SYNTARA LIMITED — Major Shareholding Notification 2011

Mar 15, 2011

16-MAR-2011				16:04 FROM Fisher Funds Management	TO.	ASX Company Ann	P.01
						fisher funds $\hat{\bullet}$
tax
То				The Manager, Company Announcements, ASX (0800 449 707)
From		Glenn Ashwell
Subject				PXS - Form 603 Notice of Initial Substantial Holder
Date		16 March 2011
(incl. this sheet).	No. 8

Dear Sir or Madam

Please find attached the above notice regarding Fisher Funds Management Ltd's interests in Pharmaxis Limited. A copy of this notice has also been sent to the company.

Please feel free to contact me if you have any questions.

Kind regards

Glenn Ashwell General Manager

Fisher Funds Management Limited Tel +64 9 445 3377 Fax +64 9 489 7139 Freephone 0508 FISHER (0508 347 437) Level 2, 95 Elurstmere Road, PO Box 33 549 Takapuna Auckland 0740, New Zealand www.fisherfunds.co.nz

Form 603 Corporations Act 2001

Section 671B

Notice of initial substantial holder

To Company Name/Scheme	Pharmaxis Limited
ACN/ARSN	082 811 620
1. Details of substantial holder (1)Name	Fisher Funds Management Limited (and associates as set out in Section 6)
ACN/ARSN (if applicable)	N/A
The holder became a substantial holder on	15 March 2011

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
IOrdinary	11.425.712	11.425.712_________	5 0 1%
	_______________________________________

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
Fisher Funds Management Ltd	Ability to influence the voting anddisposal of the shares in its capacity asManager of the Fisher Funds AustralianGrowth Fund, Fisher Funds PremiumAustralian Fund, Barramundi Limited.The Fisher Funds KiwiSaver Schemeand as the entity that can instruct thelcustodian.	Ordinary shares11.425.712

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevantinterest	Registered holder ofsecurities	Person entitled to beregistered as holder (8)	Class and numberof securities
Fisher Funds Management Ltd	Executor Trustees NSWlAustLtd	Refer Annexure A	Ordinary shares11,054.349
Fisher Funds Management Ltd	Cogent Nominees Pty Ltd	Refer Annexure A	Ordinary shares371 363

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevantinterest	Date of acquisition	Consideration (9)	Class and numberof securities
FisherManagementFundsLimited	Refer Annexure B	Cash	Ordinary shares11.425.712

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
Fisher Funds Management Ltd	Manager of the Fisher Funds Australian Growth Fund (a New Zealand RegisteredUnit Trust), Fisher Funds Premium Australian Fund (a New Zealand Registered UnitTrust), Barramundi Limited (a New Zealand listed company) and The Fisher FundsKiwiSaver Scheme (a New Zealand Registered Superannuation Scheme).

7. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Fisher Funds Management LtdAttn: Glenn Ashwell	Level 2, 95 Hurstmere Rd, Takapuna, Auckland, New Zealand.Phone +64 9 484 0345 (DDI)
Aust Executor Trustees NSW Ltd <teaICustodians Limited></tea	Locked Bag 4010 Queen Victoria Building Post Office Sydney, NSW 1230
Cogent Nominees Pty Ltd	Level 6, 60 Castlereagh Street, Sydney NSW 2000

Signature

	print name Glenn Ashwell	capacity	General Manager
sign here	- 11	date	16/03/2011

Annexure A - Persons entitled to be Registered Holders

Name	Address
Trustees Executors Limited as trustee of the Fisher Funds Australian GrowthFund (Fisher Funds Management Ltd is the Manager), the Fisher FundsPremium Australian Fund (Fisher Funds Management Ltd is the Manager) andThe Fisher Funds KiwiSaver Scheme (a New Zealand RegisteredSuperannuation Scheme) *	Level 12, 45 Queen Street, Auckland, New Zealand
Barramundi Limited (Fisher Funds Management Ltd is the Manager of theassets) *	Level 2, 95 Hurstmere Rd, Takapuna, Auckland, New Zealand.
Aust Executor Trustees NSW Ltd	Locked Bag 4010 Queen Victoria Building Post Office Sydney, NSW 1230
Cogent Nominees Pty Ltd	Level 6, 60 Castlereagh Street, Sydney NSW 2000

* Each entity being a New Zealand registered and operated entity.

