Pharming confirms successful closing of offer on convertible bonds
(Thomson Reuters ONE) - Leiden, The Netherlands, October 13, 2009. Biotech company PharmingGroup NV ("Pharming" or the "Company") (NYSE Euronext: PHARM) todayannounces that the offer on the conversion of bonds (issued in 2007)into a combination of cash and shares, which was announced onSeptember 21, 2009, has been closed.Pharming completed conversion of 70% of the outstanding nominalamount of the bonds, as was announced on October 8, 2009. The totalamount of outstanding convertible debt has been reduced from ? 35.8million to ? 10.9 million in return for ? 3.7 million cash paid tothe converting bondholders and 29.4 million newly issued shares. As aresult from several transactions in the last ten months, the originalconvertible debt of ? 70.0 million was reduced by ? 59.1 million fora total consideration of ? 8.6 million in cash and a total of 45.1million shares. Annual interest payments are now reduced from ? 4.8million to ? 0.7 million.About Pharming Group NVPharming Group NV is developing innovative products for the treatmentof genetic disorders, ageing diseases, specialty products forsurgical indications, and nutritional products. Pharming's leadproduct Rhucin® for acute attacks of Hereditary Angioedema has passedclinical development stage and the Market Authorization Applicationis under review with EMEA. Prodarsan® is in early stage clinicaldevelopment for Cockayne Syndrome and lactoferrin for use in foodproducts The advanced technologies of the Company include innovativeplatforms for the production of protein therapeutics, technology andprocesses for the purification and formulation of these products, aswell as technology in the field of DNA repair (via DNage). Additionalinformation is available on the Pharming website,http://www.pharming.com.This press release contains forward looking statements that involveknown and unknown risks, uncertainties and other factors, which maycause the actual results, performance or achievements of the Companyto be materially different from the results, performance orachievements expressed or implied by these forward lookingstatements.Contact:Ms. Marjolein van Helmond, Pharming Group NV, T: +31 (0)71 52 47 431or +31 (0)6 109 299 54http://hugin.info/132866/R/1347311/323902.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 13.10.2009 - 18:15 Uhr
Sprache: Deutsch
News-ID 6871
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