|By Marketwired .||
|April 14, 2014 08:21 AM EDT||
SINGAPORE -- (Marketwired) -- 04/14/14 --
NOT FOR PUBLICATION, RELEASE ORDISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION,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.
14 April 2014
Phorm Corporation Limited
("Phorm" or the "Company")
Result of Extraordinary General Meeting
Phorm (AIM: PHRM), a leading internet personalisation technology company, announces that the resolutions proposed at the Extraordinary General Meeting ("EGM") held earlier today, as set out in the formal notice of 27 March 2014, were all duly approved by shareholders. The purpose of the EGM was to seek shareholder approval to revise the relevant board authority to allot the Company's shares and other equity and convertible securities. This revised authority enables the Company to give effect to the Placing announced on 27 March 2014.
Further to the announcement of 27 March 2014, application has been made to the London Stock Exchange for admission of the Placing Shares to trading on AIM. Admission is expected to become effective and dealings in the 90,909,000 ordinary shares are expected to commence at 8.00 a.m. on Tuesday 15 April 2014. The Company's issued ordinary share capital will consist of 620,392,695 ordinary shares of nil par value each ("Ordinary Shares").
Further to the allotment of the Placing Shares, Viollette Company Limited ("Viollette") and Meditor European Master Fund Limited ("Meditor") are now interested in 210,994,286 Ordinary Shares and 221,672,251 Ordinary Shares respectively, representing approximately 34.01 per cent. and 35.73 per cent. respectively of the Company's enlarged issued ordinary share capital. In addition, Viollette and Meditor each hold GBP0.975m of secured convertible loan notes issued by the Company in April 2013 which, if converted, would increase their shareholdings in the Company to approximately 34.99 per cent. and 36.61 per cent. respectively.
Unless the context otherwise requires, defined terms used in this announcement shall have the meanings given to them in the circular dated 27 March 2014.
For further information please contact:
Phorm Corporation Limited
Andy Croxson (analysts and investors) +44 (0) 203 397 6001
Mirabaud Securities LLP +44 20 7321 2508 (Broker)
Strand Hanson Limited +44 20 7409 3494 (Nominated Adviser)
Lippert/Heilshorn and Associates +1 212 838 3777 (Investor Relations)
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.
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