SYNTARA LIMITED — Major Shareholding Notification 2012

Apr 16, 2012

Form 603

Corporations Law Section 671B

Notice of initial substantial holder

To: Company Name/Scheme	PHARMAXIS LIMITED
ACN/ARSN	082 811 630
Details of substantial holder (1)1.
Name:	UBS AG and its related bodies corporate
ACN/ARSN (if applicable)
The holder became a substantial holder on:	12 April 2012

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	Persons' votes (5)	Voting power (6)
Ordinary	15,326,518	15,326,518	5.01%

$31$ 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
UBS Global Asset Management(Australia) Ltd	Fund Manager with power to exercise control overvoting shares	12,765,604	Ordinary
UBS AG. London Branch	Beneficial Owner	24.234	Ordinary
	Prime Broker that has exercised its borrowing rightin respect of shares pursuant to a Prime BrokingAgreement (see Appendix A)	769.065	Ordinary
UBS Securities Australia Ltd	Beneficial Owner	293,277	Ordinary
UBS AG, Australia Branch	Prime Broker that has exercised its borrowing rightin respect of shares pursuant to a Prime BrokingAgreement (see Appendix A)	1,474,338	Ordinary

4. Details of present registered holders

Holder of relevantinterest	Registered holder ofsecurities	Person entitled to beregistered as holder $(8)$	Class and number ofsecurities
UBS Global AssetManagement (Australia) Ltd	Various custodians	UBS Global AssetManagement (Australia) Ltd	12,765,604	Ordinary
UBS AG. London Branch	Various Custodians	UBS AG. London Branch	24.234	Ordinary
	Citicorp Nominees Pty Ltd	UBS AG, London Branch	769.065	Ordinary
UBS Securities Australia Ltd	Brispot Nominees Pty Ltd	UBS Securities Australia Ltd	293.277	Ordinary
UBS AG, Australia Branch	UBS Nominees Pty Ltd	UBS AG, Australia Branch	1.474.338	Ordinary

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

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 relevant interest	Date of acquisition	Consideration (9)		Class and numberof securities
		Cash	Non-cash
Please see Appendix B.

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
UBS Global Asset Management (Australia) Ltd	Related body corporate
UBS Securities Australia Ltd	Related body corporate
Brispot Nominees Pty Ltd	Related body corporate
UBS Nominees Pty Ltd	Related body corporate

7. Addresses

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

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

SIGNATURE

	Print Name: So Young Kim	Capacity:	Authorised signatory
	Sign Here:	Date:	16 April 2012
Print Name:	Trish Lee	Capacity:	Authorised signatory
	Sign Here: Ling Lmn	Date:	16 April 2012

Contact details for this notice: ................................

Tiffany Leung Legal & Compliance (T) +852 2971 8042 (F) +852 2971 7895 ---------------------------------------

L.

Holder of relevant interest	UBS AG, London Branch	UBS AG, Australia Branch
Type of agreement	Prime Brokerage Agreement	Prime Brokerage Agreement
Parties to agreement	(i) UBS AG, London Branch ("UBSAG")(ii) Client (Please refer to Appendix$A-1.$ )	(i) UBS AG, Australia Branch ("UBSAG")(ii) Client (Please refer to Appendix$A-1.$
Transfer date	Please refer to Appendix A-1.	Please refer to Appendix A-1.
Holder of voting rights	UBS AG	UBS AG
Are there any restrictions onvoting rights?	No.	Please refer to the details below.
If yes, detail	N/A	Since all right and title in thesecurities passes to the transferee(i.e. UBS AG), the transferee hasthe right to vote. However, in certaincircumstances, the transferee mayseek to arrange for instructions tobe exercised in accordance with theinstructions of the transferor (i.e.Client).
Scheduled return date (if any)	None.	None, subject to the terms of therelevant loan.
Does the borrower have the rightto return early?	Yes.	Yes.
If yes, detail	The borrower (i.e. UBS AG) has theright to return at its discretion.	The borrower (i.e. UBS AG) has theright to return at its discretion.
Does the lender have the right torecall early?	Yes.	Yes.
If yes, detail	The lender (i.e. Client) can recall atits request subject to compliancewith margin requirements and theterms of the relevant loan.	The lender (i.e. Client) can recall atits request subject to compliancewith margin requirements and theterms of the relevant loan.
Will the securities be returned onsettlement?	Yes.	Yes.
If yes, detail any exceptions	None.	None.

