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), is pleased to announce the following changes to its Board. David Main, currently a non-executive director, becomes the Company’s non-executive Chairman. Stephen Streater, the Company’s founder and current Executive Chairman, becomes Director of R&D, executive director responsible for the Company’s research and development activities. These changes are with immediate effect.
Commenting on his new role, David Main, Chairman of Forbidden Technologies plc said:
“I am pleased to take on the further responsibilities as Chairman of Forbidden. This is an exciting time for the Company given in the last year it has generated real momentum behind the commercial growth of Forscene and launched both eva and Captevate. The prime focus is to drive the commercial success of our video solutions and I look forward to working closely with Aziz, Stephen and the team, helping spearhead our growth in the years to come.”
Stephen, Founder and Director of R&D, added:
“As Chairman, I was able to support Aziz in his new role as CEO. Now Aziz has established himself and is demonstrating his success daily, and with David agreeing to become our Chairman, I can focus again on my core area of interest – maintaining our leadership in video technology solutions.”
The Company is also in the process of concluding a placing to further drive sales traction. Noting the share price increase since the announcement made on 4 May 2016 the placing price will, as a result, be at a substantial discount to the current market price. A further announcement will be made shortly.
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.
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