Less Ads, More Data, More Tools Register for FREE

Award of share options

9 May 2012 07:00

RNS Number : 9272C
Forbidden Technologies PLC
09 May 2012
 

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

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCDMGGKVRKGZZM

Related Shares

Back to RNS

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.