Prime Brokerage Agreement - UBS AG, London Branch

Parties to agreement	Transfer date
Zambezi Absolute Return Fund	19 December 2011(i)

Prime Brokerage Agreement - UBS AG, Australia Branch

Parties to agreement	Transfer date
Regal Funds Management Pty Ltd as trustee and manager of Atlantic Absolute Return	(I)
Fund	4 April 2012

					PXS - Appendix B
Date ofchange	Person whose relevant interestchanged	Nature of Change	Consideration given inrelation to change	Number ofsecurities	Class
$15 - Dec-11$	UBS Securities Australia Ltd	lBuv	86,191	82,087	Ordinary
19-Dec-11	UBS Securities Australia Ltd	Stock returned	N/AN/A	(2,436)	Ordinary
19-Dec-1119-Dec-11	UBS AG, London BranchUBS Global Asset Management Ltd	Stock receivedBuy	50,227	982,38848,208	OrdinaryOrdinary
19-Dec-11	UBS Global Asset Management Ltd	Buy	68,556	65,800	Ordinary
20-Dec-11	UBS Securities Australia Ltd	Stock returned	N/A	(73, 596)	Ordinary
20-Dec-11	UBS Global Asset Management Ltd	Buy	26,466	25,400	Ordinary
20-Dec-11	UBS Global Asset Management Ltd	Buy	36,305	34,842	Ordinary
$21 - Dec - 11$	UBS Securities Australia Ltd	Buy	22,045	21,017	Ordinary
21-Dec-11	UBS Global Asset Management Ltd	Buy	19,182	18,40425,100	Ordinary
21-Dec-1122-Dec-11	UBS Global Asset Management LtdUBS Global Asset Management Ltd	BuyBuy	26,16176,191	73,100	OrdinaryOrdinary
22-Dec-11	UBS Global Asset Management Ltd	Buy	104,164	99,938	Ordinary
$23 - Dec-11$	UBS Securities Australia Ltd	Stock returned	N/A	(73, 596)	Ordinary
23-Dec-11	UBS Global Asset Management Ltd	Buy	37,210	35,700	Ordinary
$23-Dec-11$	UBS Global Asset Management Ltd	Buy	50,902	48,837	Ordinary
28-Dec-11	UBS Securities Australia Ltd	Stock returned	N/A	(73, 596)	Ordinary
28-Dec-1128-Dec-11	UBS Global Asset Management LtdUBS Global Asset Management Ltd	BuyBuy	11,14115,113	10,68914,500	OrdinaryOrdinary
29-Dec-11	UBS Global Asset Management Ltd	Buy	32,519	31,200	Ordinary
29-Dec-11	UBS Global Asset Management Ltd	Buy	44,401	42,600	Ordinary
30-Dec-11	UBS Global Asset Management Ltd	Buy	1,668	1,600	Ordinary
30-Dec-11	UBS Global Asset Management Ltd	Buy	2,301	2,208	Ordinary
03-Jan-12	UBS Global Asset Management Ltd	Buy	1,174	1,126	Ordinary
03-Jan-12	UBS Global Asset Management Ltd	Buy	1,668	1,600	Ordinary
$04$ -Jan-12$04 - Jan - 12$	UBS Securities Australia LtdUBS Securities Australia Ltd	Stock returnedBuy	$\overline{\text{N/A}}$7,167	(47,077)6,667	OrdinaryOrdinary
04-Jan-12	UBS Securities Australia Ltd	Sell	22,446	(21, 017)	Ordinary
$04$ -Jan-12	UBS Securities Australia Ltd	Sell	11,241	(10, 526)	Ordinary
$04$ -Jan-12	UBS AG, London Branch	Stock returned	N/A	(37, 400)	Ordinary
05-Jan-12	UBS Securities Australia Ltd	Buy	33,584	31,534	Ordinary
$05$ -Jan-12	U8S AG, London Branch	Stock returned	N/A	(16, 603)	Ordinary
