Notice of AGM and other matters

Notice of the 2019 Annual General Meeting, proposed change to the Company name, adoption of a new long-term employee incentive scheme and change in board roles

Forbidden Technologies plc (AIM: FBT), the developer and seller of cloud video platform technology using its patented Blackbird technology, announces that the Company’s 2019 Annual General Meeting (the “AGM”) will be held at 10.00 am on 8 May 2019 at Tuition House, 27-37 St George’s Road, London, SW19 4EU.

The Circular containing the notice of the AGM, together with a proxy form for use at the AGM and the Company’s Annual Report and Accounts for the year ended 31 December 2018, have been posted to shareholders today and will shortly be available on the Company’s website at www.forbidden.co.uk.

Proposed change to the Company Name

The Board proposes that the Company change its name to “Blackbird plc”, to align it with the platform and full product set which the Company markets under the brand name Blackbird and to reinforce the brand and focus in the market. A year ago, with a focused strategy, the Company brought all its products and services under the single brand, Blackbird. This branding and positioning has been well received in the market and allows the Company to cost effectively and powerfully market its media cloud solutions. Aligning the Company and brand names simplifies communication.

A further announcement will be made in due course to confirm the expected date upon which the Company’s shares are expected to trade on AIM under the new name of Blackbird plc and the new TIDM of ‘BIRD’ (previously ‘FBT’).

Adoption of a new long-term employee incentive scheme

The Board believes that it is critical that they are able to attract and retain the right team members to deliver the Company’s increasingly focussed sales strategy and that this strategy will deliver long-term and sustainable shareholder value. The Board also believes that directors and key management engaged in delivering the Company’s growth targets should be incentivised for delivering extraordinary shareholder returns.

In 2018, the Board undertook a detailed review of the Company’s current incentive schemes for management and concluded that the Company’s current share option schemes were not sufficient motivation to attract and retain the right team to drive performance and that it would be in the best interests of shareholders to provide additional long-term cash incentive arrangements focussed entirely on rewarding directors and key management for delivering significant growth in shareholder value.

The Board is therefore proposing that shareholders approve at the AGM the adoption of a new plan, the Blackbird plc Long Term Incentive Plan 2019 (the “New Incentive Plan”). The New Incentive Plan is intended to operate as a long-term cash bonus plan for the Company’s management team and to permit cash awards as a percentage of share value growth over two separate target hurdles of 15p and 20p per share, which are respectively over 3 times and 4 times above the last fundraising price of 5p per share. To fully align the Company’s current EMI Share Option Scheme with the New Incentive

Plan, the Board will add core performance targets as part of the vesting requirements for all new options granted under the existing EMI Share Option Scheme.

The Circular contains further details of the proposed New Incentive Plan to be adopted by the Board, if approved by shareholders. Awards under the New Incentive Plan will be made subject to such performance vesting conditions as the Remuneration Committee of the Board considers appropriate.

The grant of awards to Directors and certain other employees under the New Incentive Plan (if approved) will be treated as related party transactions under Rule 13 of the AIM Rules for Companies and, accordingly, will only be made if approved by independent directors of the Company who, having consulted with Allenby Capital Limited (the Company’s nominated adviser), consider the terms of the awards to be fair and reasonable insofar as the Company’s shareholders are concerned and are duly announced.

Board changes

David Main has today informed the board of his decision to step down as the Company’s Non-Executive Chairman at the conclusion of the AGM but to remain on the board as a Non-Executive

Director. The Company now has a strong team, a focused strategy, the right products and the financial capacity to really drive growth and value creation going forward. The board has appointed Andrew Bentley as the Company’s new Non-Executive Chairman following the conclusion of the AGM. Andrew has served on the board as a Non-Executive Director since November 2015 and, with his strong media and technology experience, is ideally placed to lead the board in the next phase of the Company’s growth.

David Main, Chairman of Forbidden, said: “Over the last three years, the Company has made some major changes. The most important of these has been to bring in a new team under Ian McDonough’s leadership. The team now has a clear B2B and SaaS focussed strategy, funding, and a JavaScript based platform and solutions to take advantage of media usage trends and the large shift to cloud-based media. Andrew Bentley brings a strong breadth of experience, and knowledge of Blackbird and the organisation, to help drive this next phase of growth.”

