14 May 2008 16:45
Phorm, Inc.
("Phorm" or the "Company")
Exercise of options
The Company (AIM: PHRM and PHRX) announces that 13,639 share options over common shares of $0.001 each in the capital of the Company ("Common Shares") were exercised by employees on 12 May 2008.
Application has been made for the 13,639 Common Shares issued pursuant to the option exercise to be admitted to trading on AIM.
The shares will rank pari passu with existing Common Shares and it is expected that admission will occur at 8.00am on 20 May, 2008.
Following the issue of these shares the Company will have 13,844,863 voting common shares in issue, none of which are in treasury.
For Enquiries:
| Phorm, Inc. | +44 870 405 7722 |
| Kent Ertugrul (Chairman & Chief Executive) | |
| Citigate Dewe Rogerson | +44 20 7638 9571 |
| Simon Rigby | |
| Justin Griffiths | |
| Canaccord Adams Limited | +44 20 7050 6500 |
| Nominated Adviser | |
| Mark Williams | |
| Andrew Chubb |