Phorm Corporation Limited Result of EGM (7704E)
April 14 2014 - 7:40AM
UK Regulatory
TIDMPHRM
RNS Number : 7704E
Phorm Corporation Limited
14 April 2014
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INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN
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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.
-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.
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
END
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