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AGM Statement
29th Jun, 2010
Forbidden Technologies Chairman, Vic Steel, will make the following comments
regarding current trading at the 2010 Annual General Meeting to be held today at
11.00am.
"Before addressing the formal motions of today’s meeting, I would like to give a
brief update on progress of the Company.
In the broadcast post-production market we are enjoying continued growth in the
number of productions using FORscene. We have been involved in more than three
times as many productions than we were in the same period a year ago, and our
technology is being used by more big production companies.
Yesterday’s EditShare partnership announcement is a significant example of the
implementation of our stated strategy and the Company’s ability to partner with
well established organisations in a variety of market segments. EditShare will
integrate FORscene into its product offering, giving it a competitive advantage,
and giving FORscene access to many of EditShare’s numerous broadcast clients
across North America and Europe.
In the Professional News market we are about to enter a pilot scheme with a
major international group. This is currently under a Non Disclosure Agreement.
Consistent with our strategy of partnership development we are at an advanced
stage of discussion with a number of large international systems integrators. In
each case FORscene would be integrated into a much larger system being marketed
internationally.
Since the end of December 2009 we have issued 525,000 new shares to t1ps
Smaller Companies Growth Fund, which have brought in additional funds to the
business, as well as increasing liquidity to the benefit of our shareholders.
Furthermore, during the period a number of Forbidden’s Executives have been
invited to be speakers on the subject of both our technology and its position as
a true cloud based video platform. This exemplifies a growing interest in cloud
computing and the recognition of Forbidden as a leading industry commentator on
the subject.
We look forward to continuing growth as FORscene becomes increasingly
recognised as a leading cloud-based video platform".
-Ends-
For more information, please visit www.forbidden.co.uk or contact:
Forbidden Technologies plc
Pete Burns
+44 (0)20 8879 7245
Bishopsgate Communications
Gemma O’Hara/Siobhra Murphy
+44 (0)7917 042 335
Brewin Dolphin Corporate Advisory & Broking
Neil Baldwin, Nominated Advisor
+44 (0) 845 213 4726
Notes to Editors
Forbidden Technologies plc
Forbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) floated in February 2000.
Forbidden 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.
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