Production Associates and Fanview choose Blackbird for global eSports event

June 12, 2018, London – Forbidden Technologies plc, the developer and seller of the Blackbird cloud video platform, has announced that Production Associates and Fanview have chosen Blackbird Forte for pre, live and post-event production at a major forthcoming global eSports event held in Los Angeles.

This month’s event will see professional and celebrity players of one of the world’s most popular computer games competing for charity in front of a live audience and hundreds of thousands more fans online. Premier live event company, Production Associates, has partnered with leading fan experience company, Fanview, to bring all the action to a global audience. The companies will use Blackbird Forte to rapidly clip content from multiple sources at the event and deliver it seamlessly across multiple online platforms and channels.

With a global audience of almost 400 million people, eSports is going through dramatic growth with the sector predicted to generate revenues of $905 million this year – up 38 percent from the previous year.

Production Associates CEO, Michael Thuney says: “At Production Associates we’re always looking for innovative technologies that support distributed teams and give us the capability of publishing content as quickly as possible, Blackbird allows us to do this.”

Forbidden CEO, Ian McDonough says: “We are very proud of this partnership with Production Associates and Fanview. Following previous partnerships established in the US, Blackbird is now building a strong reputation in the world of eSports and this very high profile event is a huge endorsement of the power and trust in the Blackbird codec and the manipulation tools that Forte brings. As the sector grows we expect to see more and more adoption of Blackbird into eSports infrastructure”.

Fanview Founder, Jim Irving, says: “We’re delighted to be working with our partners PA on an exciting project and support the adoption of Blackbird to ensure that it meets the demands of this complex project.”

About Fanview

Fanview was born from a passion to design, develop and evolve the most compelling and engaging fan experiences on the planet.

Our team boasts decades of experience in high-end broadcast and digital strategy, production and delivery.

We work with many of the world’s biggest rights holders, sponsors and sports broadcasters, and we believe that our technology can help grow your audience.

We’re currently working with our clients to deliver state-of-the-art graphics and cloud editing solutions. This technology really will change the way our clients produce their content and grow the value of their rights.

About Production Associates

Production Associates’ parent company was founded in 1987 with $100.00 and a computer and within two years it was a million dollar a year business consulting on integrating the latest technology into live events and television.

As part of our nothing is impossible mantra, innovation is what drives PA. Experience is the key to innovation as many new ideas still rely on elementary physics and knowledge of what has been done before. What makes PA successful is imagination and collaboration and that’s what makes the magic happen.

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 our patented Blackbird technology. The technology underpins multiple applications which are used by rights holders, broadcasters, sports and news video specialists, 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.

To find out more about Blackbird Forte and Blackbird Ascent contact commercial@blackbird.video or visit www.blackbird.video
Blackbird® is a registered trademark of Forbidden Technologies plc

Media contact:
media-relations@forbidden.co.uk

Holding(s) in Company

TR-1: Standard form for notification of major holdings NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)(i) —————————————————————————————— 1a. Identity of the issuer or the underlying issuer FORBIDDEN TECHNOLOGIES PLC of existing shares to which voting rights are attached(ii): —————————————————————————————— 1b. Please indicate …

Placing to raise £5.75 million and notice of GM

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (“MAR”). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

Forbidden Technologies plc (AIM: FBT), the developer and seller of cloud video platform technology using its patented Blackbird technology, is pleased to announce an oversubscribed placing of 115,000,000 new ordinary shares of 0.8 pence each in the Company (“Placing Shares”) at a price of 5 pence per share (the “Placing Price”) to raise GBP5.75 million before expenses (the “Placing”), to be undertaken in two tranches. The Placing was conducted by Allenby Capital Limited (“Allenby Capital”).

Transaction Highlights

— The Placing Shares have been placed with existing and new institutional and other investors, including existing shareholders, certain Directors and family of the Directors.

— Directors and family of the Directors have subscribed for GBP750,000.
— Of the funds raised, GBP4,102,630 is conditional, inter alia, on the approval of shareholders, at a general meeting of the Company to be held at 10:00 a.m on 25 June 2018 (the “GM” or “General Meeting”), of a resolution (the “Resolution”) to provide authority to the Directors to allot new ordinary shares otherwise than on a pre-emptive basis, further details of which are set out below.

— The Placing Shares will represent approximately 39 per cent of the issued share capital of the Company as enlarged by the issue of the Placing Shares.

