PHRM.L Regulatory News (PHRM)

11 Mar 2008 07:02

Phorm Inc11 March 2008 Phorm, Inc. ("Phorm" or the "Company") Announcement of Fundraising Statement re: Share Price Movement Phorm (AIM: PHRM and PHRX), the advertising technology company, notes the recentmovement in its share price. It confirms that it is not aware of anyundisclosed commercial factors that would have had such an effect. The Company can confirm that it is in the course of conducting a roadshowregarding a potential institutional equity fundraising for up to $65 millionwith brokers Morgan Stanley and Canaccord Adams, further details of which willbe announced in due course. Phorm continues to make good progress with BT, Talk Talk and Virgin Media interms of implementing its online advertising platform, the Open InternetExchange (OIX), and a free consumer internet feature, Webwise, which results infewer irrelevant advertisements and additional protection against fraudulentwebsites. Implementation is on track and consumer trials are expected to beginin due course, after which a full roll out across these networks is expected tocommence. Phorm also continues to be in advanced discussions with other ISPs both in theUK and other markets regarding the adoption of OIX and Webwise and will providea further update to the market once these discussions are concluded. In addition, since announcing the launch of OIX and Webwise on 14 February 2008,Phorm has made significant progress with the publishing and advertisingcommunity and is delighted with the enthusiastic response it has received todate. The Company is also aware of some recent press speculation regarding certainaspects of Phorm's technology, including some misconceptions which we are takingsteps to address, and would like to clarify the following points: • Phorm will never store any personal information, or anything that can identify a user. The only information stored is an anonymous random number assigned to a user's browser, the advertising categories that match their areas of interest and a time stamp • Users will have a clear choice whether to switch Webwise on or off • Our technology complies with the Data Protection Act, RIPA and other applicable UK laws • Phorm is committed to open and transparent disclosure. Prior to its announcement on 14 February 2008, the Company initiated a dialogue with the Information Commissioner's Office, together with many other leading stakeholders in the area of online privacy, to share details of its technology which Phorm believes sets a new 'gold standard' on privacy and anonymity. The reactions we have received to date have been very encouraging. Further details are available at Phorm's website www.phorm.com For Phorm Enquiries: Kent Ertugrul (Chairman & Chief Executive) +44 20 7638 9571Lynne Millar (Chief Financial Officer) Citigate Dewe Rogerson +44 20 7638 9571Simon RigbyJustin Griffiths Canaccord Adams Limited +44 20 7050 6500(Nominated Adviser)Mark WilliamsAndrew Chubb About Phorm: Phorm is an innovative technology company specialising in deliveringbehaviourally and contextually targeted advertising while preserving users'personal privacy and security. Phorm's partners include leading Internet Service Providers (ISPs), Publishers <http://www.phorm.com/partners/publishers.php> , Ad Networks and Advertisers . Phorm is a Delaware, US incorporated company, with offices in New York andLondon. The Company was admitted to the AIM market of the London Stock Exchangein 2004 and has over 100 employees. For more information, please visit: www.phorm.com This communication is directed only at persons in member states of the EuropeanEconomic Area who are qualified investors within the meaning of Article 2(1)(e)of the Prospectus Directive (2003/71/EC) ("Qualified Investors"). Thiscommunication is only directed at (i) investment professionals falling withinArticle 19(5) of the Financial Services and Markets Act 2000 (FinancialPromotion) Order 2005 (the "Order") or (ii) high net worth entities, and otherpersons to whom it may lawfully be communicated, falling within Article 49(2)(a)to (d) of the Order (all such persons, together with Qualified Investors, beingreferred to as "relevant persons"). The securities the subject of the abovefundraising are only available to, and any invitation, offer or agreement tosubscribe, purchase or otherwise acquire such securities will be engaged in onlywith, relevant persons. Any person who is not a relevant person should not actor rely on this communication or any of its contents. This release does not contain or constitute an offer to sell or a solicitationof an offer to purchase securities in the United States or any otherjurisdiction. The securities of Phorm have not been and will not be registeredunder the U.S. Securities Act of 1933 (the "Securities Act") and may not beoffered or sold in the United States or to U.S. persons absent registration oran exemption from registration under the Securities Act. In addition, hedgingtransactions involving the above securities may not be conducted except incompliance with the Securities Act. Canaccord Adams Limited and Morgan Stanley & Co. International plc areauthorised and regulated by the Financial Services Authority for the conduct ofUK business, are acting for the Company and no one else, and will not beresponsible to anyone other than Phorm for providing the protections afforded totheir respective clients. This information is provided by RNS The company news service from the London Stock Exchange