Brian Goodman, CEO of Golden Matrix Group Inc. explains how they stay one step ahead of their rivals. Watch the interview here.

Less Ads, More Data, More Tools Register for FREE
Sponsored Content
Sponsored Content

Loan Repayment

26 Jul 2010 07:00

RNS Number : 8773P
Forbidden Technologies PLC
26 July 2010
 



26 July 2010

 

Forbidden Technologies plc

 ("Forbidden" or "the Company")

 

 

Loan Repayment

 

 

Forbidden Technologies (AIM: FBT), the AIM quoted developer of the market leading Cloud video platform FORscene, is pleased to announce that following the exercise of option announcement and receipt of £144,000 on Friday 23 July, the Board has decided to repay the entire £78,500 outstanding loan given to the Company by Vic Steel, the Company's Chairman.

The repayment of this loan to Vic Steel will also end the Company's interest payments of 10 per cent per annum on this loan.

Stephen Streater, Chief Executive of the Company, is currently not charging interest on the loan he has made to the Company, which has stood at £706,500 for the last year.

The Company has no other loans.

 

 

-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
 
 
STREAXXDAFDEEFF

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.

Free Investment Tools

Register for FREE

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.