Ian McDonough, Chief Executive of Forbidden, said: “I would like to thank David for all his hard work as Chairman over recent years and the board are grateful that he will continue to offer his support as a Non-Executive Director.”

Contacts:
Forbidden Technologies plc
Tel: +44 (0)20 8879 7245
Ian McDonough, CEO
Adrian Lambert, Marketing Director

Allenby Capital Limited (Nominated Adviser and Broker)
Tel: +44 (0)20 3328 5656
Nick Naylor
Nicholas Chambers

About Forbidden Technologies plc
Forbidden Technologies plc (AIM: FBT) floated in February 2000.
Forbidden develops, markets and licenses a powerful cloud video platform using its patented Blackbird technology. The technology underpins multiple applications, which are used by rights holders, broadcasters, sports and news video specialists, eSports live events and content owners, post-production houses, other mass market digital video channels and corporations.

The Blackbird technology allows full visibility on multi-location digital content, improves time to market for live content such as video clips and highlights for social media distribution, and results in much more effective monetisation.

Blackbird® is a registered trademark of Forbidden Technologies plc.

Websites
www.blackbird.video
www.forbidden.co.uk

Social media
www.linkedin.com/company/forbidden
www.twitter.com/forbiddentech
www.facebook.com/ForbiddenTechnologies/

NAB 2019: New version of Blackbird on Microsoft Azure delivers even faster cloud video performance

9 April 2019, Las Vegas and London – Forbidden Technologies plc (AIM: FBT), developer and seller of a market-leading cloud video platform Blackbird, has announced that the latest version of Blackbird on Microsoft Azure delivers even faster cloud video performance.

Any company working with video for all or part of their workflows can use the latest version of Blackbird on Azure to rapidly and frame-accurately view, clip, edit and publish live and non-live video content in the cloud. The only solution on the market that provides highly responsive frame-accurate navigation of video content in the cloud, Blackbird is available to anyone with a browser, anywhere in the world, even with very low bandwidth.

The latest version of Blackbird can be deployed on Azure in under 5 minutes. Blackbird can also now support the use of Azure Blob Storage of video which allows transparency of operation between traditional and cloud enabled workflows for content creation and delivery.

Today’s announcement follows the news earlier this year that Blackbird had reached Microsoft Co-Sell Ready status. This status has facilitated a closer working relationship between Blackbird and Microsoft with the companies’ sales teams working together to directly engage new and existing customers about the benefits of Blackbird.

Blackbird has a growing number of users on Azure. These include Deltatre, a leading supplier of digital and broadcast services in the sports sector and Barbri, the world’s largest law examinations preparation company. Deltatre uses Blackbird to accelerate delivery of live and on-demand video highlights to fans of American football, athletics, golf, rugby and cycling. Barbri uses Blackbird to seamlessly edit and add graphics to its videos as part of its Learning Management System used by students.

Ian McDonough, CEO of Forbidden Technologies, said: “For our customers, quickly and easily delivering video content is vital. This latest version of Blackbird on Microsoft Azure gives companies the opportunity to clip, edit and publish video content to their customers at unbeatable speeds, dramatically improving productivity and opening up monetization opportunities. Azure is a fantastic partner for Blackbird and we continue to work closely together to expand our customer base.”

Sudheer Sirivara, General Manager, Azure Media at Microsoft Corp. said: “Video workflows are moving rapidly to the cloud across sectors such as sports, esports, news, education and entertainment. This latest version of Blackbird further enhances organizations’ ability to rapidly create, manage and distribute video content, while massively reducing production costs and enhancing team collaboration.”

Blackbird is exhibiting on the Microsoft booth (#SL6716) at this year’s NAB Show in Las Vegas from 8th to 11th of April.

Gfinity extends Blackbird partnership

Gfinity extends Blackbird partnership for the delivery of esports clips and highlights

4th April 2019, London – Forbidden Technologies plc (AIM: FBT) is pleased to announce that Gfinity, one of the world’s leading esports companies, has extended its Blackbird partnership for a further 12 months.

