Exercise of Option

RNS Number : 8582P

Forbidden Technologies PLC

23 July 2010

 



23 July 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 the SF t1ps Smaller Companies Growth Fund ("SF t1ps") has further exercised its option, as granted at the time of the share subscription announced on 28 July 2009, and thereby subscribed to a further 1,200,000 New Ordinary shares of 0.8p at an exercise price of 12 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 Thursday 29 July 2010.

Following the issue of the New Shares, the Company's enlarged issued share capital consists of 81,162,500Ordinary shares of 0.8 pence per share.

Following this transaction, SF t1ps no longer holds any Options in the Company. 

-Ends-

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

Forbidden Technologies plc

Tel: [phone]

Stephen Streater, Chief Executive

Brewin Dolphin Investment Banking

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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