Exercise of Option

RNS Number : 0723U

Forbidden Technologies PLC

08 October 2010

 



08 October 2010

Forbidden Technologies plc

 ("Forbidden" or "the Company")

Exercise of Option

Forbidden Technologies (AIM: FBT), the AIM-quoted developer of the market leading Cloud video platform FORscene, announces that Vic Steel, Chairman of the Company, yesterday exercised  his Option, granted under the Forbidden Technologies plc Unapproved Share Option Scheme on 21 September 2001, over 150,000 new ordinary shares of 0.8p in the Company at an exercise price of 25.5 pence per share.

As a result of this, the total beneficial holding of Mr. Steel is 962,500 Ordinary Shares, equivalent to 1.18 per cent of the Company's issued share capital.

The Company has today allotted these new ordinary shares. Application will be made for the new shares to be admitted to trading on AIM, and Admission is expected on 14 October 2010.

Following the issue of the new shares, the Company's enlarged issued share capital consists of 81,322,500 ordinary shares of 0.8 pence per share.

-Ends-

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

Forbidden Technologies plc

Tel: [phone]

Stephen Streater, Chief Executive

Brewin Dolphin

Tel: [phone]

Neil Baldwin, Nominated Advisor

Bishopsgate Communications

Tel: [phone]

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.

 

END

 

 

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