Gfinity designs, develops and delivers esports solutions for game publishers including Microsoft and EA Sports and rights holders such as F1 and the English Premier League. It creates entertainment-based content to support tournament and competition play and build fan engagement with teams, the players and the game. Gfinity utilises Blackbird to rapidly create highlights and other content from live streams for social channel distribution.

Gfinity was Blackbird’s first customer in the rapidly expanding global esports industry when it used the technology to create highlights of Gfinity’s Elite Series, filmed at the Gfinity Arena, which features the world’s leading esports teams. Blackbird has subsequently expanded its involvement in the esports industry into the US where it was used to drive fan engagement for the live pro-celebrity Fortnite event in Los Angeles in 2018.

Ian McDonough, CEO of Forbidden, said: “Esports is a rapidly growing sector, with revenue expected to reach almost $1.8 billion in 20221 and we are delighted that Gfinity has expanded its relationship with Blackbird. It is an industry which plays to Blackbird’s strengths – the need to rapidly log and clip game highlights for distribution across websites and social media channels is key to audience engagement. Esports is an exciting sector where we see more opportunity to increase the take up of Blackbird.”

Graham Wallace, Global Chief Operating Officer, Gfinity said: “Esports is one of the world’s most exciting and fastest growing industries. The core fan base is young and demanding. They want high-quality real-time content that tell stories about the games they love and the teams and players they follow. This ‘reason to care’ content is what we create and through our partnership with Blackbird ensure it is seamlessly delivered in the best format for their different devices. An esports revolution is taking place, great content is king and Gfinity is at the epicentre.”

Gfinity joins a growing number of Blackbird users in the global live events sector including MSG Networks, IMG, Deltatre and Peloton. In other markets, the Blackbird cloud video platform is used by major media companies such as Peloton, BBC, TownNews and Atlas Digital.

Websites
www.blackbird.video
www.forbidden.co.uk

Social media
www.linkedin.com/company/forbidden
www.twitter.com/forbiddentech
www.facebook.com/ForbiddenTechnologies/

Contacts:

Forbidden Technologies plc
Tel: +44 (0)20 8879 7245
Ian McDonough, CEO
Adrian Lambert, Marketing Director

Allenby Capital Limited (Nominated Adviser and Broker)
Tel: +44 (0)20 3328 5656
Nick Naylor
John Depasquale
Nicholas Chambers

About Forbidden Technologies plc

Forbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) floated in February 2000.

Forbidden develops, markets and licenses a powerful cloud video platform using its patented Blackbird technology. The technology underpins multiple applications, which are used by rights holders, broadcasters, sports and news video specialists, eSports live events and content owners, post-production houses, other mass market digital video channels and corporations.

The Blackbird technology allows full visibility on multi-location digital content, improves time to market for live content such as video clips and highlights for social media distribution, and results in much more effective monetization.

Blackbird(R) is a registered trademark of Forbidden Technologies plc.

1 Source: https://www.statista.com/statistics/490522/global-esports-market-revenue/

Forbidden & Xytech announce important partnership

Forbidden Technologies and Xytech announce important partnership ahead of NAB 2019

The partnership will integrate Forbidden Technologies’ leading cloud video platform, Blackbird, into Xytech’s best-in-class facilities management software.

Xytech, a leader in facility management software for the broadcast, media services and video transmission industries, and Forbidden Technologies, the AIM quoted cloud video company, have partnered to provide users with a real-time, frame-accurate browser-based player. This is planned for Version 9 of Xytech’s MediaPulse facility management software system which is targeted to be launched in June 2019.

“This strategic partnership with Forbidden Technologies brings unique real-time viewing features to MediaPulse users supporting Asset Management and Promo Workflows,” said Greg Dolan of Xytech. “Post-production professionals will be able to securely and accurately access and view video content at speed using Forbidden Technologies’ Blackbird video platform and do it all on a nominal connection right from MediaPulse. Forbidden Technologies shares our vision of intuitive user experiences. This partnership is a great fit.”

