Exercise of Options

1 Feb 2008 08:55

Phorm Inc01 February 2008 Phorm, Inc. ("Phorm" or the "Company") Exercise of options and grant of restricted shares The Company (AIM: PHRM and PHRX) announces that 25,834 share options over commonshares of $0.001 each in the capital of the Company ("Common Shares") wereexercised by employees on 31 January 2008. In addition, 30,000 Common Shares were issued under Phorm's restricted shareemployee incentive plan ("RSP"), on 31 January 2008, which will vest over a fouryear period. Application has been made for the 25,834 Common Shares issued pursuant to theoption exercise and the 30,000 Common Shares issued pursuant to the RSP to beadmitted to trading on AIM. The shares will rank pari passu with existingCommon Shares and it is expected that admission will occur at 8.00am on 7February, 2008. Following the issue of these shares the Company will have12,221,224 voting common shares in issue, none of which are in treasury. For Enquiries Phorm, Inc. +44 870 405 7722Kent Ertugrul (Chairman & Chief Executive) Citigate Dewe Rogerson +44 20 7638 9571Simon Rigby Justin Griffiths Canaccord Adams Limited+44 20 7050 6500Nominated AdviserMark WilliamsAndrew Chubb This information is provided by RNS The company news service from the London Stock Exchange