Last checked at 8 Oct 2010 07:00
08 October 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 Vic Steel, Chairman of the Company, yesterday exercised his Option, granted under the Forbidden Technologies plc Unapproved Share Option Scheme on 21 September 2001, over 150,000 new ordinary shares of 0.8p in the Company at an exercise price of 25.5 pence per share.
As a result of this, the total beneficial holding of Mr. Steel is 962,500 Ordinary Shares, equivalent to 1.18 per cent of the Company's issued share capital.
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 14 October 2010.
Following the issue of the new shares, the Company's enlarged issued share capital consists of 81,322,500 ordinary shares of 0.8 pence per share.
-Ends-
For further information please visit www.forbidden.co.uk or contact:
Forbidden Technologies plc
Tel: +44 (0) 20 8879 7245
Stephen Streater, Chief Executive
Brewin Dolphin
Tel: 0845 213 4726
Neil Baldwin, Nominated Advisor
Bishopsgate Communications
Tel: +44 (0) 7917 042 335
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.