— The net proceeds of the Placing, which will be approximately GBP5.45 million, will be used to resource larger infrastructure contracts, to further strengthen the commercial team, to open up the Blackbird platform via API interfaces, enhance the value of the Company’s IP portfolio and strengthen the Company’s balance sheet.

Commenting on the placing, Ian McDonough, CEO of Forbidden Technologies plc said: “I am delighted to announce a very successful fundraising which will significantly strengthen the Company’s balance sheet. We are now well placed to pursue the realisation of the full value of Blackbird. This funding comes on the back of strong growth momentum year to date. Our sales growth for the period to the end of April 2018 is up 80% vs. the same period in 2017, with more than half of the new invoiced sales coming from infrastructure contracts.”

A circular (the “Circular”), containing information in relation to the Placing and a notice convening the General Meeting, is expected to be sent to shareholders today. The General Meeting will be held at 10.00 a.m. on 25 June 2018 at Tuition House, 27-37 St. George’s Road, Wimbledon, London SW19 4EU. The Circular will also shortly be posted on the Company’s website: www.forbidden.co.uk.

Further details of the Placing are set out below.

Enquiries
Forbidden Technologies plc
Ian McDonough, CEO
Jonathan Lees, Finance Director
Tel: +44 (0)20 8879 7245

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

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 our patented Blackbird technology. The technology underpins multiple applications which are used by rights holders, broadcasters, sports and news video specialists, 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.

To find out more about Blackbird Forte and Blackbird Ascent contact commercial@blackbird.video or visit www.blackbird.video

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

Further details of the Placing

The information contained below has been extracted from, and should be read in conjunction with, the Circular. Terms defined in the Circular shall have the same meanings where used in this announcement.

1. Introduction
The Company has conditionally raised GBP5.75 million (before expenses) by way of the Placing of 115,000,000 new Ordinary Shares at the Placing Price in two tranches: the First Placing Shares and the Second Placing Shares.

The placing of the Second Placing Shares is conditional, inter alia, upon Shareholders passing the Resolution at the General Meeting. The Directors intend to vote in favour of the Resolution in respect of their own beneficial holdings in the Company which amount in aggregate to 65,814,290 Ordinary Shares and represent approximately 36.46 per cent. of the Company’s Existing Ordinary Shares.

The Directors believe that the Placing is the most appropriate way to raise additional funds for Forbidden. The Directors consider that the Placing provides greater certainty than other available means of raising additional funds in a timely fashion and minimises transactional costs.

2. Current trading and prospects
Ian McDonough joined the Company as CEO on 1 September 2017. Ian has strengthened the team against a much more intensively targeted sales strategy focused against the Company’s real market strengths in live and remote applications. The team now includes experienced sales resources based in the USA and Europe, and experienced senior marketing and product management heads.

The Company’s strategic focus is to sell Blackbird(R) solutions as part of the core media infrastructure requirements of the companies in its targeted market segments. The Board believes Blackbird is the only codec in the world that has been specifically designed for manipulating video in the cloud. Consequently, it has some very significant points of difference from the competition and advantages for potential customers. The strategy is to sell Blackbird in a SaaS model, with recurring revenues, against specific key verticals where Forbidden can add real value to its customers’ media solutions. The Company will also be exploring other technology licensing and strategic partnering opportunities which the Board believes will enhance the value of Blackbird. Forbidden’s recurring revenue from infrastructure sales has increased from 28% of invoiced sales reported in 2016 to over 50% in the period to 30 April 2018.

The current financial year has started strongly. As announced at the AGM on 30 April 2018, first quarter invoiced sales were showing a high double-digit growth versus last year. This growth has continued and management accounts up to 30 April 2018 show an 80% year on year growth for invoiced sales with North American sales up 150%, live sport up 100% and broadcast post production up 28%. There was also a 35% growth in deferred income at 30 April 2018 versus the year-end.

The Board is confident that the business is now well placed, and has the right leadership and team, to make real progress in realising full value from the Blackbird technology and platform.

3. Details of the Placing and use of proceeds
Under the Placing, the Company has conditionally raised GBP5.75 million (before expenses) through a placing of 115,000,000 Ordinary Shares at 5 pence per share with institutional and other investors including the Investing Directors. The Company has entered into a Placing Agreement with Allenby Capital under which Allenby Capital has agreed to use its reasonable endeavours to procure Placees for the Placing Shares at the Placing Price. The Placing has not been underwritten. The net proceeds of the Placing, which will be approximately GBP5.45 million, will be used to resource larger infrastructure projects, strengthen the commercial team to accelerate growth, open up the Blackbird platform via API interfaces, enhance the value of the Company’s IP portfolio and strengthen the Company’s balance sheet.

