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SYNTARA LIMITED Major Shareholding Notification 2013

May 16, 2013

65830_rns_2013-05-16_356ad9a3-43a5-4058-a1b5-fc5b9d08bae2.pdf

Major Shareholding Notification

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FORM 605 Corporations Act 2001 Section 671B

NOTICE OF CEASING TO BE A SUBSTANTIAL HOLDER

To: Company Name/Scheme PXS - Pharmaxis Ltd ACN/ARSN 082 811 630 1. Details of Substantial Holder(1) Name Acorn Capital Limited ACN/ARSN (if applicable) 082 694 531 There was a change in the interests of the 16/05/2013 substantial holder on The previous notice was given to the company on 10/03/2010 The previous notice was dated 09/03/2010

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate 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 of Change	Person whose relevant	Nature of	Consideration given in	Class and number of	Person's votes
	interest changed	change	relation to change	securities affected	affected
10-Mar-2010 to16-May-2013	Acorn Capital Limited	Sold	$11,500,203.51	10,405,409	10,405,409
		Purchase	$14,290,328.83	10,459,816	10,459,816

3. Changes in Associates

The persons who have become associates (2) of, ceased to be associates, or have change the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable) Name of Association

Print Name PAUL PALUMBO Capacity Portfolio Manager Sign Here Date 17/05/2013