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------------------------------- OMB APPROVAL ------------------------------- OMB Number: 3235-0145 Expires: December 31, 1997 Estimated average burden hours per response.....14.90 ------------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. )* Flamel Technologies S.A. (Name of Issuer) Ordinary Shares, nominal value 0.80 French franc per share, represented by American Depositary Shares (Title of Class of Securities) 338488 10 9 (CUSIP Number) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 of 5 Pages - ---------------------------- ---------------------------- CUSIP No. 338488 10 9 13G Page 2 of 5 Pages ----------------- ----- ---- - ---------------------------- ---------------------------- - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Gerard Soula - ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - ---------- --------------------------------------------------------------------- 3 SEC USE ONLY - ---------- --------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION The Republic of France - -------------------- ------ ---------------------------------------------------- 5 SOLE VOTING POWER 674,250 ------ ---------------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY -0- OWNED BY ------ ---------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER REPORTING PERSON 674,250 WITH ------ ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER -0- - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 674,250 - ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.56% - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN - ---------- --------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! Item 1(a). Name of Issuer: - ---------- -------------- Flamel Technologies S.A. (the "Issuer") Item 1(b). Address of Issuer's Principal Executive Offices: - --------- ----------------------------------------------- Parc Club du Moulin a Vent 33, avenue du Docteur Georges Levy 69693 Venissieux France Items 2(a) Name of Person Filing; Address of Principal and (b). Business Office: - ---------- -------------------------------------------- This statement is filed by and on behalf of Gerard Soula ("Soula"). The business address of Soula is Parc Club du Moulin a Vent, 33, avenue du Docteur Georges Levy, 69693 Venissieux, France. Item 2(c). Citizenship: - ---------- ----------- The Republic of France Item 2(d). Title of Class of Securities: - ---------- ---------------------------- Ordinary Shares, nominal value 0.80 French franc per share ("Ordinary Shares"), represented by American Depositary Shares Item 2(e). CUSIP Number: - ---------- ------------ 338488 10 9 Item 3. Not Applicable - ------- -------------- Item 4. Ownership: - ------- --------- (a) 674,250 Ordinary Shares, as of December 31, 1996. Page 3 of 5 Pages (b) 6.56% This calculation includes all outstanding Ordinary Shares of the Issuer, whether or not represented by American Depositary Shares. (c) (i) 674,250 (ii) -0- (iii) 674,250 (iv) -0- Item 5. Ownership of Five Percent or Less of a Class: Not Applicable Item 6. Ownership of More than Five Percent on Behalf - ------- of Another Person: --------------------------------------------- Not Applicable Item 7. Identification and Classification of the - ------- Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company: ------------------------------------------ Not Applicable Item 8. Identification and Classification of - ------- Members of the Group: ------------------------------------- Not Applicable Item 9. Notice of Dissolution of Group: - ------- ------------------------------ Not Applicable Item 10. Certification: - -------- ------------- Not Applicable Page 4 of 5 Pages SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. /s/ Gerard Soula ---------------------------- Gerard Soula Dated: February 21, 1997 Page 5 of 5 Pages