The Placing Shares will represent approximately 39 per cent. of the Enlarged Share Capital. The Placing Price represents a discount of approximately 7.41 per cent. to the closing mid-market price on AIM of 5.4 pence per Existing Ordinary Share on 1 June 2018, being the last dealing day prior to publication of this document.

The Company currently has limited authority to issue new Ordinary Shares for cash on a non-pre-emptive basis. Accordingly, the Placing is being conducted in two tranches.

The first tranche of the Placing, to raise a total of GBP1,647,370 by the issue of 32,947,400 Ordinary Shares (being the First Placing Shares) at 5 pence each, has been carried out within the Company’s existing share allotment authorities. Application has been made for the First Placing Shares to be admitted to trading on AIM and it is expected that their admission to AIM will take place on 7 June 2018. The allotment of the First Placing Shares is conditional, inter alia, upon First Admission and the Placing Agreement becoming unconditional in respect of the First Placing Shares and not being terminated in accordance with its terms prior to First Admission.

The second tranche of the Placing, to raise a total GBP4,102,630 by the issue of 82,052,600 Ordinary Shares (being the Second Placing Shares) at 5 pence each, is conditional upon, inter alia, the passing of the resolution to be put to shareholders of the Company at the General Meeting (granting the Directors authority to allot new Ordinary Shares otherwise than on a pre-emptive basis). In addition, the allotment of the Second Placing Shares is conditional, inter alia, on the Placing Agreement becoming unconditional in respect of the Second Placing Shares and not being terminated in accordance with its terms prior to Second Admission. It is expected that Second Admission will take place on 26 June 2018.

The Placing Agreement contains, inter alia, customary undertakings and warranties given by the Company in favour of Allenby Capital as to the accuracy of information contained in this document and other matters relating to the Company. Allenby Capital may terminate the Placing Agreement in specified circumstances prior to Admission, including, inter alia, for material breach of the Placing Agreement or any other warranties contained in it and in the event of certain force majeure events occurring.

The Placing Agreement is conditional so far as concerns the Second Placing upon, inter alia, Shareholders passing the Resolution at the General Meeting and Second Admission occurring by not later than 8.00 a.m. on 26 June 2018 (or such later time and/or date as the Company and Allenby Capital may agree, not being later than 8.00 a.m. on 10 July 2018). If such condition is not satisfied or, if applicable, waived, the Second Placing will not proceed.

The Placing Shares will be issued credited as fully paid and will rank pari passu in all respects with the Existing Ordinary Shares, including the right to receive dividends and other distributions declared on or after the date on which they are issued.

It is expected that CREST accounts will be credited on the relevant day of Admission and that share certificates (where applicable) will be despatched within 10 working days of Admission.

4. Related party transactions
Miton Group plc (“Miton”), which currently owns 26,927,128 Ordinary Shares representing 14.92 per cent. of the Company’s issued share capital at the date of this Circular, has agreed to subscribe for 30,839,600 Second Placing Shares as part of the second tranche of the Placing. As a substantial shareholder of the Company, Miton is to be treated as a ‘related party’ in accordance with the AIM Rules and its participation is a related party transaction pursuant to Rule 13 of the AIM Rules. The Independent Directors (being the Directors not participating in the Placing), having consulted with Allenby Capital, consider the participation of Miton in the Placing to be fair and reasonable insofar as Shareholders are concerned.

The following Directors have agreed to subscribe for a total of 15,000,000 Second Placing Shares as part of the second tranche of the Placing:

At the date of this No. of Second Following Second Admission
Circular Placing Shares
—————————- ————— ——————————
Investing Number Percentage Number of Percentage
Director of Ordinary of Existing Ordinary of Enlarged
Shares Ordinary Shares held Share Capital
held Shares
David Main* 535,714 0.30 500,000 1,035,714 0.35
Ian McDonough
* 1,262,862 0.70 14,000,000 15,262,862 5.17
Stephen Streater 63,985,714 35.45 500,000 64,485,714 21.82

*Including family interests

As directors of the Company, the Investing Directors are each to be treated as a ‘related party’ in accordance with the AIM Rules. Accordingly, the participation of the Investing Directors in the Placing is a related party transaction pursuant to Rule 13 of the AIM Rules. The Independent Directors of the Company, having consulted with Allenby Capital, consider the participation of the Investing Directors in the Placing to be fair and reasonable insofar as Shareholders are concerned.

