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Placing of shares to independent distributor
18th December, 2006
Forbidden Technologies plc ("Forbidden", AIM: FBT), announces the issue of 500,000 new
ordinary shares in Forbidden at a placing price of 15p per share to Mr. Sherwin Lim. Mr. Lim
is a founder of Formidable Technologies Inc. a distributor of Forbidden’s products based in Canada.
The placing raises £75,000 for Forbidden, which will contribute to the expansion of its FORscene platform
in broadcast post production and citizen journalism. Application is being made for these shares to be admitted
to trading on AIM and it is expected that dealings will commence on 22 December 2006.
Stephen Streater, Chief Executive of Forbidden Technologies, commented:
"Canada’s vast geographical scale plays to FORscene’s strengths as a web-based platform supporting
remote video editing and review. We are delighted that Sherwin Lim, a founder of Formidable, has further demonstrated
his commitment to FORscene through this investment."
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