24 May 2016 07:00
24 May 2016
FastForward Innovations Limited
("FastForward" or the "Company")
Issue of Equity
FastForward announces it has received notice to exercise warrants over 855,031 ordinary shares of 1p each in the Company (the "Ordinary Shares") at an exercise price of 3.32p per Ordinary Share for a total consideration of £28,387.03. These warrants were issued to an adviser as part of the Company restructuring undertaken in November 2014. Accordingly, the Company has issued 855,031 new Ordinary Shares in settlement of this exercise (the "Warrant Exercise"). The proceeds will be invested in line with the Company's investing policy.
The new Ordinary Shares will rank pari passu with the existing Ordinary Shares and application is being made for the new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the new Ordinary Shares will commence at 8.00 a.m. on or around 27 May 2016.
Following the Warrant Exercise, the Company's issued share capital consists of 134,963,476 Ordinary Shares. 3,158,623 Ordinary shares are held in Treasury. For reporting under the FCA's Disclosure and Transparency Rules, Shareholders should exclude any shares held in Treasury and should use the figure of 131,804,853 Ordinary Shares (the issued voting share capital) when determining if they are required to notify their interest, or a change of their interest in the Company.
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For further information please visit www.fstfwd.co or contact:
FastForward Innovations Limited Tel: +44 1481 810 100 Elysium Fund Management Limited
Beaumont Cornish Limited (Nomad) Tel: +44 (0) 207 628 3396 James Biddle / Michael Cornish
Peterhouse Corporate Finance Limited (Broker) Tel: +44 (0) 20 7469 0930 Guy Miller / Lucy Williams