Proposed Director's Dealing

RNS Number : 9042G

FastForward Innovations Limited

07 March 2018

 

7 March 2018

FastForward Innovations Ltd

("FastForward" or the "Company")

Proposed Director's Dealing

FastForward Innovations Limited (AIM: FFWD) announces that Mr. Lorne Abony, FastForward's Chief Executive Officer, has informed the Board of his intention to sell 12,248,436 Ordinary Shares of 1p each  (representing 9.37 per cent. of the Company's issued share capital) in an off-market transaction at a price of £0.176 (17.6 pence) per share, for total consideration of £2,155,724 (the "Share Sale"). A further update announcement will be made once this sale has taken place.

The purchaser is intended to be Mr. Peter Saladino, a US entrepreneur with a background in property development and early-stage investments in the US and Canada. He currently serves on the Board of Golden Leaf Holdings Ltd (CNSX: GLH) and was a seed investor and strategic advisor to Nuuvera Inc.

FastForward CEO Lorne Abony commented, "Peter's intention to invest in the Company demonstrates his confidence in both the management of FastForward and our investment portfolio. I will remain Chief Executive Officer of the Company, one of its largest shareholders and completely committed to delivering results for all FastForward Shareholders in the future, despite the proposed sale of half of my shareholding."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

For further information please visit www.fstfwd.co or contact:

FastForward  Innovations Limited Tel: [phone] [e-mail] Ian Burns/Ed McDermott/Sue Saunders

Beaumont Cornish Limited (Nomad) Tel: [phone] James Biddle / Roland Cornish

Optiva Securities Limited (Broker) Tel: [phone] Graeme Dickson

 

END

 

 

STRBCGDXXBGBGIL