Sec Form 3 Filing - Fountain Healthcare Partners Ltd. @ AMARIN CORP PLC\UK - 2011-01-01

Insider filing report for Changes in Beneficial Ownership
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FORM 3
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Fountain Healthcare Partners Ltd.
2. Issuer Name and Ticker or Trading Symbol
AMARIN CORP PLC\UK [ AMRN]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
C/O AMARIN PHARMA, INC., MYSTIC PACKER BLDG, 12 ROOSEVELT AVENUE
3. Date of Earliest Transaction (MM/DD/YY)
01/01/2011
(Street)
MYSTIC, CT06355
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Ordinary Shares ( 2 ) 17,391 I See footnote ( 3 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy) $ 1.03 ( 1 ) 02/10/2020 Ordinary Shares ( 2 ) 120,000 D
Warrant (right to buy) $ 1.5 10/16/2009 10/16/2014 Ordinary Shares 2,500,000 I See footnote ( 3 )
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Fountain Healthcare Partners Ltd.
C/O AMARIN PHARMA, INC.
MYSTIC PACKER BLDG, 12 ROOSEVELT AVENUE
MYSTIC, CT06355
X
Signatures
/s/ Frederick Ahlholm, by power of attorney 01/04/2011
Signature of Reporting Person Date
Explanation of Responses:
( 1 )On February 20, 2010, the reporting person was granted an option under the Amarin Corporation plc 2002 Stock Option Plan. The stock option will vest in four equal installments on each anniversary of such grant date.
( 2 )The Ordinary Shares may be represented by American Depositary Shares, each of which currently represents one Ordinary Share.
( 3 )The securities reported herein are directly owned by Fountain Healthcare Partners Fund 1, L.P. (the "Fund"). Mr. Manus Rogan is a managing partner of Fountain Healthcare Partners Ltd., which is the general partner of the Fund. Mr. Rogan disclaims beneficial ownership of all securities held by the Fund, and this report should not be deemed an admission that the reporting person is beneficial owner of such securities for the purposes of Section 16 of the Exchange Act, as amended, or for any purpose.

Remarks:
The Reporting Person is filing this form in connection with the Issuer transitioning from foreign private issuer to full reporting status, effective as of January 1, 2011.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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