Ian McDonough, CEO of Forbidden Technologies said: “We’re thrilled that Xytech has chosen to integrate Blackbird into their market-leading facility management software, MediaPulse. Blackbird’s unique power and agility will give Xytech’s customers frame-accurate access to their video content quickly and easily, delivering significant efficiency benefits. Blackbird is increasingly being recognized by companies globally who need lightning fast access to and management of their video content. Our partnership with Xytech is perfectly aligned with our strategic OEM model for Blackbird as we gain further market adoption in the key US market and beyond.”

Websites
www.blackbird.video
www.forbidden.co.uk

Social media
www.linkedin.com/company/forbidden
www.twitter.com/forbiddentech
www.facebook.com/ForbiddenTechnologies/

Contacts:

Forbidden Technologies plc
Tel: +44 (0)20 8879 7245
Ian McDonough, CEO
Adrian Lambert, Marketing Director

Allenby Capital Limited (Nominated Adviser and Broker)
Tel: +44 (0)20 3328 5656
Nick Naylor
John Depasquale
Nicholas Chambers

About Forbidden Technologies plc

Forbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) floated in February 2000.

Forbidden develops, markets and licenses a powerful cloud video platform using its patented Blackbird technology. The technology underpins multiple applications, which are used by rights holders, broadcasters, sports and news video specialists, eSports live events and content owners, post-production houses, other mass market digital video channels and corporations.

The Blackbird technology allows full visibility on multi-location digital content, improves time to market for live content such as video clips and highlights for social media distribution, and results in much more effective monetization.

Blackbird(R) is a registered trademark of Forbidden Technologies plc.

About Xytech

For 30 years, the world’s premiere media companies have depended on Xytech to run their businesses. MediaPulse is the only end-to-end solution for the complete content lifecycle. MediaPulse provides scheduling, automation, asset management, billing and cost recovery for broadcasters, media services companies and transmission facilities in a scalable platform-independent solution.

For more information, visit: www.xytechsystems.com

Directorate Change

Confirmation of the appointment of Stephen White as Chief Operating and Financial Officer

Forbidden Technologies plc (AIM: FBT), the developer and seller of cloud video platform technology using its patented Blackbird technology, is pleased to confirm that, further to the announcement on 22 October 2018, Stephen White will join the Board of Forbidden on 2 April 2019 in the newly created role of Chief Operating and Financial Officer.

David Main, Chairman of Forbidden, said, “We are pleased to confirm that Stephen White is joining us in this newly created combined role. With growth in our business, a tight strategic direction, and a strong team, Stephen will be adding a real focus on superb execution and delivery against our plans. We thank Jonathan Lees for his strong contribution to the business as Finance Director.”

Jonathan Lees, the Company’s current Finance Director, will step down from the Board on 2 April 2019, leaving the Company to pursue other opportunities after an appropriate handover period.

Regulatory Disclosures:

In accordance with Rule 17 and Schedule 2(g) of the AIM Rules for Companies, Stephen James White, aged 48, is, or has been within the last five years, a director or partner in the following companies and partnerships:

Current directorships and partnerships
E Entertainment UK Limited
NBC Universal Global Networks
UK Limited
NBC Universal International
Networks Limited
SCI-FI Channel Europe LLC

Past directorships and partnerships held within the last five years
n/a

There is no other information required to be disclosed under the AIM Rules for Companies.

Contacts:

Forbidden Technologies plc
Tel: +44 (0)20 8879 7245
Ian McDonough, CEO
Adrian Lambert, Marketing Director

Allenby Capital Limited (Nominated Adviser and Broker)
Tel: +44 (0)20 3328 5656
Nick Naylor
John Depasquale
Nicholas Chambers

About Forbidden Technologies plc

Forbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) floated in February 2000.

Forbidden develops, markets and licenses a powerful cloud video platform using its patented Blackbird technology. The technology underpins multiple applications, which are used by rights holders, broadcasters, sports and news video specialists, eSports live events and content owners, post-production houses, other mass market digital video channels and corporations.

The Blackbird technology allows full visibility on multi-location digital content, improves time to market for live content such as video clips and highlights for social media distribution, and results in much more effective monetisation.

Blackbird(R) is a registered trademark of Forbidden Technologies plc.

