Stmnt re Share Price Movement

15 Jun 2007 07:58

Phorm Inc15 June 2007 Phorm, Inc. ("Phorm" or the "Company") Phorm (AIM: PHRM and PHRX), an innovative technology company specialising inbehavioural and contextual online advertising, takes note of the recent rise inits share price. The Company confirms it is currently in the process of finalising aninstitutional placing of new shares. Phorm intends to use the proceeds from theplacing to continue the implementation of its innovative targeted advertisingtechnology platform with Internet Service Providers(ISPs) and for general working capital. Further the Company notes that it isenvisaged that the placing will be at a premium to Thursday's closing price. The Company continues to see high levels of interest from global ISPs to deploythe Company's platform throughout the world. The Company announces that it hasentered into heads of agreement with a number of ISPs. These heads of agreementset forth the basis under which these ISPs intend to deploy Phorm's technologyplatform. Enquiries: Phorm, Inc. Kent Ertugrul (Chairman & Chief Executive) +44 870 405 7722 Edelman Financial PR Paul Lockstone +44 7876 685200Sorrel Beynon +44 7980 687255 Canaccord Adams Limited Nominated Adviser Mark Williams/ Andrew Chubb +44 20 7050 6500 This information is provided by RNS The company news service from the London Stock Exchange