Advance VCT and EIS assurance for fund raising

RNS Number : 6405H

Forbidden Technologies PLC

24 June 2013

 



                                                                                                                        24.06.13

Forbidden Technologies plc

("Forbidden" or the "Company")

Advance VCT and EIS assurance for fund raising

Forbidden Technologies (AIM: FBT), the AIM-quoted owner and developer of the market leading Cloud video platform, FORscene, announces that, in the light of the conditional Firm Placing and Open Offer to raise up to £9 million announced on 20 June 2013, the Company has now received assurance from HM Revenue and Customs that, on the basis of the information provided, the new Ordinary Shares will be eligible (subject to the circumstances of investors) for tax reliefs under EIS and for investment by VCTs.

Information about EIS and VCT is published in section 6 of Part 1 of the circular sent to shareholders last week.

-Ends-

For more information, please visit www.forbidden.co.uk or contact:

Forbidden Technologies plc

Stephen Streater, CEO

Tel: [phone]

Cenkos Securities plc, Nominated Adviser and Broker

Adrian Hargrave, Corporate Finance

Alex Aylen, Sales

Tel: [phone]

Bishopsgate Communications

Nick Rome / Sam Allen / Matthew Low

Tel: [phone]

[e-mail]

Notes for editors

About Forbidden Technologies

Forbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) floated in February 2000.

The Company develops and markets a powerful cloud 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 and mobile applications.

 

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