$\sim 10^7$

Annexure B - Details of Transactions and Consideration

Date	Quantity	Consideration
11 September 2007 Total	1,000,000	-$4,116,400.00
12 September 2007 Total	50,000	-$195,985. 82
13 September 2007 Total	100,000	$-$ $394,572.00
14 September 2007 Total	90,000	$-4361,909.87$
11 October 2007 Total	1,000,000	$-$3,907,800.00$
16 October 2007 Total	203,329	-$798,053.56
25 October 2007 Total	171,201	$-$ $698,286.08
26 October 2007 Total	257,000	$-$ $1,044,525.66
29 October 2007 Total	200,000	-$843,360.00
30 October 2007 Total	5,320	-$22,219.72
5 November 2007 Total	5,000	$-$20,833.00$
9 November 2007 Total	8,500	$-$ $37,017.93
14 November 2007 Total	55,700	$-$ $237,768.28
15 November 2007 Total	21,003	$-$ $88,333.50
16 November 2007 Total	167,000	-$687,958.57
27 November 2007 Total	72,405	-$299,501.83
29 November 2007 Total	123,843	-$512,249.22
4 December 2007 Total	10,000	-$41,164.00
5 December 2007 Total	70,503	- $291,237.85
10 December 2007 Total	485,322	-$2,012,397. 38
12 December 2007 Total	20,000	-$82, 428.40
14 December 2007 Total	74,722	$-$ $306,280.28
17 December 2007 Total	49,453	$-$ $200,336.06
9 January 2008 Total	50,000	$-$ $196,784.00
11 January 2008 Total	50,000	$-$ $193,270.00
18 January 2008 Total	50,000	-$165,43 4.10
22 January 2008 Total	30,000	-$86,899.21
25 January 2008 Total	10,000	-$33,132.00
30 January 2008 Total	8,000	$-$ $25,406.02
31 January 2008 Total	10,000	$-$ $31,314.76
13 February 2008 Total	10,000	$-$ $30,088.05
14 February 2008 Total	9,000	$-$ $26,424.88
15 February 2008 Total	26,282	$-$ $72,842.03
18 February 2008 Total	62,007	-$178, 734.19
19 February 2008 Total	17,000	-$50,179.92
20 February 2008 Total	20,993	-$61,896.74
27 February 2008 Total	16,167	$-$ $43,013.92
29 February 2008 Total	83,028	-$213, 368.54
4 March 2008 Total	93,400	-$229,257.70
5 March 2008 Total	106, 600	-$255,439.91
11 April 2008 Total	70,000	$-$ $161,545.61
15 April 2008 Total	78,849	-$176,219.94
23 April 2008 Total24 April 2008 Total	650,000	$-41,050,816.52$
15 May 2008 Total	208,000	-$329,885 .48
20 May 2008 Total	617,779	-$992,338.16
26 May 2008 Total	194,00630,000	$-$ $311,651.24-$43,674.0 0

$\sim$

27 May 2008 Total	55,953	$-$ $81,400.25
11 June 2008 Total	34, 079	$-$ $53,636.14
12 June 2008 Total	253,921	-$393,801 .88
13 June 2008 Total	150,000	-$226,080.72
16 June 2008 Total	130,691	$-$199,759.84$
17 June 2008 Total	34,253	-$53,724.08
24 June 2008 Total	150,000	-$231,035.46
30 June 2008 Total	5,913	-$8, 904.98
1 July 2008 Total	106,000	-$161, 764.48
3 July 2008 Total	100,260	-$140,925.46
7 July 2008 Total	1,193	$-$ $1,676.88
8 July 2008 Total	173,729	-$244,193.48
25 July 2008 Total	50,000	$84,661.99
1 August 2008 Total	50,000	$85,656.00
8 August 2008 Total	100,000	$183,130.04
11 August 2008 Total	178,579	$339,579.26
13 August 2008 Total	150,000	$288,342.00
25 August 2008 Total	10,041	$20,201.69
27 August 2008 Total	7,586	$15,219.84
28 August 2008 Total	132,373	$272,877.74
1 September 2008 Total	125,000	$280,261.95
3 September 2008 Total	18,589-	$43,772.32
5 September 2008 Total	38,460۰	$88,870.29
8 September 2008 Total	92,951	$220,208.88
11 September 2008 Total	50,000	$-$111,444.00$
16 September 2008 Total	4,076	$-$ $8,103.38
17 September 2008 Total	4,076	$8,931.33
18 September 2008 Total	100,000$\overline{\phantom{a}}$	$200,275.68
24 September 2008 Total	26,535٠	$56,523.43
25 September 2008 Total	43,465	$93,041.32
6 October 2008 Total	3,445	$8,193.06
10 October 2008 Total	61,687	-$114,5 77.43
16 October 2008 Total	292,810	-$456, 668.80
20 October 2008 Total	448,000	-$688,181.76
21 October 2008 Total	41,000	$69,421.20
22 October 2008 Total	12,936	$21,903.24
23 October 2008 Total	46,064	$78,903.99
24 October 2008 Total	449,722	-$703,102.99
4 November 2008 Total	60,560	$102,890.04
18 November 2008 Total	50,000	-$67,770.00
19 November 2008 Total	50,000	-$62,750.00
9 December 2008 Total	75,000	-$86,595.00
10 December 2008 Total	70,000	$-$ $80,420.42
16 December 2008 Total	20,788	-$22,947.84
17 December 2008 Total	40,777	-$45,034.12

