Leiden, The Netherlands, 23 October 2017: Pharming Group N.V. (“Pharming” or “the Company”) (EURONEXT: PHARM) today announced that since the release of its update regarding cashless and other warrant exercises and bond conversions on 10 August 2017, it has issued 12,548,663 new shares to holders of warrants who have exercised those warrants, and to holders of its ordinary convertible bonds due 2021 who have converted their Bonds into shares.
Pharming announces warrant exercises and conversions of its Ordinary Bonds into shares mostly through cashless exercise
•Net result is a reduction of the fully diluted share capital by 8,212,468 shares
•Total number of shares issued in warrant exercises, option exercises and bond conversions since the last update on 10 August 2017 is 12,548,663 ordinary shares
•Number of warrants and options exercisable has been reduced by 20,320,993 to 30,489,893 which represents less than 5.8% of the outstanding shares
•8,212,468 shares recovered through cashless exercise represent 1.5% of the issued share capital, and therefore 1.5% lower dilution of shareholders in the future
•Cash receipts from these latest exercises total €0.5 million
•Amount of Ordinary Bonds due 2021 has been reduced further from €11.6 million to €11.5 million