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Option Agreement

27 Jul 2010 15:17

RNS Number : 0111Q
Forbidden Technologies PLC
27 July 2010
 



27 July 2010

 

Forbidden Technologies plc

 ("Forbidden" or "the Company")

 

 

Option Agreement

 

 

Forbidden Technologies (AIM: FBT), the AIM quoted developer of the market leading Cloud video platform FORscene, has agreed to grant to Rivington Street Ventures ("RSV") an option (the "Option") to subscribe for 500,000 new ordinary shares of 0.8p each in the Company (the "Option Shares") at 24p per share (the "Option Price"). This grant follows the success of last year's option grant to the SF t1ps Smaller Companies Growth Fund.

RSV and t1ps Investment Management Limited, the fund manager for the t1ps Smaller Companies Growth Fund, both have Rivington Street Holdings plc as their ultimate controlling company.

The Option is being granted in consideration of the payment by RSV to the Company of the sum of £5,000.

The initial term of the Option is four months; however if the Option is partially exercised within the first four months, the Option to exercise the remaining shares will be extended for a further eight months (26 July 2011).

Commenting on the Option Agreement, Stephen Streater CEO of Forbidden Technologies, said: "As interest in Forbidden Technologies mounts, Forbidden's Board is keen to avoid potential liquidity shortages in the market for Forbidden shares. This option, with an exercise price at a 55% premium to the current market price, will be available to ease potential share shortages, in turn increasing liquidity and generating greater shareholder value."

 

-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 Corporate Advisory & Broking

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.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
AGRUBASRRVABUAR
Date   Source Headline
16th Mar 20167:00 amRNSAgreement with Microsoft
14th Mar 20164:14 pmRNSExercise of Options
11th Mar 20167:00 amRNSFirst South African public sector sale
8th Mar 20167:00 amRNSPreliminary Results
1st Mar 20167:00 amRNSAgreement with IMG Media
29th Feb 20167:00 amRNSNotice of Results
4th Feb 20167:00 amRNSFirst paid eva channel
20th Jan 20167:00 amRNSOperational update
15th Jan 20167:00 amRNSABC Network affiliates adopt Forscene
16th Dec 20157:00 amRNSNew eva channel
7th Dec 20157:00 amRNSChange of Adviser
2nd Dec 20157:00 amRNSClimate Change Summit
1st Dec 20157:00 amRNSDirector Change of Information
26th Nov 20157:00 amRNSUS Client Win
19th Nov 20157:00 amRNSGrant of Share Options
17th Nov 20157:00 amRNSDirectorate Change
9th Nov 20157:22 amRNSeva's first branded channel partnership
4th Nov 20157:00 amRNSNew US Agreement
2nd Nov 20157:00 amRNSDirectorate Change
6th Oct 20157:00 amRNSDirectorate Changes
3rd Sep 20157:00 amRNSInterim Results
27th Aug 20157:01 amRNSNotice of Results
5th Aug 20157:00 amRNSNew Video Codec
14th Jul 20157:00 amRNSeva available for download on iOS
9th Jul 20157:00 amRNSeva Launch
30th Jun 201512:28 pmRNSPosting of Annual Financial Report
26th Jun 20157:00 amRNSGrant of Share Options
8th Jun 20153:29 pmRNSResult of AGM
8th Jun 20157:00 amRNSAGM Statement
1st Jun 20157:00 amRNSBoard Changes
12th May 20157:01 amRNSGrant of Share Options
11th May 20157:00 amRNSNew Sports Post Production Agreement
5th May 20157:01 amRNSConsumer video editor named 'Captevate'
2nd Apr 20157:00 amRNSPreliminary Results
24th Mar 20152:10 pmRNSNotice of Results
29th Jan 20157:00 amRNSPre-Close Trading and Strategy Update
27th Jan 20152:16 pmRNSTR1 Notification of Major Interest in Shares
8th Jan 20157:00 amRNSStrategic Update and Board Change
2nd Dec 20147:00 amRNSTrading Update
4th Nov 20147:00 amRNSUpdate on eva
2nd Oct 20147:00 amRNSFirst Canadian Forscene Service Provider
30th Sep 20147:00 amRNSUpdate on eva
25th Sep 20149:46 amRNSGrant of share options
22nd Sep 20147:00 amRNSIBC Summary
1st Sep 20147:00 amRNS"eva", Forbidden's new social video platform
11th Aug 20147:00 amRNSForscene now available for iPad
28th Jul 20147:00 amRNSInterim Results
14th Jul 20147:00 amRNSNotice of Results
17th Jun 20147:00 amRNSGiant Pirates Entertainment adopts Forscene
6th Jun 201412:26 pmRNSResult of AGM

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