Award of share options

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: [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

Deepali Schneider / Lynne Goulding

Tel: [phone]

[e-mail]

 

END

 

 

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