Pharming redeems final tranche of convertible bond for cash
(Thomson Reuters ONE) -
No additional shares to be issued for final tranche
Leiden, The Netherlands, 29 August 2013. Biotech company Pharming Group NV
("Pharming" or "the Company") (NYSE Euronext: PHARM) today announced that it
decided to redeem the seventh and final tranche of its ?16.35 million
convertible bond for cash. A total of ? 2,354,465 will be paid in cash to the
bondholders on 1 October 2013 under the terms and conditions of the bond,
serving as a final redemption and interest payment.
Yesterday, as the (also final) balancing payment for the redemption of the
6(th) tranche, 827,347 shares were issued to the Bondholders. As result of this
issuance, the number of outstanding shares has increased from 229,042,869 to
229,870,216.
About the January 2013 Convertible Bonds
As announced in our press release on 16 January 2013, and following the approval
of the increase of the Company's authorized share capital during the
extraordinary general meeting of shareholders, which was held on February
28, 2013, Pharming will redeem the bond in full on a month by month basis in
seven equal tranches, such that the bond will be redeemed in full on 1 October
2013. Pharming can decide at its discretion to redeem the bond and pay the
interest due, by means of monthly equity tranches or cash payments. The
remaining redemption date for this last tranche is 1 October.
About Pharming Group NV
Pharming Group NV is developing innovative products for the treatment of unmet
medical needs. RUCONEST® (conestat alfa) is a recombinant human C1 esterase
inhibitor approved for the treatment of angioedema attacks in patients with HAE
in all 27 EU countries plus Norway, Iceland and Liechtenstein, and is
distributed in the EU by Swedish Orphan Biovitrum. RUCONEST® is partnered with
Santarus, Inc. (NASDAQ: SNTS) in North America and a Biologics License
Application (BLA) for RUCONEST® is under review by the U.S. Food and Drug
Administration. The product is also being evaluated for various follow-on
indications. Pharming has a unique GMP compliant, validated platform for the
production of recombinant human proteins that has proven capable of producing
industrial volumes of high quality recombinant human protein in a more
economical way compared to current cell based technologies. In July 2013, the
Platform was partnered with Shanghai Institute for Pharmaceutical Industry
(SIPI), a Sinopharm Company, for joint global development of new products. Pre-
clinical development and manufacturing will take place at SIPI and are funded by
SIPI. Pharming and SIPI initially plan to utilise this platform for the
development of rhFVIII for the treatment of Haemophilia A. Additional
information is available on the Pharming website, www.pharming.com.
This press release contains forward looking statements that involve known and
unknown risks, uncertainties and other factors, which may cause the actual
results, performance or achievements of the Company to be materially different
from the results, performance or achievements expressed or implied by these
forward looking statements.
Contact
Sijmen de Vries, CEO: T: +31 71 524 7400
FTI Consulting
Julia Phillips/ John Dineen, T: +44 (0)207 269 7193
# # #
Press release (PDF):
http://hugin.info/132866/R/1725823/575639.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Pharming Group N.V. via Thomson Reuters ONE
[HUG#1725823]
Unternehmensinformation / Kurzprofil:
Datum: 29.08.2013 - 16:11 Uhr
Sprache: Deutsch
News-ID 292265
Anzahl Zeichen: 4255
contact information:
Town:
Leiden
Kategorie:
Business News
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