5. Application for Admission to AIM
Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM. It is anticipated that Admission will become effective and that dealings in the First Placing Shares will commence at 8:00 a.m. on 7 June 2018 and that Admission will become effective and dealings in the Second Placing Shares will commence at 8:00 a.m. on 26 June 2018.

6. Recommendation
The Board considers the Placing to be in the best interests of the Company and its Shareholders as a whole and therefore the Directors unanimously recommend that Shareholders vote in favour of the Resolution to be proposed at the General Meeting, as they intend to do in respect of their aggregate holding of 65,814,290 Existing Ordinary Shares, representing approximately 36.46 per cent. of the Company’s existing share capital.

Total Voting Rights

On First Admission, the Company will have 213,433,599 ordinary shares of 0.8p each in issue, each with one voting right. There are no shares held in treasury. Therefore, the Company’s total number of ordinary shares and voting rights on First Admission will be 213,433,599.

The above figure of 213,433,599 may be used by shareholders following First Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

On Second Admission, the Company will have 295,486,199 ordinary shares of 0.8p each in issue, each with one voting right. There are no shares held in treasury. Therefore, the Company’s total number of ordinary shares and voting rights on Second Admission will be 295,486,199.

The above figure of 295,486,199 may be used by shareholders following Second Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

MAR

The Market Abuse Regulations (EU) No. 596/2014 (MAR) became effective from 3 July 2016. Market soundings, as defined in MAR, were taken in respect of the Placing with the result that certain persons became aware of inside information, as permitted by MAR. That inside information is set out in this announcement and has been disclosed as soon as possible in accordance with paragraph 7 of article 17 of MAR. Therefore, those persons that received inside information in a market sounding are no longer in possession of inside information relating to the Company and its securities.

Information to Distributors

Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended (“MiFID II”); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the “Product Governance Requirements”), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any “manufacturer” (for the purposes of the Product Governance Requirements) may otherwise have with respect thereto, the Placing Shares have been subject to a product approval process, which has determined that the Placing Shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the “Target Market Assessment”). Notwithstanding the Target Market Assessment, investors should note that: the price of the Placing Shares may decline and investors could lose all or part of their investment; Placing Shares offer no guaranteed income and no capital protection; and an investment in Placing Shares is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the Placing. Furthermore, it is noted that, notwithstanding the Target Market Assessment, only investors who have met the criteria of professional clients and eligible counterparties have been procured. For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to Placing Shares.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Forbidden Technologies Forms Technology Alliance with Veritone

22 May 2018

 Forbidden Technologies plc

(“Forbidden” or the “Company”)

 Forbidden Technologies Forms Technology Alliance with Veritone

 Forbidden Technologies plc, the developer and seller of the Blackbird® cloud video platform, has established a technology alliance with Veritone.

Under the new alliance, Forbidden will integrate its revolutionary Blackbird codec and cloud video platform with Veritone aiWARE™, an Operating System for Artificial Intelligence (AI). Application developers, such as Forbidden Technologies, can quickly integrate their applications with aiWARE and immediately inherit the ability to recognise languages, faces, objects and logos from audio and video files. By adopting the aiWARE operating system, which is constantly growing in the depth and breadth of its cognitive processing power, applications will automatically improve the speed and accuracy of their offering, providing continuous value for their users.

This new solution will utilise the existing power of Blackbird Ascent and Blackbird Forte to optimise operational workflows. End users are being stretched by consumers demand for fast turnaround and multi-platform delivery, as well as increasing legislation. Veritone employs AI to orchestrate multiple cognitive engines to automate the generation of metadata to enrich content, improve visibility and permit operational teams to focus on monetizing their content without the need for labour intensive manual data entry.

Forbidden CEO, Ian McDonough says: The capabilities of AI platforms are evolving rapidly, and multiple additional revenue streams are unlocked for our customers by the huge wealth of data they can expose. We need to partner with companies that have a strong vision for intelligently guiding content through the most suitable engines for our customers’ desired workflows. Blackbird’s value is to make use of this data, optimising existing workflows to maximise the content’s value.”