$06$ -Jan-1209-Jan-12	UBS Securities Australia LtdUBS AG, London Branch	SellSell	1,0291,293	(975)(1,223)	OrdinaryOrdinary
09-Jan-12	UBS Securities Australia Ltd	Stock borrowed	N/A	24,876	Ordinary
$10$ -Jan-12	UBS AG, London Branch	Sell	2,127	(2,008)	Ordinary
$11$ -Jan- $12$	UBS AG, London Branch	Sell	1,129	(1,072)	Ordinary
$11$ -Jan-12	UBS Securities Australia Ltd	Sell	6,775	(6,450)	Ordinary
$12 - Jan - 12$	UBS AG, London Branch	Sell	3,876	(3,717)	Ordinary
$12$ -Jan-12	UBS Securities Australia Ltd	Sell	10,3463,040	(9, 915)	Ordinary
13-Jan-1213-Jan-12	'UBS AG, London BranchUBS Securities Australia Ltd	DellStock returned	N/A	(2,898)(5,731)	OrdinaryOrdinary
16-Jan-12	UBS AG, London Branch	Sell	9,076	(8,641)	Ordinary
17-Jan-12	UBS AG, London Branch	Sell	9,951	(9, 459)	Ordinary
17-Jan-12	UBS Securities Australia Ltd	Buy	15,117	14,359	Ordinary
$18$ -Jan-12	UBS AG, London Branch	Sell	5,432	(5, 219)	Ordinary
18-Jan-12	UBS Securities Australia Ltd	Sell	7,495	(7,205)	Ordinary
18-Jan-1218-Jan-12	UBS Global Asset Management LtdUBS Global Asset Management Ltd	BuyBuy	4,9956,890	4,8006,621	OrdinaryOrdinary
19-Jan-12	UBS AG, London Branch	Sell	11,751	(11, 282)	Ordinary
19-Jan-12	UBS Securities Australia Ltd	Sell	16,387	(15, 745)	Ordinary
19-Jan-12	UBS Global Asset Management Ltd	Buy	8,120	7,803	Ordinary
19-Jan-12	UBS Global Asset Management Ltd	Buy	10,867	10,442	Ordinary
20-Jan-12	UBS AG, London Branch	Sell	3,934	(3,878)	Ordinary
$23$ -Jan-1224-Jan-12	UBS AG, London BranchUBS AG, London Branch	SellSell	19,4203,191	(18, 847)(3,100)	OrdinaryOrdinary
24-Jan-12	UBS Securities Australia Ltd	Stock borrowed	N/A	50,000	Ordinary
$25 - Jan - 12$	UBS AG, London Branch	Sell	15	(15)	Ordinary
25-Jan-12	UBS Securities Australia Ltd	Stock returned	N/A	(24, 876)	Ordinary
25-Jan-12	UBS Securities Australia Ltd	Buv	11,538	11,367	Ordinary
25-Jan-12	UBS Securities Australia Ltd	Sell	3,897	(3,833)	Ordinary
$25 - Jan - 12$	UBS Securities Australia Ltd	Sell	7,180	(7,063)	Ordinary
$27 - Jan - 12$01-Feb-12	UBS AG, London BranchUBS Securities Australia Ltd	SellStock borrowed	N/A	(1)100,000	OrdinaryOrdinary
01-Feb-12	UBS AG, London Branch	Stock returned	N/A	(159, 320)	Ordinary
02-Feb-12	UBS Global Asset Management Ltd	Buy	429,599	429,500	Ordinary
03-Feb-12	UBS Securities Australia Ltd	Sell	10,743	(10, 717)	Ordinary
03-Feb-12	UBS Global Asset Management Ltd	Buy	46,659	46,384	Ordinary
06-Feb-12	UBS Global Asset Management Ltd	Sell	39,009	(38, 552)	Ordinary
09-Feb-1217-Feb-12	UBS Securities Australia LtdUBS Securities Australia Ltd	BuvStock returned	19,996N/A	20,000(100,000)	OrdinaryOrdinary
17-Feb-12	UBS Securities Australia Ltd.	Sell	17,263	(17, 859)	Ordinary
$23 - \text{Feb} - 12$	UBS AG, London Branch	Buy	543	569	Ordinary
24-Feb-12	UBS Securities Australia Ltd	Buy	9,500	10,000	Ordinary
27-Feb-12	UBS AG, London Branch	Buy	860	885	Ordinary

