AFM Portaal en AFM-website niet bereikbaar komend weekend
Vanaf vrijdag 4 oktober 21.00 uur tot zondag 6 oktober 21.00 uur is het AFM Portaal niet bereikbaar. Vanaf zaterdag 5 oktober 06.00 uur tot zondag 6 oktober 21.00 uur is de AFM-website niet bereikbaar.
Pharming Group N.V.
Hieronder vindt u informatie uit het register openbaarmaking voorwetenschap. Deze informatie is door de organisatie verstrekt.
Publicatie datum
08 dec 2008 - 17:41
Statutaire naam
Pharming Group N.V.
Titel
PHARMING ANNOUNCES REDUCTION OF € 20 MILLION DEBT AND IMPROVEMENT OF BALANCE SHEET
Bericht
Leiden, The Netherlands, December 8, 2008. Biotech company Pharming Group NV (“Pharming” or “the Company”) (NYSE Euronext: PHARM) announced today that it has reached an agreement with several holders of convertible bonds to cancel outstanding debt by payments in cash and shares.
Convertible bonds with a nominal value of € 20.1 million will be cancelled by a payment of € 3.8 million and conversion of the remaining € 16.3 million in shares at a valuation of € 2.64 per share. Total shares issued in relation to the conversion are approximately 6.2 million, increasing the Company’s number of outstanding shares after conversion to 97.4 million.
Convertible bonds with a total nominal value of € 70 million were issued by Pharming in October 2007. They have a 5 year lifetime and yield an annual nominal interest of 6.875%. Due to conditions in the global financial markets, several holders of these bonds have expressed their desire to redeem the bonds at an early stage albeit at a significant discount. Pharming considers this situation as an opportunity to strengthen its balance sheet at favorable terms for the Company.
Dr. Sijmen de Vries, Chief Executive Officer at Pharming, commented: “The transactions announced today are an important step in improving our balance sheet by reduction of debt and by increasing our equity position. We have been able to satisfy the short term needs of some of the convertible bond holders by combining them with our intention to strengthen our financial position. In addition, this debt settlement reduces our annual bond interest payments by approximately € 1.4 million. We look forward to arranging similar deals with other holders of convertible bonds. Pharming is well positioned for further growth with an improving balance sheet, promising products nearing the market, strong partnerships and a relatively strong financial position.
Gerelateerde downloads
Datum laatste update: 07 oktober 2024