Websites
www.blackbird.video
www.forbidden.co.uk

Social media
www.linkedin.com/company/forbidden
www.twitter.com/forbiddentech
www.facebook.com/ForbiddenTechnologies/

IMG grows and extends Blackbird partnership for another three years

5 March 2019, London – Forbidden Technologies plc (AIM: FBT), developer and seller of the market-leading cloud video platform, Blackbird, is pleased to announce that IMG Media Ltd (IMG) has signed an agreement with Forbidden to grow and extend its use of Blackbird for a further three years.

IMG is a leading global producer and distributor of sports media. Since it first became a customer of the Company in 2015, its relationship with Forbidden and Blackbird had already expanded before this new agreement. This agreement is Forbidden’s first multi-year contract with IMG, worth a six-figure sum over the term. It is also material in the current financial year, as there are additional one-off Blackbird Edge upgrades.

IMG’s UK digital production team plans to use Blackbird to rapidly clip, edit and publish live sports video content to IMG’s own content delivery network, as well as its partners’ online platforms. Blackbird will be used to create highlights packages and clips for fans to enjoy a range of sports. The sports include leading European football leagues, La Liga and Serie A, EuroLeague Basketball, and the European Volleyball League.

IMG distributes more than 32,000 hours of content annually originating from more than 200 clients and events to major global broadcasters across all forms of media – including TV, audio, fixed media, inflight and closed circuit, broadband and mobile.

Forbidden CEO, Ian McDonough, said: “We are delighted that IMG, one of our key customers, has chosen to extend and expand its partnership with Forbidden for another three years. This agreement is a testament to the service levels we provide and an endorsement of our market-leading Blackbird technology, which offers editing agility and fast processing of live content in the Cloud.

“Blackbird is gaining traction in Europe and particularly, North America, where we work with leading companies in sports and media.

“We look forward to continuing to work closely with IMG’s UK digital production team as they provide sports fans with the content they demand.”

For more information about Blackbird visit: www.blackbird.video

Websites
www.blackbird.video
www.forbidden.co.uk

Social media
www.linkedin.com/company/forbidden
www.twitter.com/forbiddentech
www.facebook.com/ForbiddenTechnologies/

Contacts:

Forbidden Technologies plc
Tel: +44 (0)20 8879 7245
Ian McDonough, CEO
Adrian Lambert, Marketing Director

Allenby Capital Limited (Nominated Adviser and Broker)
Tel: +44 (0)20 3328 5656
Nick Naylor
John Depasquale
Nicholas Chambers

About Forbidden Technologies plc

Forbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) floated in February 2000.

Forbidden develops, markets and licenses a powerful cloud video platform using its patented Blackbird technology. The technology underpins multiple applications, which are used by rights holders, broadcasters, sports and news video specialists, eSports live events and content owners, post-production houses, other mass market digital video channels and corporations.

The Blackbird technology allows full visibility on multi-location digital content, improves time to market for live content such as video clips and highlights for social media distribution, and results in much more effective monetisation.

Blackbird(R) is a registered trademark of Forbidden Technologies plc.

About IMG

IMG, which was founded in 1960, is a global leader in sports, events, media and fashion, operating in more than 30 countries. The company represents and manages some of the world’s greatest sports figures and fashion icons; stages hundreds of live events and branded entertainment experiences annually; and is one of the largest independent producers and distributors of sports media.

IMG also specialises in sports training; league development; and marketing, media and licensing for brands, sports organisations and collegiate institutions.

Blackbird now Microsoft Co-Sell Ready

January 15, 2019, London and Redmond – Forbidden Technologies plc (AIM: FBT), the developer and seller of Blackbird, the video workstation experience in the cloud, has reached Microsoft Co-Sell Ready status.

To read this press release, please click here.

Director/PDMR Shareholding

Forbidden Technologies plc (AIM: FBT), the developer and seller of cloud video platform technology using its patented Blackbird technology, has been notified that on 29 November 2018, Ian McDonough, the Company’s Chief Executive Officer and a person discharging managerial responsibilities (PDMR), purchased 800,000 Ordinary Shares at a price of 6.2 pence per share and now …