Results of GM and AGM
On 9 May 2016 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), announced a placing to raise GBP1.3 million (before expenses) through the issue of 18,571,421 new ordinary shares of 0.8 pence each (the “Placing Shares”) at a price of 7 pence per Placing Share (the “Placing”) in two tranches.
The first tranche of the Placing, being the issue of 5,374,283 Placing Shares (raising GBP376,200), was not subject to shareholder approval, and the shares were admitted to trading on AIM on 12 May 2016.
The second tranche of the Placing, to raise a total GBP923,800 by the issue of 13,197,138 Placing Shares was conditional upon, inter alia, the passing of the resolution to be put to shareholders of the Company at the GeneralMeeting held today.
The Board is pleased to announce that all resolutions put to shareholders at the Company’s General Meeting and AGM held earlier today have been passed.
The Company has applied for admission to trading on AIM (“Admission”) for the second tranche of the Placing Shares and it is expected that Admission will take place on 7 June 2016.
Following Admission of the second tranche of the Placing Shares the Company will have 150,486,199 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 150,486,199.
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
David Main, 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.