Pharming Group (PHARM): Pharming Redeems Fourth Tranche Of Conve...

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Wednesday, 04/11/2012 7:03:16 AM

Wednesday, April 11, 2012 7:03:16 AM

Pharming Redeems Fourth Tranche Of Convertible Bond

Leiden, The Netherlands, April 11, 2012. Biotech company Pharming Group NV (“Pharming” or “the Company”) (NYSE Euronext: PHARM) today announced that it has redeemed the fourth tranche of its €8.4 million convertible bond. A total of 22,051,282 shares were issued to the bondholders under the terms and conditions of the bond, serving as a pre-installment for the May 15, 2012 redemption and interest payment.

As announced in our press release on December 23, 2011, Pharming will redeem the bond on a month by month basis in six equal monthly tranches of €1.4 million and the interest payable, such that the bond will be redeemed in full on July 15, 2012. Pharming can decide at its discretion to redeem the bond and pay the interest due, by means of monthly equity tranches or cash payments.

As of today, the number of outstanding shares has increased from 561,503,681 to 583,554,963.