,950,000
3	PERCENTAGE INTEREST IN RIGHTS	1.84%	2.06%

Arising from the resolutions of shareholder at the 2011 Annual General Meeting the Company has now given formal effect to the shareholders resolution that Mr James be granted 350,000 Conditional Rights per the terms set out in the Annual General Meeting Notice of Meeting/Explanatory Memorandum.

Should the milestones associated with the Rights be achieved Mr James will be entitled to exercise the Rights and be issued with one new ordinary share for each Right exercised.

		Previous	Current
Movements:
A	Shares– no change	Nil	Nil
B	Unquoted Options– not exercised and lapsed on 31	2,400,000	Nil
	March 2013
C	Conditional Rights– no change	350,000	350,000

Comment:

Mr James is the legal and beneficial owner of the 350,000 Conditional Rights registered in his name.

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3