Andy Brinck, Vice President, Worldwide Channels at Veritone said: “Veritone provides a trusted operating system for AI that empowers innovative companies, like Forbidden Technologies, to deliver actionable insights from previously unstructured data sources. We’re thrilled to see Forbidden’s Blackbird video platform leverage these capabilities to offer increased value to their customers.”

Enquiries:

 Forbidden Technologies plc

Ian McDonough, CEO

Jonathan Lees, Finance Director

Tel: +44 (0)20 8879 7245

Allenby Capital Limited (Nominated Adviser and Broker)

Nick Naylor

John Depasquale

Nicholas Chambers

Tel: +44 (0)20 3328 5656

 

About Veritone

Veritone (NASDAQ: VERI) is a leading artificial intelligence company that has developed aiWARE, an AWS-certified platform offering orchestrated cognitive computing to transform and analyse structured and unstructured data for clients in a variety of markets, including media and entertainment, legal, compliance and government. The open platform integrates an ecosystem of cognitive engines, which can be orchestrated together, and a suite of proprietary applications, to reveal unprecedented, multivariate insights from linear files such as radio and TV broadcasts, surveillance footage and public and private content globally. To learn more, visit Veritone.com

 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 our patented Blackbird technology. The technology underpins multiple applications which are used by rights holders, broadcasters, sports and news video specialists, 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.

To find out more about Blackbird Forte and Blackbird Ascent contact commercial@blackbird.video or visit www.blackbird.video

Blackbird® is a registered trademark of Forbidden Technologies plc

Our House Media chooses Blackbird for flagship TV documentary series

May 9, 2018,London – Forbidden Technologies plc. announced today that Our House Media has chosen to use Blackbird for one of its flagship documentary series.

The Blackbird cloud platform will be used remotely and on premise by Our House Media’s story editors, producers and numerous production staff for the TV show, Building Off The Grid.  Blackbird Forte will be used for the pre-assembly of multi camera and sync-mapped content for post-production using Blackbird’s unique capabilities for many post-production workflows. Hours of content produced during the making of the show will be seamlessly ingested via Blackbird Edge and accessed, enriched with metadata and pre-edited to string outs.  AAF publishing will be accessed from the Blackbird cloud at Our House Media’s Head Office where the final show will edited. Our House Media selected Blackbird following a rigorous testing phase out in the field.

Shown on Discovery’s DIY Network in the US, Building Off The Grid follows 8 teams of intrepid off grid builders tackling extreme weather, remote locations and creative engineering to build stunning off grid homes.

Forbidden CEO, Ian McDonough says: “We’re delighted Blackbird is spreading its Canadian wings. Our House Media has recognised the power of our Forte platform and we’re thrilled to have another show on a US network.”

Our House Media Director of Post Production, Gad Reichman says: “Working with producers and writers off site and in different countries requires us to share media seamlessly and quickly. Blackbird gives us the ability to do that and automate the process in such a way that it doesn’t add any more time to our internal workflows. We are very excited about working with Blackbird because now we can work in the cloud with the best talent around the globe.”

 

About Our House Media
With offices in LA and Toronto, Our House Media is a content creation company on a mission to create innovative, original formats, entertaining and returnable shows with the highest production values for audiences in the US, Canada, and beyond.

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 our patented Blackbird technology. The technology underpins multiple applications which are used by rights holders, broadcasters, sports and news video specialists, 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.

To find out more about Blackbird Forte and Blackbird Ascent contact commercial@blackbird.video or visit www.blackbird.video

Blackbird® is a registered trademark of Forbidden Technologies plc

Result of Annual General Meeting

Forbidden Technologies plc (AIM: FBT), the developer and seller of cloud video platform technology using its patented Blackbird technology, announces that all resolutions put to shareholders at the Company’s Annual General Meeting held earlier today have been passed.

Enquiries

Forbidden Technologies plc
Ian McDonough, CEO
Jonathan Lees, Finance Director
Tel: +44 (0)20 8879 7245

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

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 our patented Blackbird technology. The technology underpins multiple applications which are used by rights holders, broadcasters, sports and news video specialists, 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.forbidden.co.uk
www.blackbird.video

Social media
www.linkedin.com/company/forbidden
www.twitter.com/BlackbirdCloud
www.facebook.com/BlackbirdCloudVideo/

Annual General Meeting Statement

Forbidden Technologies plc (AIM: FBT), the developer and seller of cloud video platform technology using its patented Blackbird technology is holding its Annual General Meeting today at 14:00pm at the Company’s offices, Tuition House, 27-37 St George’s Road, Wimbledon, London, SW19 4EU.

