Three months ago video technology company Forbidden Technologies raised just under £9 million at 20p thanks to an oversubscribed placing – that was a game changer. The share price does not reflect that game change. The shares are buy with an initial 45p target. Here’s why.
CEO Stephen Streater at the UK Investor Show 2013.
Forbidden Technologies (FBT), the AIM-listed owner and developer of leading ‘Cloud’ video post-production and editing platform, ‘FORscene’, has announced an up to £9 million fundraising for expansion and further development. Conditional on 15th July General Meeting approval, £8 million is to be raised via a “significantly oversubscribed” placing at 20p per share, with a further up to £1 million via an open offer at the same price.
As can be seen from the daily chart of Forbidden Technologies, the shares had their time in the limelight going into the start of 2012. Those lucky enough to be on board an unfilled gap to the upside from the 20p's were treated to a Happy New Year at a peak for the shares towards 50p.
