PHRM.L Regulatory News (PHRM)

RNS Number : 1555L

Phorm Inc

30 April 2010

 

30 April 2010

Phorm, Inc. ('Phorm' or 'the Company')

 

Grant of Options

 

Phorm (AIM: PHRM and PHRX), the internet personalisation technology company, announces that, as part of a company-wide incentive plan, on 30 April 2010 (the "Grant Date") its executive and non-executive directors were granted options to acquire, in aggregate, 1,607,811 common shares of no par value in the capital of the Company (PHRM shares) at an exercise price of £2.53 per share (each being an "Option"), being the close price on 22 April 2010 when the board approved the scheme. 

Details of the awards are as follows:

 

CEO & Interim Chair	No. Options Granted	Total No. Options Held
Kent Ertugrul*	1,517,811	2,404,457
Non-Executive Directors	No. Options granted	Total No. Options Held
Lord Norman Lamont	30,000	80,000
Kip Meek	30,000	130,000
Stephen Partridge-Hicks	30,000	130,000

 

The options have a 10-year term and the vesting commencement date shall be the first day of the month following the date upon which the quoted share price of Phorm (PHRM line) achieves a three month rolling average share price of £30 per share or more (the "Vesting Commencement Date"). Upon the Vesting Commencement Date, the Option for the relevant director shall be deemed to have vested at a rate of 1/36th of the original number of common shares subject to Option ("Shares") on the first day of each calendar month after the Grant Date (in each case rounded down to the nearest whole share), and shall continue to vest and become exercisable in a similar manner with respect to the balance of the Shares subject to Option until fully vested and exercisable, provided the director remains in service. If the Vesting Commencement Date does not occur within three years of the Grant Date, then the Option will expire.

*Mr. Ertugrul is also a "significant shareholder" as such term is defined by AIM Rules.

About Phorm:

Phorm is a global personalisation technology company that makes content and advertising more relevant to the consumer. Phorm's innovative platform preserves user privacy and delivers a more interesting online experience. Phorm's partners include leading Internet Service Providers (ISPs), Publishers, Ad Networks and Advertisers.

 

Phorm is a Delaware, US incorporated company, which was admitted to the AIM market of the London Stock Exchange in 2004 and has over 150 employees and direct contractors worldwide.

 

For more information, please visit: www.phorm.com

 

Enquiries:

 

Phorm, Inc

Sarah Simon (analysts & investors) +44 20 7297 2433

Alex Laity (media) +44 20 7297 2710

 

Citigate Dewe Rogerson +44 20 7638 9571

Justin Griffiths

Simon Rigby

 

Canaccord Adams Limited +44 20 7050 6500

(Nominated Adviser)

Mark Williams

Andrew Chubb

 

Evolution Securities Limited

(Joint Broker) 

Stuart Andrews +44 20 7071 4300

Adam Lloyd 

 

Mirabaud Securities LLP

(Joint Broker)

Rory Scott (ECM) +44 20 7878 3360

 

 

 

This information is provided by RNS

The company news service from the London Stock Exchange