Last checked at 9 May 2012 07:00
09.05.12
Forbidden Technologies plc
("Forbidden" or the "Company")
Award of share options
The Board of Forbidden Technologies plc, the owner and developer of the FORscene Cloud video platform, resolved on 5 May 2012 to award options over its ordinary shares of 0.8p each under its EMI scheme ("EMI"), adopted at the AGM on 27 April 2012, and the Forbidden Technologies unapproved scheme ("Unapproved"). The options have an exercise price of 24.5p, being the closing mid-market share price on 4 May 2012 (the latest possible date prior to the date of award) and are normally exercisable after three years.
The options awarded to directors are as follows:
Director Number of options Scheme
Vic Steel 100,000 EMI
Phil Madden 75,000 EMI
Greg Hirst 100,000 EMI
David Main 75,000 Unapproved
David Main, a non-executive director, has his options under the unapproved share options scheme as he does not meet the working hour requirements of EMI.
In addition, options over 550,000 Forbidden ordinary shares of 0.8p each were awarded to other Forbidden employees under the EMI scheme.
Stephen Streater, CEO of Forbidden Technologies plc, comments:
"This issue of options continues our commitment to incentivising our team members".
-Ends-
For more information, please visit www.forbidden.co.uk or contact:
Forbidden Technologies plc
Stephen Streater, CEO
Tel: +44 (0)20 8879 7245
N+1 Brewin
Aubrey Powell, Nominated Adviser
Derrick Lee, Corporate Finance
Tel: +44 (0)20 3201 3170
Cenkos Securities plc, Broker
Adrian Hargrave, Corporate Finance
Alex Aylen, Sales
Tel: +44 (0)20 7397 8900
Bishopsgate Communications
Deepali Schneider / Lynne Goulding
Tel: +44 (0)20 7562 3350
forbidden@bishopsgatecommunications.com