Forbidden Technologies plc (AIM: FBT), the AIM-quoted owner and developer of Forscene (the market-leading cloud video platform), Captevate (the consumer video editor), and eva (the video social network), has been notified by Vic Steel, the former Chairman of the Company, that on 14 March 2016 he exercised his option to purchase 100,000 ordinary shares of 0.8p each in the Company (“Ordinary Shares”). Mr Steel has indicated to the Company that he intends to hold these shares and not sell them.
The exercise price was 8.5 pence per Ordinary Share. The Company has applied for the Ordinary Shares to be admitted to trading on AIM (“Admission”) and it is expected that Admission will occur on 18th March 2016. The Ordinary Shares rank parri passu with the existing ordinary shares in the Company.
Following this transaction, the beneficial shareholding of Mr Steel is 1,199,500 ordinary shares, representing 0.91% of the ordinary shares in issue.
Following admission, the issued share capital of the Company will comprise 131,914,778 ordinary shares of 0.8 pence each, each with equal voting rights. The Company does not hold any ordinary shares in treasury. Therefore the total number of ordinary shares and voting rights in the Company is 131,914,778.
The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
Forbidden Technologies plc
Stephen Streater, Chairman
Aziz Musa, Chief Executive
Tel: +44 (0)20 8879 7245
Allenby Capital Limited (Nominated Adviser and Broker)
Tel: +44 (0)20 3328 5656
Redleaf Communications (Financial PR Adviser)
Tel: +44 (0)20 7382 4730
About Forbidden Technologies plc
Forbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) floated in February 2000.
The Company develops and markets a powerful cloud video platform, which is used by broadcasters, in professional web video, in education and by consumers. The Company platform is one of the world’s most advanced browser-based and mobile platforms, which underpins Forscene in professional markets, its eva video social network and its new consumer video editor, Captevate.