Loan Repayment

RNS Number : 2142V

Forbidden Technologies PLC

29 October 2010

 



29 October 2010

Forbidden Technologies plc

 ("Forbidden" or "the Company")

Loan Repayment

Forbidden Technologies (AIM: FBT), the AIM quoted developer of the market leading Cloud video platform FORscene, announces that following the Placing announced on 14 October, the Board has now repaid the entire outstanding loan of £706,500 due to Stephen Streater, Chief Executive Officer of the Company. The loan agreement remains in place until the end of 2011 with a £215,000 loan facility. However, the Company now has over £1 million in cash and does not anticipate that it will need to use this facility.

The Company has no outstanding loans.

-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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