28-Feb-12	UBS Securities Australia Ltd	Buy	18,812	18,633	Ordinary
29-Feb-12	UBS Securities Australia Ltd	Sell	16,526	(15,000)	Ordinary
29-Feb-12	UBS Securities Australia Ltd	Buy	3,120	3,000	Ordinary
29-Feb-12	UBS Securities Australia Ltd	Sell	29,065	(26, 892)	Ordinary
01-Mar-12	UBS Securities Australia Ltd	Sell	29,867	(28, 529)	Ordinary
$01$ -Mar-12	UBS Securities Australia Ltd	Sell	2,616	(2, 503)	Ordinary
02-Mar-12	UBS Securities Australia Ltd	Sell	32,269	(31, 460)	Ordinary
102-Mar-12	UBS Securities Australia Ltd	Buy	2,503	2,503	Ordinary
05-Mar-12	UBS Securities Australia Ltd	Sell	30,002	(29, 805)	Ordinary
06-Mar-12	UBS Securities Australia Ltd	Stock borrowed	N/A	24,400	Ordinary
06-Mar-12	UBS Securities Australia Ltd	Sell	29,645	(30, 045)	Ordinary
$07$ -Mar-12	UBS Securities Australia Ltd	Stock borrowed	N/A	28,957	Ordinary
$07 - \text{Mar} - 12$	UBS Securities Australia Ltd	Sell	16,419	(16, 735)	Ordinary
08-Mar-12	UBS Securities Australia Ltd	Stock borrowed	N/A	29,805	Ordinary
08-Mar-12	UBS Securities Australia Ltd	Buy	10,000	10,000	Ordinary
$08 - $ Mar-12	UBS Securities Australia Ltd	Buy	28,461	28,532	Ordinary
09-Mar-12	UBS Securities Australia Ltd	Stock borrowed	N/A	30,045	Ordinary
09-Mar-12	UBS Securities Australia Ltd	Buy	28,582	27,758	Ordinary
$12 - \frac{Mar-12}{2}$	UBS Securities Australia Ltd	Buy	5,400	5,000	Ordinary
$12-Mar-12$	UBS Securities Australia Ltd	Sell	4,767	(4.357)	Ordinary
$13-Mar-12$	UBS Securities Australia Ltd	Stock borrowed	N/A	16,735	Ordinary
$13-Mar-12$	UBS Securities Australia Ltd	Buy	15,951	14,588	Ordinary
$13-Mar-12$	UBS Securities Australia Ltd	Sell	15,634	(14, 588)	Ordinary
13-Mar-12	UBS Securities Australia Ltd	Sell	29,479	(26, 921)	Ordinary
13-Mar-12	UBS Securities Australia Ltd	Buy	4,727	4,357	Ordinary
13-Mar-12	UBS Securities Australia Ltd	Sell	4,301	(3,888)	Ordinary
$14-Mar-12$	UBS Securities Australia Ltd	Stock returned	N/A	(24, 400)	Ordinary
$14 - $ Mar $-12$	UBS Securities Australia Ltd	Sell	3,367	(2, 912)	Ordinary
14-Mar-12	UBS Securities Australia Ltd	Buy	87,045	73,000	Ordinary
14-Mar-12	UBS Securities Australia Ltd	Sell	64,301	(55,000)	Ordinary
14-Mar-12	UBS Securities Australia Ltd	Sell	33,144	(28,681)	Ordinary
15-Mar-12	UBS Securities Australia Ltd	Stock returned	N/A	(28, 957)	Ordinary
$15$ -Mar-12	UBS Securities Australia Ltd	Sell	41,675	(35,000)	Ordinary
15-Mar-12	UBS Securities Australia Ltd	Buy	11,699	10,000	Ordinary
15-Mar-12	UBS Securities Australia Ltd	Seli	38,489	(32, 684)
	UBS AG, London Branch	Buy	1,287	1,023	OrdinaryOrdinary
16-Mar-12
16-Mar-12	UBS Securities Australia Ltd	Stock borrowed	N/A	12,876	Ordinary
$16$ -Mar-12	UBS Securities Australia Ltd	Buy	69,676	55,585	Ordinary
16-Mar-12	UBS Securities Australia Ltd	Sell	41,385	(33,013)	Ordinary
