ALLIANCE PHARMA PLC

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

("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: Aviva plc and its subsidiaries

(b) Date of disclosure: 4 May 2017

(d) Price, amount and class: 4,654,020 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 and indirect interests

(g) Resultant shareholding: 3.86% (direct) and 0.01% (indirect) = 3.87% total

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			?
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):
3. Full name of person(s) subject to the notification obligation:	Aviva plc & its subsidiaries
4. Full name of shareholder(s) (if different from 3.):	Registered Holder: Available on request 18,450* Chase (GA Group) Nominees Limited 18,236,806* *denotes direct interest
5. Date of the transaction and date on which the threshold is crossed or reached:	03 May 2017
6. Date on which issuer notified:	04 May 2017
7. Threshold(s) that is/are crossed or reached:	4% to 3% Change at Direct Interest Level (Box 8A & Box 8A&B)

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	Direct		Indirect	Direct		Indirect
Ordinary Shares GB0031030819	22,959,276*		22,959,276*		18,255,256	18,255,256		Not Disclosable**	3.86%		Not Disclosable**

* Includes Right to Recall Loaned Shares (50,000)
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
RIGHT TO RECALL LOANED SHARES		N/A		N/A			50,000* *Direct Interest			0.01%

Total (A+B+C)
Number of voting rights	Percentage of voting rights
18,305,256	3.87%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:
The voting rights are managed and controlled by Aviva Investors Global Services Limited and Friends Provident International Limited , with the following chain of controlled undertakings:- Aviva Investors Global Services Limited: · Aviva plc (Parent Company) · Aviva Group Holdings Limited (wholly owned subsidiary of Aviva plc) · Aviva Investors Holdings Limited (wholly owned subsidiary of Aviva Group Holdings Limited) · Aviva Investors Global Services Limited (wholly owned subsidiary of Aviva Investors Holdings Limited) Friends Provident International Limited: · Aviva plc (Parent Company) · Aviva Group Holdings Limited (wholly owned subsidiary of Aviva plc) · Friends Provident International Limited (wholly owned subsidiary of Aviva Group Holdings Limited)

Proxy Voting:
10. Name of the proxy holder:		See Section 4
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:	Figures are based on a total number of voting rights of 472,795,052, as per the Company's 'Application for admission' announcement of 31 March 2017. ** - Although not reportable, as per DTR5.1.5,the non-disclosable (indirect) position is currently 604,020 shares, and is included here in the interests of transparency.
14. Contact name:	Neil Whittaker, Aviva plc
15. Contact telephone number:	01603 684420