21 Mar 2013 15:20
21 March 2013
Phorm Corporation Limited ("Phorm" or the "Company")
Statement re Share Price Movement
Phorm (AIM: PHRM), the internet personalization technology company, notes the recent movement in its share price.
It announced on 20 March 2013 that it has successfully raised funds through a placing of convertible secured loan notes with a new investor and that it has embarked on an equity funding round. In addition, the Company has embarked on a restructuring exercise to enable it to focus operationally on Turkey and China. This will result in a significant reduction in its cost base. The Company continues to make operational progress in Turkey and China, and accordingly it confirms that it knows no reason for the recent movement.
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Contact
Phorm Corporation LimitedMark Williams (analysts & investors) +44 20 7297 2326Lauren Hendry Parsons (media) +65 9656 1592
Liberum Capital +44 20 3100 2222 (Nominated Advisor and Joint Broker)Chris BowmanRichard Bootle
Mirabaud Securities LLP +44 20 7321 2508 (Joint Broker)Jason WoollardPeter Krens
Hudson Sandler +44 20 7796 4133Charlie JackCharlie Barker
About Phorm
Phorm is a global personalization 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 industry leading technology enables its ISP partners to offer a new type of online advertising platform and a free consumer internet content feature, ensuring more relevant advertisements and personalized content for opted-in users.
Phorm's advertising platform revolutionizes current standards of online privacy, fully protecting the identity of consumers. Unlike virtually all other targeted advertising propositions, Phorm's solution is completely opt-in. Only those users consenting to the service are profiled and only ever on an anonymous basis.
Phorm's partners include leading Internet Service Providers (ISPs), Publishers, Ad Networks and Advertisers.
Phorm, under a predecessor holding company, was admitted to the AIM market of the London Stock Exchange in 2004 and has over 140 employees and contractors.
For more information, please visit: www.phorm.com