Ahead of the formal business of the meeting, David Main, Chairman of Forbidden, will make the following statement:

“Before proceeding with the formal part of the AGM, I should like to take the opportunity of commenting on the Company’s progress since we last met. We published our audited results for the year ended 31 December 2017 on 15(th) March 2018.

Whilst 2017 was a disappointing year in respect of sales growth there were some positives that we took into 2018. These included:

— The Company has brought in a strong commercially focused and externally appointed CEO, Ian McDonough, who is looking forward to speaking with you after the formal business of the AGM is concluded.

— We also hired a strong experienced sales director who has been in place since July.
— The Company reset its strategy to be exclusively B2B focused, and more specifically to be driving recurring infrastructure sales versus the traditional project-based revenue generated from the broadcast post market. By the end of the year, the percentage of total invoiced sales from recurring infrastructure sales in 2017 grew to 48% versus 28% in 2016.

— North America is very much a focus, particularly in the sports market, with revenues increasing year on year by 18%.

— We broke into the eSports market with Gfinity, a leading eSports content producer.
— In the development of our platform, we launched our patent pending Blackbird 9 codec and have made the strategic move to start providing our applications in JavaScript rather than Java.

Since joining, Ian has further strengthened the team against a much more intensively targeted sales strategy focused against our real market strengths in live and remote applications. The team now includes proven sales resources based in the US and Europe, and an experienced senior marketing and product management team.

Given that the Company incurred a loss after tax in the year ended 31 December 2017 of GBP2,336,000, let me touch on the matter of going concern. In terms of Invoiced Sales we have had a good first quarter showing a high double-digit growth vs. last year. Our internal forecasts are based on the forecast of three types of sales – recurring infrastructure sales from existing customers, repeat and new projects from existing customers and new sales from new customers. There are varying risks of achievement of these forecasts by sales type. The Directors believe that the combination of these forecasts along with the 1(st) quarter 2018 performance, sales pipeline growth, and potential cost management actions, demonstrate the business is operationally capable of meeting its obligations as they fall due and are confident they have plans in place to ensure the continuity of the business for at least twelve months.

In addition to our 1(st) quarter invoiced sales growth, post year-end we have completed the final two steps of putting our new strategy in place. These were to prove and make significant progress towards converting our web applications from Java to JavaScript, and finally to launch our unified brand for our platform and solutions – Blackbird(R). The two core solutions that we have launched are Blackbird Ascent and Blackbird Forte. At the most recent National Association of Broadcasters (“NAB”) conference in Las Vegas, the most important media technology exhibition just completed in April, this positioning and branding was very well received.

The Board is very aware that the significant value of our technology platform far exceeds the current revenue profile in the business. With the repositioning complete, the Board is fully committed to exploring all opportunities to optimise the value of the business for shareholders. This includes growing sales as currently described above and exploring technology licensing and strategic partnership opportunities going forward.

The Board is confident that the business is now well placed, and has the right leadership and team, to make real progress in realising full value from our Blackbird technology and platform”.

In addition, Ian McDonough Chief Executive Officer of Forbidden, will make the following statement:

“Our new strategic direction is to position our business under the Blackbird(R) brand and sell our solutions as a core part of the Company’s video capabilities. We believe Blackbird is the only codec in the world that has been specifically designed for editing (or as we prefer to say manipulating) video in the cloud. As a consequence, it has some very significant points of difference from the competition. It is now our strategy to focus on these real advantages in key verticals.

What does this mean?

It means that Blackbird provides a frictionless, fluid, highly-responsive workstation-like experience in the cloud. No competitor provides this experience as they are using codecs such as H.264/5. H.264 is a streaming codec designed for playback and not high-performance cloud editing. In a typical cloud editing context it can be difficult to manipulate, leading to poor navigation and an unresponsive experience. In contrast Blackbird will edit frame accurately at 60 frames per second as a web-based tool. That is how we position Blackbird. The only true cloud-native solution in a world that is rushing towards the cloud. That’s a powerful place to be.

The Blackbird master brand was officially launched at the National Association of Broadcasters (“NAB”) conference in Las Vegas earlier this month.

We have now elevated Blackbird to become our master brand. The platform known as Forscene is now a part of Blackbird. Our core products under Blackbird are now clearly defined and include Blackbird Forte and Blackbird Ascent.

