For immediate release

7 February 2017

ALLIANCE PHARMA PLC

("Alliance" or the "Company")

Changes to interests of a significant shareholder

Alliance Pharma plc (AIM: APH), the speciality pharmaceutical company, has received a notification of a change in the interests of a significant shareholder. In accordance with AIM rule 17, the following details are now notified:

(a) Identity of the significant shareholder: River & Mercantile Asset Management LLP

(b) Date of disclosure: 6 February 2017

(d) Price, amount and class: 100,000 ordinary shares of 1p each; price not disclosed

(e) Nature of transaction: sale of shares

(f) Nature and extent of significant shareholder's interest: direct interest

(g) Resultant shareholding: 4.98%

In compliance with DTR5, a copy of the notification received from this investor is appended.

For further information:

Alliance Pharma plc	+ 44 (0) 1249 466966
John Dawson, Chief Executive Andrew Franklin, Chief Financial Officer
Rob Bellhouse, Company Secretary
www.alliancepharma.co.uk
Buchanan	+ 44 (0) 20 7466 5000
Mark Court / Sophie Cowles / Jane Glover

Numis Securities Limited	+ 44 (0) 20 7260 1000
Nominated Adviser: Michael Meade / Freddie Barnfield
Corporate Broking: James Black / Toby Adcock

Notes to editors:

About Alliance Pharma

Alliance, founded in 1998, is an international speciality pharmaceutical company based in Chippenham, Wiltshire, UK. The Company has sales in more than 100 countries worldwide via direct sales, joint ventures and a network of distributors. Alliance has a strong track record of acquiring the rights to established niche products and it currently owns or licenses the rights to approximately 90 pharmaceutical and consumer healthcare products. The Company continues to explore opportunities to expand its product portfolio.

Alliance joined the AIM market of the London Stock Exchange in December 2003 and trades under the symbol APH.


TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:		ALLIANCE PHARMA PLC
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights			Yes
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached			No
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments			No
An event changing the breakdown of voting rights			No
Other (please specify):			N/A
3. Full name of person(s) subject to the notification obligation:	River and Mercantile Asset Management LLP
4. Full name of shareholder(s) (if different from 3.):
5. Date of the transaction and date on which the threshold is crossed or reached:	3^rd February 2017
6. Date on which issuer notified:	6^th February 2017
7. Threshold(s) that is/are crossed or reached:	5%

8. Notified details:

A: Voting rights attached to shares

Class/type of
shares

if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of voting rights

Direct

Indirect

Direct

Indirect

GB0031030819

23,650,000

23,550,000

4.9828%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date

Exercise/
Conversion Period

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date

Exercise/
Conversion period

Number of voting rights instrument refers to

% of voting rights

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

23,550,000

4.9828%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable


Proxy Voting:
10. Name of the proxy holder:		River and Mercantile Asset Management LLP
11. Number of voting rights proxy holder will cease to hold:		N/A
12. Date on which proxy holder will cease to hold voting rights:		N/A

13. Additional information:
14. Contact name:	Charlotte Williams Compliance Department
15. Contact telephone number:	+44 (0) 20 7601 6262