Edgar Filing: ORBIS INVESTMENT MANAGEMENT LTD

Ownership Submission

FORM 4

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 OF SECURITIES

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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3235-0287

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

ORBIS HOLDINGS TRUST

2. Issuer Name and Ticker or Trading Symbol
PEPLIN INC [PLIN]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
_____ Officer (give title below)	__X__ Other (specify below)
Former 10% Owner

(Last)

(First)

(Middle)

LPG BUILDING, 34 BERMUDIANA ROAD

3. Date of Earliest Transaction (Month/Day/Year)
12/08/2008

(Street)

HAMILTON, D0 HM 11

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ 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 (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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
Common Stock								0 ⁽¹⁾	I	See footnotes ⁽¹⁾ ⁽²⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

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
(Month/Day/Year)

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

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
ORBIS HOLDINGS TRUST LPG BUILDING 34 BERMUDIANA ROAD HAMILTON, D0 HM 11				Former 10% Owner
ORBIS TRUST BOULEVARD GEORGES FAVON 29 GENEVA, V8 CH-1204				Former 10% Owner
PICTET TRUSTEE CO S A BOULEVARD GEORGES FAVON 29 GENEVA, V8 CH-1204				Former 10% Owner
PICTET OVERSEAS TRUST CORP LTD BAYSIDE EXECUTIVE PARK WEST BAY STREET NASSAU, C5 0000000000				Former 10% Owner
ORBIS WORLD LTD LPG BUILDING 34 BERMUDIANA ROAD HAMILTON, D0 HM 11				Former 10% Owner
ORBIS HOLDINGS LTD 34 BERMUDIANA RD HAMILTON HM 11 BERMUDA 00000				Former 10% Owner
ORBIS INVESTMENT MANAGEMENT LTD ORBIS LPG BLDG 34 BERMUDIANA ROAD HAMILTON HM11 BERMUD, D0				Former 10% Owner
ORBIS ASSET MANAGEMENT LTD 34 BERMUDIANA RD HAMILTON HM11, D0 00000				Former 10% Owner

Signatures

/s/James Dorr		02/27/2009
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The reporting persons are submitting this Form 4 relying on Rules 16a-1(a)(1)(x) and (xi), which became effective 8 December 2008. Accordingly, filing of this Form 4 is based on such reporting persons no longer being considered as "beneficial owners" of Peplin, Inc. common stock.
(2)	By six investment funds (Orbis MIS-Orbis Global Equity Fund, Orbis Global Equity Fund Limited, Orbis Optimal SA Fund Limited, Orbis Sicav - Global Equity Fund, Orbis Sicav - Asia Ex Japan Fund, Orbis Optimal Global Fund LP) in which Pictet Trustee Company SA and Pictet Overseas Trust Corporation Limited, through the other reporting persons, have an ownership interest which varies from time to time, based on the outstanding equity interests of the funds.

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