Oct 8, 2010
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 Companys 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 Companys 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: +44 (0) 20 8879 7245 Stephen Streater, Chief Executive
Brewin Dolphin Tel: 0845 213 4726 Neil Baldwin, Nominated Advisor
Bishopsgate Communications Tel: +44 (0) 7917 042 335 Gemma OHara 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 worlds most advanced browser-based applications, operating in The Cloud.