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Phorm Corporation (PHRM)

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Wednesday 26 March, 2014

Phorm Corporation

Intention to raise ?10 million

RNS Number : 2862D
Phorm Corporation Limited
26 March 2014
 

NEITHER THIS ANNOUNCEMENT NOR ANY PART OF IT CONSTITUTES AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE OR ACQUIRE ANY NEW ORDINARY SHARES IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL. THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL. PERSONS INTO WHOSE POSSESSION THIS ANNOUNCEMENT COMES ARE REQUIRED BY THE COMPANY AND MIRABAUD SECURITIES LLP TO INFORM THEMSELVES ABOUT AND TO OBSERVE ANY SUCH RESTRICTIONS.

 

26 March 2014

 

Phorm Corporation Limited

("Phorm" or the "Company")

 

Intention to raise £10 million gross

 

Phorm (AIM: PHRM), a leading internet personalisation technology company, announces that it intends to raise approximately £10 million before expenses, by way of a placing of new ordinary shares of nil par value each in the capital of the Company (the "Placing Shares") with certain new and existing institutional and other investors, at or around the current market share price (the "Placing"). The proposed Placing will be led by Mirabaud Securities LLP ("Mirabaud"), acting as sole Bookrunner (the "Bookrunner") and is not being underwritten.

 

The final offering price and total number of Placing Shares to be issued pursuant to the proposed Placing will be determined following the completion of Mirabaud's book-building process. The book will open with immediate effect and close at the sole discretion of the Bookrunner. Details of the number of Placing Shares offered and price at which they are offered will be announced as soon as practicable after the close of the book-building process.

 

Phorm intends to use the net proceeds raised from the proposed Placing for the Group's general working capital purposes.

 

Operational update

 

The Company has continued to make excellent progress and in March 2014 reached a total of over 30 million daily unique users and is now deployed across nine ISPs.

-Ends-

 

 

For further information please contact:

 

Phorm Corporation Limited

Andy Croxson (analysts and investors) +44 (0) 203 397 6001

 

UK Investors

Mirabaud Securities LLP +44 20 7321 2508 (Broker)

Jason Woollard

Peter Krens

 

Strand Hanson Limited +44 20 7409 3494 (Nominated Adviser)

James Harris

Matthew Chandler

James Dance

 

US Investors

Lippert/Heilshorn and Associates +1 212 838 3777 (Investor Relations)

John Heilshorn

 

About Phorm

 

Phorm is a global personalisation 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 Internet Service Provider ("ISP") partners to offer a new type of online advertising platform and a free consumer internet content feature, ensuring more relevant advertisements and personalised content for opted-in users.

 

Phorm's advertising platform revolutionises 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 ISPs, Publishers, Advertising Networks and Advertisers.

 

Phorm, under a predecessor holding company, was admitted to the AIM market of the London Stock Exchange in 2004.

 

For more information, please visit: www.phorm.com

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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