|
Forbidden Technologies - Loan Repayment
26-07-2010
Forbidden Technologies (AIM: FBT), the AIM quoted developer of the market leading Cloud video platform FORscene, is pleased to announce that following the exercise of option announcement and receipt of £144,000 on Friday 23 July, the Board has decided to repay the entire £78,500 outstanding loan given to the Company by Vic Steel, the Company’s Chairman
The repayment of this loan to Vic Steel will also end the Company’s interest payments of 10 per cent per annum on this loan.
Stephen Streater, Chief Executive of the Company, is currently not charging interest on the loan he has made to the Company, which has stood at £706,500 for the last year.
The Company has no other loans.
End
Enquiries
Bishopsgate Communications
Tel: 0207 562 3358
Gemma O'Hara/Siobhra Murphy
Click here to return to the press release archive |