$16$ -Mar-12	UBS Global Asset Management Ltd	Buγ	541,792	440,481	Ordinary
$16$ -Mar-12	UBS Global Asset Management Ltd	Buy	541,792	440,481	Ordinary
19-Mar-12	UBS AG, London Branch	Buv	2,351	1,870	Ordinary
19-Mar-12	UBS Securities Australia Ltd	Stock borrowed	N/A	13,593	Ordinary
19-Mar-12	UBS Securities Australia Ltd	Buy	37,950	30,000	Ordinary
19-Mar-12	UBS Securities Australia Ltd	Sell	25,002	(20,000)	Ordinary
19-Mar-12	UBS Securities Australia Ltd	Buv	45,580	36,339	Ordinary
20-Mar-12	UBS AG, London Branch	Buy	6,721	5,444	Ordinary
20-Mar-12	UBS Securities Australia Ltd	Stock borrowed	N/A	135,478	Ordinary
20-Mar-12	UBS Securities Australia Ltd	Stock returned	N/A	(29, 805)	Ordinary
20-Mar-12	UBS Securities Australia Ltd	Sell	37,425	(30,000)	Ordinary
20-Mar-12	UBS Securities Australia Ltd	Buy	57,895	46,966	Ordinary
21-Mar-12	UBS AG, London Branch	Buy	5,375	4,307	Ordinary
21-Mar-12	UBS Securities Australia Ltd	Buy	6,230	5,000	Ordinary
21-Mar-12	UBS Securities Australia Ltd	Sell	1,235	(1,000)	Ordinary
21-Mar-12	UBS Securities Australia Ltd	Buy	14,192	11,378	Ordinary
21-Mar-12	UBS Global Asset Management Ltd	Buy	189,888	151,739	Ordinary
22-Mar-12	UBS AG, London Branch	Buy	2,123	1,704	Ordinary
22-Mar-12	UBS Securities Australia Ltd	Stock returned	N/A	(30,045)	Ordinary
$22 - Max - 12$	UBS Securities Australia Ltd	Stock returned	N/A	(16, 735)	Ordinary
$22-Mar-12$	UBS Securities Australia Ltd	Stock returned	N/A	(70, 120)	Ordinary
22-Mar-12	UBS Securities Australia Ltd	Buy	4,894	3,869	Ordinary
$23 - $ Mar-12		Buy	4,764	3,835
	UBS AG, London Branch				Ordinary
$23$ -Mar-12	UBS Securities Australia Ltd	Stock returned	N/A	(12, 876)	Ordinary
23-Mar-12	UBS Securities Australia Ltd	Stock returned	N/A	(4,090)	Ordinary
26-Mar-12	UBS AG, London Branch	Buy	4,563	3,584	Ordinary
26-Mar-12	UBS Securities Australia Ltd	Buy	65,736	52,800	Ordinary
27-Mar-12	UBS AG, London Branch	Buy	1,347	1.018	Ordinary
27-Mar-12	UBS Securities Australia Ltd	Buy	160,075	117,754	Ordinary
$27 - $ Mar-12	UBS Securities Australia Ltd	Sell	33,020	(25,400)	Ordinary
27-Mar-12	UBS Securities Australia Ltd	Sell	9,750	(7,500)	Ordinary
28-Mar-12	UBS Securities Australia Ltd	Stock returned	N/A	(19, 247)	Ordinary
28-Mar-12	UBS Securities Australia Ltd	Buy	79,238	56,635	Ordinary
28-Mar-12	UBS Securities Australia Ltd	Sell	48,650	(35,000)	Ordinary
28-Mar-12	UBS Securities Australia Ltd	Sell	4,873	(3,493)	Ordinary
28-Mar-12	UBS Securities Australia Ltd	Sell	4,653	(3,300)	Ordinary
28-Mar-12	UBS Securities Australia Ltd	Buy	9,193	6,600	Ordinary
29-Mar-12	UBS Securities Australia Ltd	Stock borrowed	N/A	481,928	Ordinary
29-Mar-12	UBS Securities Australia Ltd	Stock returned	N/A	(9,503)	Ordinary

