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Pharming receives shareholders' approval for share issue.

M2 PHARMA-February 3, 2012-Pharming receives shareholders' approval for share issue(C)2012 M2 COMMUNICATIONS

3 February 2012 - Dutch biotech Pharming Group NV (AMS:PHARM) said today its shareholders had authorised at an extraordinary meeting the issue of 255m new shares.

The company's share capital will thus rise to 805m shares.

Pharming also said it had presented to the shareholders alternatives to deal with its negative equity situation. The company pointed it expects a milestone payment of up to USD15m (EUR11.5m) from successful finalisation of a US study.

Pharming announced last December a negative equity capital referring to among others changes needed to comply with the IFRS accounting requirements.

(USD1 = EUR0.764)

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Publication:M2 Pharma
Date:Feb 3, 2012
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