22 Oct 2008 17:14
22 October 2008
Phorm, Inc. ("Phorm" or the "Company")
Grant of Options
The Company (AIM: PHRM and PHRX) announces that on 21 October 2008, Steven J Heyer, non-executive Chairman of the Board, was granted options (the "Grant") to acquire 100,000 common shares in the Company (PHRM shares) at an option exercise price of £2.375 per share.
The options have a 10-year term and will vest in the following manner: 25,000 on 21 October 2008; 25,000 on 21 October 2009; 25,000 on 21 October 2010; and 25,000 on 21 October 2011 subject to his continued Board service.
Following the Grant, Mr Heyer holds a total of 150,000 options to acquire common shares in the Company.
For Phorm Enquiries:
| Kent Ertugrul (Chief Executive) | +44 20 7297 2481 |
| Lynne Millar (Chief Financial Officer) | |
| Citigate Dewe Rogerson | +44 20 7638 9571 |
| Simon Rigby | |
| Justin Griffiths | |
| Canaccord Adams Limited | +44 20 7050 6500 |
| (Nominated Adviser) | |
| Mark Williams | |
| Andrew Chubb | |