Exercise of option

RNS Number : 6577T

Forbidden Technologies PLC

01 October 2010

 



1 October 2010

Forbidden Technologies plc

 ("Forbidden" or "the Company")

Exercise of Option

Forbidden Technologies (AIM: FBT),the AIM-quoted developer of the market leading Cloud video platform FORscene, announces that the Company has been notified that Rivington Street Ventures ("RSV"), an Isle of Man based subsidiary of Rivington Street Holdings plc, has partially exercised its Option, as granted at the time of the share subscription announced on 27 July 2010, and thereby subscribed to a further 10,000 New ordinary Shares of 0.8p at an exercise price of 24 pence per share.

The Company has today allotted these New Ordinary shares. Application will be made for the New Shares to be admitted to trading on AIM, and Admission is expected on 7 October 2010.

Following the issue of the New Shares, the Company's enlarged issued share capital consists of 81,172,500 New Ordinary shares of 0.8 pence per share.

RSV retains an option to subscribe for a further 490,000 New Ordinary shares of 0.8p at an exercise price of 24 pence per share subject to the conditions as previously announced.

-Ends-

For further information please visit www.forbidden.co.uk or contact:

Forbidden Technologies plc

Tel: [phone]

Stephen Streater, Chief Executive

Brewin Dolphin

Tel: [phone]

Neil Baldwin, Nominated Advisor

Bishopsgate Communications

Tel: [phone]

Gemma O'Hara

Siobhra Murphy

Notes to Editors

Forbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) listed in February 2000.

The Company develops and markets a powerful internet video platform, FORscene, which is used by broadcasters, in professional web video, in education and by consumers.  FORscene is one of the world's most advanced browser-based applications, operating in The Cloud.

 

END

 

 

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