LEIDEN, NETHERLANDS--(Marketwire - March 07, 2011) - Pharming Group NV ("Pharming" or "the
Company") (NYSE Euronext: PHARM) today announced that Socius CG II, Ltd, a
subsidiary of Socius Capital Group, LLC ("Socius"), based in New York and
Los
Angeles, exercised all 24,339,623 warrants under the EUR16.1 million
investment
agreement entered into with Pharming in December 2010.
Under the terms of the agreement, Socius received 24,339,623 warrants with
an
exercise price of EUR0.212 (21.2 cents), which have now been exercised.
Payment
of the exercise takes place through a cash consideration of EUR0.04 per
share
(EUR973,584.92) and issuance of a Promissory Note for the remaining
consideration
of EUR4,186,415.08.
As of December 31, 2010, Pharming had 436,261,010 shares outstanding. The
new
number of outstanding shares is 461,116,470 comprising the previous balance
and
including the exercise of the warrants by Socius (24,339,623) and shares
(515,837) issued as part consideration of bonus payments to Pharming staff.
About Pharming Group NV
Pharming Group NV is developing innovative products for the treatment of
unmet
medical needs. Ruconest™ (Rhucin® in non-European territories) is a
recombinant human C1 inhibitor approved for the treatment of angioedema
attacks
in patients with HAE in all 27 EU countries plus Norway, Iceland and
Liechtenstein. The product is also under development for follow-on
indications,
i.e. antibody-mediated rejection (AMR) and delayed graft function (DGF)
following kidney transplantation. The advanced technologies of the Company
include innovative platforms for the production of protein therapeutics,
technology and processes for the purification and formulation of these
products.
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.
Press release (PDF):
http://hugin.info/132866/R/1494821/430628.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#1494821]
