SYNTARA LIMITED — Major Shareholding Notification 2012

Apr 12, 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		10 April 2012
The previous notice was given to the company on		10 April 2012
The previous notice was dated		5 April 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)	Considerationgiven 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:	1W W	Date:12 April 2012
Print Name:	Trish Lee	Capacity:	Authorised signatory
Sign Here:	friol Lorr	Date:	12 April 2012

Contact details for this notice:

$---$

...

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

				PXS - Appendix Al
Date of	Person whose relevant interest	Nature of Change	Consideration given in	Number of	Class
change	changed		relation to change	securities
10-Apr-12	IUBS Securities Australia Ltd	lStock returned	N/Al	(456, 274)	Ordinarv
$10 - Apr - 12$	IUBS Securities Australia Ltd	Sell	451	(333)	Ordinarv
110-Apr-12	UBS Global Asset Management Ltd	lBuv	282,074	208.825	Ordinarv