SYNTARA LIMITED — Major Shareholding Notification 2012

Jun 18, 2012

Form 605

Corporations Law Section 671B

Notice of ceasing to be a substantial holder

To: Company Name/Scheme	PHARMAXIS LIMITED
ACN/ARSN	082 811 630
1. Details of substantial holder (1)
Name	UBS AG and its related bodies corporate
ACN/ARSN (if applicable):
The holder ceased to be a substantial shareholder on		14 June 2012
The previous notice was given to the company on		14 June 2012
The previous notice was dated		12 June 2012

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date ofchange	Person whoserelevant interestchanged	Nature of Change(4)	Considerationaiven inrelation tochange (5)	Class (6) andNumber ofsecurities affected	Person'svotesaffected
Please see Appendix A.

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	______
_______	Nature of association
N/A	N/A
.	_______________________________________

4. Addresses

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

Name	Address
Details of all UBS offices can be found through thefollowing link: http://apps.ubs.com/locationfinder ,

SIGNATURE

Print Name:Tiffany Leung		Capacity:	Authorised signatory
Sign Here:		Date:	18 June 2012
Print Name:	Trish Lee	Capacity:	Authorised signatory

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Contact details for this notice:

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Trish Lee Legal & Compliance(T) +852 3712 4387(F) +852 2971 7895

					PXS - Appendix A
Date of-change	Person whose relevant interest	Nature of Change	Consideration	Number of	Class
	changed	siriIN MARTIN I	given in relation tochange	securitiesi i ssae ∯nams	4
13-Jun-12	(UBS AG, London Branch	Sell	2,992	(2,762)	Ordinary
$14$ -Jun-12	UBS AG, London Branch	Sell	2,236	(2, 114)	Ordinary
14-Jun-12	UBS Securities Australia Ltd	Sell	31,733	(29,993))	Ordinary
14-Jun-12	UBS AG, London Branch	Stock returned	N/A	(721,709)]	Ordinary