PHRM.L Regulatory News (PHRM)

18 Jun 2007 07:01

Phorm Inc18 June 2007 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA Phorm, Inc. ("Phorm" or the "Company") Additional Listing Placing of 434,000 new common shares of $0.001 (the "Placing Shares") at £35 per share (the "Placing Price") to raise approximately £15 million (US$30 million) before expenses (the "Placing") Further to our announcement on June 15 2007, Phorm (AIM: PHRM and PHRX), aninnovative technology company specialising in behavioural and contextualonline advertising, today announces that Canaccord Adams Limited, on behalf ofthe Company, has conditionally placed 434,000 new common shares of $0.001("Common Shares") at £35 per share, to raise approximately £15 million (US$30million) before expenses. The Placing is conditional, inter alia, uponadmission of the Placing Shares to trading on AIM. Application will be made for the Placing Shares to be admitted to trading onAIM and trading is expected to commence on 22 June 2007. The Placing Shareswill represent approximately 3.66 per cent. of the enlarged issued common share capital of the Company. Phorm intends to use the proceeds from the Placing to continue theimplementation of its innovative behaviourally and contextually targetedadvertising technology platform with Internet Service Providers (ISPs) and for general working capital. Commenting on the investment, Kent Ertugrul, Phorm Chairman and CEO said, 'Weare delighted that we have received further endorsement of our offering andstrategy via today's share placing. We continue to see high levels of interestin Phorm's behaviourally and contextually targeted technology frominstitutions and global ISPs." Enquiries: 121 Media, Inc. +44 870 405 7722Kent Ertugrul (Chairman & Chief Executive)Edelman Financial PR +44 20 7344 1325Paul Lockstone +44 7876 685200Sorrel Beynon +44 20 7344 1253 +44 7980 687 255Canaccord Adams Limited +44 20 7050 6500Nominated AdviserMark Williams/ Andrew Chubb This information is provided by RNS The company news service from the London Stock Exchange