1,500

13,500

7,362

75,000

$$2,107.77$

$19,109.11

$10,388.70

$107,364.37

$\overline{\phantom{a}}$

$\mathbb{Z}^d$

$\ddot{\phantom{a}}$

$\overline{\phantom{a}}$

22 December 2008 Total

23 December 2008 Total

5 January 2009 Total

14 January 2009 Total

23 January 2009 Total	38,033	$58,715.35
27 January 2009 Total	15,131	$23,359.24
28 January 2009 Total	1,716	$2,649.16
9 February 2009 Total	45,025	$-$ $51,533.81
10 February 2009 Total	85,000	$-$ $98,567.70
17 February 2009 Total	75,000	-$94,125.00
20 February 2009 Total	75,000	-$90,360.00
23 February 2009 Total	64,118	$-$ $75,285.94
24 February 2009 Total	49,933	-$57,667.79
23 March 2009 Total	11,804	$17,336.56
24 March 2009 Total	24,196	$36,148.82
27 March 2009 Total	29,961	$44,164.91
30 March 2009 Total	34,039	$50,854.27
31 March 2009 Total	26,000	$44,131.96
1 April 2009 Total	174,000	$298,030.89
2 April 2009 Total	77,233	$138, 894.09
3 April 2009 Total	90,000	$170,316.00
6 April 2009 Total	100,000	$192,925.25
8 April 2009 Total	3.118	$6,242.11
9 April 2009 Total	100,000	$214,140.00
14 April 2009 Total	13,832	$29,805.83
22 April 2009 Total	8,500	$17, 439.96
23 April 2009 Total	91,500	$189,476.70
29 April 2009 Total	113,215	$246,949.09
30 April 2009 Total	41,684	$90,902.05
1 May 2009 Total	20,101	$43,418.67
5 May 2009 Total	100,000	$278,880.00
3 June 2009 Total	740,000	$-$ $1,739,000.00
5 June 2009 Total	25,257	$-564, 155.81$
9 June 2009 Total	24,743	$-$ $62,512.34
10 June 2009 Total	50,000	$-$ $125,921.68
11 June 2009 Total	64,000	$-$164,707.40$
12 June 2009 Total	36,000	-$92,167.20
22 June 2009 Total	20,000	$-$50,200.00$
23 June 2009 Total	67,000	-$157,055.72
30 July 2009 Total	3,095	$-57,364.49$
31 July 2009 Total	9,202	-$22,173.14
3 August 2009 Total	53,913	-$129,827.57
6 August 2009 Total	1,661	-$3,968.99
10 August 2009 Total	29,638	-$70,820.59
11 August 2009 Total	70,362	-$168,131.41
13 August 2009 Total	140,000	$336,866.10
18 August 2009 Total	42,000	$97,336.40
19 August 2009 Total	43,000	-$100,642.57
24 August 2009 Total	22,500	$-$ $52,207.75
25 August 2009 Total	12,500	-$28,627.81
26 August 2009 Total	27,398	-$64,043.17
31 August 2009 Total	72,602	-$166, 347.76
3 September 2009 Total	65,000	$-153, 145.64$