Blackbird Forte is our premium fully specified story creation and publishing solution. Our roadmap for Forte includes opening up the APIs to interface with enriched graphics packages, time-accurate metadata exchange and Artificial Intelligence.

We have introduced Blackbird Ascent, a simple interface clipper for ‘professionals who are not editors’. These are for people such as journalists, reporters, researchers, marketers and the social media team, who need to clip and publish without professional editing experience.

Blackbird Edge is our other main product, which allows customers to create the proxy on a Linux box, Windows or indeed a Mac. This significantly overcomes complexities of ingesting content into the cloud. Blackbird Edge is a software defined conduit to the power of the cloud whereby content can be tracked while remaining in its existing location. This layer is topped with a selection of lightweight, web-based user applications such as Blackbird Ascent or the more comprehensive toolsets of Blackbird Forte to enable virtual use of the same (original) content without the need to scale up infrastructure. Ultimately the compelling idea that in our world of large video files you move the ‘computing to the content’ rather than the ‘content to the computing’ is a key principle of Blackbird Edge. Customers looking to increase monetisation of video content for online and social media can have these capabilities without the complex rollouts, making Blackbird Edge highly attractive.

With the Java program being translated into JavaScript, we will be able to make the claim that the Blackbird can be used on any standard device, and on any browser from anywhere.

The ongoing roll-out of the Blackbird 9 codec affords users of the proxy a high enough quality viewing experience to publish directly to social media, thus enhancing the efficiency of the media supply chain.

Early adopter customers have already understood the power, speed and quality of Blackbird and we invariably now see it being adopted as an integral component of their technology infrastructure. For us this is a SaaS model with recurring revenues, which is our business model.

Both Deltatre and IMG are great examples of our capability to be part of a large and international media supply chain. Both of these customers have recently renewed their contracts with us and we continue to increase the volume and variety of work we are undertaking with them. Another example of this is in the burgeoning genre of eSports where we are a partner to Gfinity plc and more recently ESP Gaming in Las Vegas.

This approach to the market is a marked change for the business. The combined use of the Blackbird 9 codec and our JavaScript applications enables our technology to be a fundamental component to our clients’ infrastructure and makes Forbidden a valued and key partner to their business. Recently we have announced a number of new infrastructure clients including Practising Law Institute and a significant Japanese telco, as well as some important wins in our traditional post-production business including Middlechild.

As I mentioned in my Shareholder Update on 13 December we had a record number of Proof of Concepts (“POCs”) in play. I’m happy to report a number of these have converted successfully including the fixed rig show and the Japanese telco. The North American broadcaster and several other POCs are also still live. As a policy though we have moved away from the POC strategy, focusing instead on negotiating straight to contract.

The team have just returned from a very busy NAB, where we had a much bigger presence than in 2017 and I can report we have some very interesting infrastructure sales opportunities to follow up in the coming months. These opportunities are looking to build relationships with technology providers to partner with them and provide a non-disruptive path for a flexible and scalable future.

The whole Blackbird team has left NAB with an even greater enthusiasm for the innovative Blackbird platform and the benefits it can bring to more efficiently create and monetise content”.

Enquiries

Forbidden Technologies plc
Ian McDonough, CEO
Jonathan Lees, Finance Director
Tel: +44 (0)20 8879 7245

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

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 our patented Blackbird technology. The technology underpins multiple applications which are used by rights holders, broadcasters, sports and news video specialists, 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.forbidden.co.uk
www.blackbird.video

Social media
www.linkedin.com/company/forbidden
www.twitter.com/BlackbirdCloud
www.facebook.com/BlackbirdCloudVideo/

Award-winning UK producer selects Blackbird Edit, cloud editing platform for documentary TV series

Award-winning UK producer selects
Blackbird cloud editing platform for documentary TV series

London – April 4, 2018 — Forbidden Technologies plc announced today a leading factual, features and entertainment television producer selects Blackbird for a BAFTA and Emmy award-winning documentary television programme.

The production company selected Blackbird to replace an existing EVS system to log and edit footage. The crew will use Blackbird to quickly log media from a gallery quad split of over 50+camera feeds, over an 18-week period.

This project is the first time Blackbird is used in a complete end to end fixed rig production and post-production cycle. Blackbird increases the value of post-production workflows by introducing a single logging toolset that moves seamlessly from location to edit suite. This enables producers and edit producers to review and search media across the entire production using rich logging metadata.

