Leiden, the Netherlands, 28 February 2013. Biotech company Pharming Group NV ("Pharming" or "the Company") (NYSE Euronext: PHARM) announced that at its Extraordinary General Meeting (EGM) of shareholders, held today, all proposals were approved, including an amendment of its articles of association effecting a 10:1 reverse share split and a reduction of the nominal value of the combined shares.
Pursuant to the reverse share split, every ten shares of Pharming with a nominal value of EUR 0.01 each will be combined into one share with a nominal value of EUR 0.10 each, and the nominal value of these new shares will be reduced to EUR 0.01 each.
Trading in the new shares with ISIN Code NL0010391025 will start on Tuesday 5 March 2013. No actions from shareholders are required.
Following the reverse share split, Pharming will have approximately 118.9 million shares outstanding with a nominal value of EUR 0.01 each.
Any shareholders that have specific questions on the reverse share split should contact their account bank.
About Pharming Group NV
Pharming Group NV is developing innovative products for the treatment of unmet medical needs. RUCONEST® 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, and is distributed in the EU by Swedish Orphan Biovitrum. RUCONEST® is partnered with Santarus Inc (NASDAQ: SNTS) in North America where the drug has completed Phase III clinical development. The product is also being evaluated for various follow-on indications. Pharming has a unique GMP compliant, validated rabbit platform for the production of recombinant human proteins that, with the EU approval of Pharming's rhC1 inhibitor, has proven capable of producing industrial volumes of high quality recombinant human protein in a significantly more economical way through low upfront capital investment and manufacturing costs, compared to current cell based technologies. Pharming now plans 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 (http://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: +31 524 7400
# # #
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