10-MAR-401110.00	rkum risner runds management
4 September 2009 Total	5,000	-$11, 797.00
22 September 2009 Total	73,252	$-$ $174,301.67
23 September 2009 Total	28,214	$-$ $67,134.64
24 September 2009 Total	18,534	$-$ $44,101.28
25 September 2009 Total	37,409	-$89,013.97
28 September 2009 Total	26,926	$-$ $63,765.21
9 October 2009 Total	50,000	$-$115,615.62$
16 October 2009 Total	200,000	$-$ $481,920.00
3 December 2009 Total	50,000	$141,631.20
7 December 2009 Total	50,000	$145,017.60
12 January 2010 Total	50,000	$-$ $138,050.00
15 January 2010 Total	137,586	$405,337.77
18 January 2010 Total	12,414$\blacksquare$	$36,194.14
27 January 2010 Total	22,630	$-$ $60,436.58
28 January 2010 Total	17,370	$-$ $46,389.02
1 February 2010 Total	34,037	-$87,1 41.53
2 February 2010 Total	59,606	$-4152,711.00$
3 February 2010 Total	6,357	$-516,275.19$
8 February 2010 Total	2,729	$-46,740.19$
9 February 2010 Total	47,271	-$115,679.21
11 February 2010 Total	15,500	$-538,699.58$
12 February 2010 Total	34,500	-$86,078.89
8 March 2010 Total	50,000	-$127,427.68
9 March 2010 Total	50,000	$-$127,006.00$
11 March 2010 Total	11,097	$-$ $28,076.30
17 March 2010 Total	150,000	$-$ $391,560.00
16 April 2010 Total	75,000	$216,630.00
21 April 2010 Total	77,397$\ddot{\phantom{0}}$	$250,056.15
22 April 2010 Total	5,000	$16,185.00
23 April 2010 Total	17,603	$56,104.28
14 May 2010 Total	100,000	$327,146.16
17 May 2010 Total	5,000	$16,434.00
4 June 2010 Total	25,000	-$7 6,050.49
7 June 2010 Total	15,000	$-444,777.90$
8 June 2010 Total	65,700	-$192,314.54
30 June 2010 Total	50,000	-$104,91 8.00
7 July 2010 Total	5,000	$10,190.60
9 July 2010 Total	30,000	$-561,143.60$
2 August 2010 Total	65,214	$-$ $140,260.24

29,786

73,000

88,510

18,611

100,000

100,000

96,250

100,000

41,941

40,956

$-$ $64,242.24

$-156,844.88$

$-$175,639.78$

$-$ $36,522.57

$-$ $201,804.00

$-$ $200,800.00

$-$188,436.41$

$-5199,775.92$

$-482,279.19$

$97,921.62

6 August 2010 Total

9 August 2010 Total

18 August 2010 Total

27 August 2010 Total

30 August 2010 Total

1 September 2010 Total

8 September 2010 Total

14 September 2010 Total

15 September 2010 Total

6 October 2010 Total

7 October 2010 Total	59,044	$141,909.16
11 October 2010 Total	100,000	$267,426.00
2 November 2010 Total	56,218	$-$ $156,911.18
15 November 2010 Total	22,500	$-$ $61,670.70
16 November 2010 Total	10,907	$-$ $29,347.68
17 November 2010 Total	60,121	-$157,452.93
19 November 2010 Total	4,135	$-$ $11,126.13
9 December 2010 Total	65,000	$194,970.98
10 December 2010 Total	35,000-	$104,513.77
20 December 2010 Total	9,176	$-525,334.94$
19 January 2011 Total	50,000	-$147,979.56
20 January 2011 Total	20,489	-$59,861 .48
25 January 2011 Total	62,838	$-4183,407.06$
27 January 2011 Total	13,686	-$37,780.18
1 February 2011 Total	50,000	-$133,030.00
2 February 2011 Total	50,000	$-$ $138,240.76
4 February 2011 Total	50,000	-$133,014.94
11 February 2011 Total	50,000	$-$132,528.00$
14 February 2011 Total	12,282	-$32,430.87
16 February 2011 Total	30,678	$-581,254.86$
17 February 2011 Total	13,822	$-436,636.04$
21 February 2011 Total	81,927	-$212,9 32.76
22 February 2011 Total	72,073	-$185,80 2.09
23 February 2011 Total	44,680	-$112,079.51
24 February 2011 Total	55,320	-$139,697.42
25 February 2011 Total	100,000	-$252,736.92
1 March 2011 Total	74,999	$-183,932.86$
2 March 2011 Total	54,435	-$136,063.70
4 March 2011 Total	13,003	-$ 32,574.87
7 March 2011 Total	86,997	$-5217,663.71$
8 March 2011 Total	58,650	$-5144,096.51$
9 March 2011 Total	16,350	$-$ $39,922.25
15 March 2011 Total	74,856	$-5170,482.67$
Grand Total	11,425,712	$31,212,318.62

$\sim$ $\sim$