Award of share options

RNS Number : 4764K

Forbidden Technologies PLC

21 August 2012

 



21.08.12

Forbidden Technologies plc

("Forbidden" or the "Company")

Award of share options

The Board of Forbidden Technologies plc (AIM:FBT), the AIM quoted owner and developer of the FORscene cloud video platform, resolved on 20 August 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 26p, being the closing mid-market share price on 20 August 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                       40,000                                       EMI

Phil Madden                  40,000                                       EMI

Greg Hirst                     40,000                                       EMI

David Main                   40,000                                       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 240,000 Forbidden ordinary shares of 0.8p each were awarded to other Forbidden employees under the EMI scheme.

Stephen Streater, CEO of Forbidden Technologies plc, said: "We are committed to motivating our team to think like shareholders by giving them a long-term equity interest in the company."

-Ends-

About Forbidden Technologies

Forbidden Technologies plc (AIM:FBT, www.forbidden.co.uk) floated 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 and mobile applications, operating in the cloud.

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

Forbidden Technologies plc

Stephen Streater, CEO

Tel: [phone]

N+1 Brewin

Aubrey Powell, Nominated Adviser

Derrick Lee, Corporate Finance

Tel: [phone]

Cenkos Securities plc, Broker

Adrian Hargrave, Corporate Finance

Alex Aylen, Sales

Tel: [phone]

Bishopsgate Communications

Nick Rome / Sam Allen/ Matt Low

Tel: [phone]

[e-mail] 

 

END

 

 

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