Exercise of Option

RNS Number : 0685A

Forbidden Technologies PLC

26 January 2011

 



26 January 2011

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 partially exercised its Option, as granted at the time of the share subscription announced on 27 July 2010, and thereby subscribed to a further 250,000 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 1^st February 2011.

Following the issue of the New Shares, the Company's enlarged issued share capital consists of 86,419,500 New Ordinary shares of 0.8 pence per share.

SF t1ps retains an option to subscribe for a further 240,000 New Ordinary shares of 0.8p at an exercise price of 24 pence per share subject to the conditions as previously announced.

The Option was originally held by Rivington Street Ventures ("RSV"), an Isle of Man based subsidiary of Rivington Street Holdings plc, and transferred to the SF t1ps fund in November 2010.

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About Forbidden Technologies

Forbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) floated 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.

Enquiries

Forbidden Technologies plc                                                       Tel: [phone]

Stephen Streater, CEO

Brewin Dolphin                                                                                Tel: [phone]

Neil Baldwin, Nominated Advisor

Bishopsgate Communications                                                   Tel: [phone]

Duncan McCormick/Deepali Schneider/Natalie Quinn

 

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