Ian McDonough, the CEO at Forbidden Technologies said, “I am delighted our incredible Blackbird software is extending into a new area of production. The fact we are an end to end solution on a fixed rig show dramatically extends our reach within the industry. We are bringing all the advantages of cloud as well as speed, collaboration and cost efficiencies to the customer which is quite an irresistible combination.”

Blackbird technology allows full visibility of 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.

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

About Blackbird

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 our patented Blackbird technology. The technology underpins multiple applications which are used by rights holders, broadcasters, sports and news video specialists, 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.

 

Significant progress made in the Blackbird transformation to JavaScript, in partnership with Leaning Technologies

Forbidden Technologies plc (AIM: FBT), the developer and seller of cloud video platform technology using its patented Blackbird technology, announces that the Blackbird editor running in a standard JavaScript enabled web browser will be previewed at the National Association of Broadcasters (“NAB”) trade show in Las Vegas in April. This timely breakthrough has been made possible by the Company’s partnership with Leaning Technologies, a leading provider of web application development tools, and will enable the use of the Blackbird platform without requiring installation of any browser plugins or applications.

This Blackbird editor development is the next major step in moving the powerful cloud-native Blackbird suite of production and delivery tools to JavaScript. Developments in JavaScript itself, and the Leaning Technologies tools which support it, have made the rapid development of this product possible.

All features of the Blackbird editor in Java, which has already handled around eight million hours of professional video content in the cloud, will be available in the JavaScript version. Like the original Java version, the Blackbird editor in JavaScript gives the full panoply of video logging, clipping, editing, publishing and distribution tools. Forbidden will be releasing this set of capabilities over time.

Forbidden is making use of Leaning Technologies’ powerful new CheerpJ development tool. CheerpJ converts Java byte code directly into JavaScript web applications, which run in all major web browsers.

In addition to the new editor being 100% compatible with the Java version, any new features in the Java source will be converted into new web application versions.

Blackbird’s professional video editor is the most advanced media application to use CheerpJ.

“This latest partnership is a major resource for Blackbird, accelerating the conversion of the Blackbird editor to JavaScript by many months”, said Stephen Streater, R&D Director, Forbidden Technologies. “This innovation ensures Blackbird will continue to provide best-in-class efficiency in video production workflows for the foreseeable future.”

“I’m delighted that the teams at Forbidden and Leaning Technologies have made progress so quickly and that we have an early version to demonstrate at NAB. The ability to use Blackbird on any web browser will increase our addressable global market and overall market opportunity.” said Ian McDonough, the CEO of Forbidden Technologies.

The CEO of Leaning Technologies, Stefano De Rossi said, “We are delighted that the inspiring Blackbird editor in JavaScript is being demonstrated at NAB 2018, Las Vegas, USA. Compiled with our revolutionary CheerpJ compiler, our tight development processes and dependable software have allowed Forbidden to deliver their JavaScript editor in record time”.

 

Enquiries:

 Forbidden Technologies plc

Ian McDonough, CEO
Jonathan Lees, Finance Director

Tel: +44 (0)20 8879 7245

 

Allenby Capital Limited (Nominated Adviser and Broker)

Nick Naylor
John Depasquale
Katrina Perez

Tel: +44 (0)20 3328 5656

About Leaning Technologies
Leaning Technologies provides its customers with development tools and professional services to develop large-scale, high-performance web applications in Java and C/C++. Its professional services include full porting services, optimisation and WebAssembly consulting, and enterprise support.

Leaning Technologies offers CheerpJ, a Java-to-JavaScript compiler, and Cheerp, a C/C++ to JavaScript/WebAssembly compiler. These solutions enable its users to convert desktop and mobile applications into web applications effortlessly. Leaning Technologies was founded by Stefano De Rossi, Massimo Grava, and Alessandro Pignotti in 2012. It has offices in London, United Kingdom; and Amsterdam, Netherlands.

www.leaningtech.com

 

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 our patented Blackbird technology. The technology underpins multiple applications which are used by rights holders, broadcasters, sports and news video specialists, 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.

www.forbidden.co.uk

 

Director/PCA shareholding

Forbidden Technologies plc (AIM: FBT) announces that it has received notification that Austen Palmer, a Person Closely Associated (“PCA”) with Andrew Bentley, Non-Executive Director of the Company, on 27 March 2018 sold 100,000 ordinary shares at 5.00p and purchased 99,403 ordinary shares at 5.03p in the Company, to be held in his ISA. In addition, …