29-Mar-12	UBS Securities Australia Ltd	Stock returned	N/A	(46, 111)	Ordinary
29-Mar-12	UBS Securities Australia Ltd	Buy	6,925	5,000	Ordinary
29-Mar-12	UBS Securities Australia Ltd	Sell	4,946	(3,520)	Ordinary
29-Mar-12	UBS Securities Australia Ltd	8uy	4,750	3,493	Ordinary
30-Mar-12	UBS Securities Australia Ltd	Stock returned	N/A	(481,928)	Ordinary
30-Mar-12	UBS Securities Australia Ltd	Buv	56,111	41,659	Ordinary
30-Mar-12	UBS Securities Australia Ltd	Sell	37,940	(28,000)	Ordinary
30-Mar-12	UBS Securities Australia Ltd	Buy	35,448	26,432	Ordinary
30-Mar-12	UBS Securities Australia Ltd	Buy	4,629	3,520	Ordinary
02-Apr-12	UBS Securities Australia Ltd	Stock borrowed	N/A	456,274	Ordinary
02-Apr-12	UBS Securities Australia Ltd	Buy	17,315	13,000	Ordinary
02-Apr-12	UBS Securities Australia Ltd	Buy	76,238	57,133	Ordinary
02-Apr-12	UBS Global Asset Management Ltd	Buy	1,930,594	1,468,132	Ordinary
03-Apr-12	UBS Securities Australia Ltd	Buy	8,883	6,679	Ordinary
03-Apr-12	UBS Global Asset Management Ltd	Buv	12,481	9,488	Ordinary
04-Apr-12	UBS AG, Australia Branch	Stock received	N/A	1,474,338	Ordinary
04-Apr-12	UBS Securities Australia Ltd	Buy	37,297	28,430	Ordinary
04-Apr-12	UBS Securities Australia Ltd	Buy	39,699	30,000	Ordinary
04-Apr-12	UBS Global Asset Management Ltd	Buy	87,544	67,003	Ordinary
05-Apr-12	UBS AG, London Branch	Sel		(5)	Ordinary
05-Apr-12	UBS Securities Australia Ltd	Stock returned	N/A	(50,000)	Ordinary
05-Apr-12	UBS Securities Australia Ltd	Sell	6,650	(5,000)	Ordinary
05-Apr-12	UBS Global Asset Management Ltd	Buv	134,534	99,724	Ordinary
10-Apr-12	UBS Securities Australia Ltd.	Stock returned	N/A	(456, 274)	Ordinary
10-Apr-12	UBS Securities Australia Ltd	Sell	451	(333)	Ordinary
10-Apr-12	UBS Global Asset Management Ltd	Buv	282,074	208,825	Ordinary
11-Apr-12	UBS Global Asset Management Ltd	Buy	246,257	186,757	Ordinary
11-Apr-12	UBS Securities Australia Ltd	Buy	39,501	30,000	Ordinary
12-Apr-12	UBS Global Asset Management Ltd	Buy	66,869	50,528	Ordinary

$\label{eq:2.1} \frac{1}{\sqrt{2}}\int_{\mathbb{R}^3}\frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^2\frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^2\frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^2\frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^2.$