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Phorm raises £10m of new money

Tue, 22nd Mar 2011 15:53

Targeted online advertising firm Phorm is raising £16.1m from the issue of loan notes with an annualised interest charge of 15%. Existing loan notes worth £6.1m will be cancelled so the net cash inflow will be £10m before expenses. The loan notes are repayable at the end of October 2013 and the interest will be added to the principal and paid at that time. If the loan notes are repaid before this date then the holders will receive 235,000 shares for each £1m repaid. Additional shares could also be issued if certain other things happen. One holder of the old loan notes can convert the new loan notes into shares after 15 months at a price of 75p a share. The others have to wait for 18 months. The loan notes are secured on non-cash assets and intellectual property. AIM-quoted Phorm has delivered a number of advertising campaigns in recent weeks and the results are encouraging. This has helped to indicate how ell the model will work. The initial business has been in Brazil and revenues are still modest.
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10 Mar 2014 11:46

Phorm Shares Up 19% As It Inks Agreement With China Telecom

LONDON (Alliance News) - Shares in Phorm Corporation Ltd rose 19% Monday after it said it had inked a memorandum of understanding with China Telecom Corporation Ltd to become its strategic parter for 'Big Data' and advertising. Phorm operates an opt-in online advertising platform that prote

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27 Jan 2014 11:43

Phorm Corporation Launches Commercial Operations In China

LONDON (Alliance News) - Phorm Corporation Ltd Monday said it has now launched commercial operations in China. The personalisation technology company operates an opt-in online advertising platform that protects users privacy whilst making content and advertising more relevant to them. Read more

19 Nov 2013 13:41

Phorm Raises GBP10 Million In Share Placing, Readies Launch In China

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19 Nov 2013 08:07

AIM IN BRIEF: Centamin Further Reduces Stake In Nyota Minerals

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13 Nov 2013 12:11

Phorm Corp Shares Drop Back As Market Awaits Funding News

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24 Oct 2013 15:27

Phorm delights with bullish Turkish update

Share in internet monitoring outfit Phorm gained almost two-thirds on its reports of fast-growing user numbers in Turkey. The company, which recently shifted its head office from the US to Singapore to focus on Asian opportunities, said numbers of monthly active users had risen to 4.4m from 3.6m t

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4 Oct 2013 10:52

UK WINNERS & LOSERS: Carpetright Slips As Tate & Lyle Leads Blue-Chip Gainers

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3 Oct 2013 12:29

MARKET COMMENT: US Stocks Called To Open Lower, UK Shares Mixed

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3 Oct 2013 11:39

UK WINNERS & LOSERS: Phorm Jumps; Supermarkets Rebound

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3 Oct 2013 10:56

Phorm Shares Jump As It Launches Operations In China

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3 Oct 2013 10:30

Phorm soars after Chinese debut

In its first week of Chinese operations, internet monitoring company Phorm said it had averaged 4.3m users per day. Shares in the AIM-listed company, which was threatened with court action in the UK over its controversial Deep Packet Inspection internet browsing interception technology, soared on

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30 Sep 2013 07:42

Phorm Corp Loss Narrows, But Cash Burn Rate Higher

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27 Sep 2013 16:24

MARKET COMMENT: UK Stocks Close Mixed As US Budget Talks Continue

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27 Sep 2013 11:44

UK WINNERS & LOSERS: Energy Stocks Bounce But House Builders Slide

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27 Sep 2013 08:50

Phorm Share Price Shoots Up 107% Following Positive Update

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