Result of General Meeting
On 1 December 2016, Forbidden Technologies plc (AIM: FBT), the AIM-quoted market-leading cloud video platform owner of Forscene, announced a placing to raise GBP3 million (before expenses) through the issue of 30,000,000 new ordinary shares of 0.8 pence each (the “Placing Shares”) at a price of 10 pence per Placing Share (the “Placing”) in two tranches.
The first tranche of the Placing, being the issue of 7,524,250 Placing Shares (raising GBP752,425), was not subject to shareholder approval, and the shares were admitted to trading on AIM on 6 December 2016.
The second tranche of the Placing, being the issue of 22,475,750 Placing Shares to raise a total of GBP2,247,575, was conditional upon, inter alia, the passing of the resolution put to shareholders of the Company at the General Meeting held earlier today (the “GM”).
The Board is pleased to announce that the resolution put to shareholders at the GM has been passed.
The Company has applied for admission to trading on AIM for the second tranche of the Placing Shares (“Admission”) and it is expected that Admission will take place on 29 December 2016.
Following Admission the Company will have 180,486,199 ordinary shares in issue, all with 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 180,486,199.
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
Aziz Musa, CEO
Tel: +44 (0)20 8879 7245
Allenby Capital Limited (Nominated Adviser and Broker)
Nick Naylor, John Depasquale, Richard Short, Katrina Perez
Tel: +44 (0)20 3 328 5656
Redleaf Communications (Financial PR)
Rebecca Sanders-Hewett, David Ison, Susie Hudson
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 with multiple applications which can be used by rights holders, broadcasters, sports and news video specialists, post-production houses, other mass market digital video channels, corporates and consumers. The platform applications help customers improve their time to market on time sensitive content, and efficiently exploit the full value of their content.