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ok just noticed it doesnt trade on AIM anymore just on ISDX... not sure if LSE showing correct then.
All for a mcap of £3m ish? Group revenue growth of 24% to £29.410m (2015: £23.764m) on the back of an increasing workload driven by the current strong London property market; Profits before taxation of £2.157m from continuing operations (2015 profit: £2.203m); Income of £1.424m recognised from the profit share agreement with Sunbel Development Limited and Pinacle Developments Limited in relation to a development property at Norwich House (2015 £2.421m); The Group is pleased to report continued sales of its apartments in its completed development at 159-161 Iverson Road, London NW6 in the year ended 31 August 2016.
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/FRM/13067608.html
If you followed LSE share talk Twitter account you would know what is going on
When are results coming out? & What's the next project? Is he concerned about the current SP and where does he see the SP by the end of the year? Thanks
On LSE Share Talk - Any Q please post & I will try to ask
2016 – The Great Irish Share Valuation Project (Part I): Company: Formation Group (FRM:LN) Last TGISVP Post: Here Market Cap: GBP 14.3 M Price: GBP 6.5p At 2.05p per share, I tagged FRM as a ‘penny stock, which…could rally very nicely if it catches investors’ attention’. Little did I see it trading sideways for a year…only to transform, in a mere eight months, into a bloody six-bagger (hitting a 12.7p high). A typical case of small PIs losing their friggin’ minds! Formation is: i) a governance nightmare, with the Kennedy family owning a 60% stake & activities devoted primarily to related-party deals/JVs, and ii) essentially, a construction management company (a perpetually unattractive business for most investors) that still can’t turn a profit, despite the ramp-up in revenue…and risks. Granted, the Kennedy Show works both ways, as FRM earned a quick £2 million on this related-party deal & the construction business arguably covers an otherwise substantial overhead burn for such a small company. [Though if we exclude the sweetheart profit, FRM’s actually made zero progress vs. my £6.9 million adjusted equity estimate from two years ago]. But overall, considering the improved investor sentiment & likely near-term news/profits from its Iverson Road development, a 1.0 Price/Book ratio now seems appropriate (based on adjusted equity, to reflect the post year-end write-back of non-recourse Dunbar Assets loans): (GBP 7.6 M Equity + 1.0 M Neg Equity Reversal) * 1.0 P/B / 221 M Shares = GBP 3.9p PIs got well ahead of themselves here…despite being sliced in half since the Jan high, FRM remains substantially over-valued. And if 6.25-7.25p support breaks, we’ll probably see another nasty shake-out. But the elevated share price may still be good news for management, as a substantial fundraising might be possible, which would help close the value gap here (as NAV would increase) – and with two well-known Irish politicians appointed since as directors, a new focus on Irish investors/projects wouldn’t be surprising, though Greater London residential also remains attractive. Price Target: GBP 3.9p Upside/(Downside): (40)% For related links/graphs/files, and more TGISVP analyses/price targets, see: https://wexboy.wordpress.com/2016/04/26/2016-the-great-irish-share-valuation-project-part-i/
http://www.foxtons.co.uk/newhomes/norwich-house/ When that is sold payment will be made soon to FRM and that should be a very nice profit. Price has been hammered a bit due to impatience and tax sellers but now on the bounce should be good for 8-10p maybe when they Rns this payment in the next 6 weeks guesswork
They upped the bid just before the close. Waited a hour to see if there was a delayed buy but nothing. Maybe a mm sees value and wants to buy stock while it's low and now the tax loss sellers have done their deals.
You like your penny shares ,don't ya Mick ?
You like your penny shares ,don't ya Mick ?
Considering it's been over double figures recently sub 7.5p offer seems good value and nice 82k buy this morning which is a rare trade in such a quiet stock.
Expected results hence a few selling, but the 23/9/15 statement was one of the reasons I bought in here: "As a result of these developments, the Board is confident that profits for this financial year, ending 31 August 2016, are likely to be substantially in excess of double the £1.75m anticipated in the financial year ended 31 August 2015. It is also anticipated that this exceptionally strong performance will generate sufficient cash for the Company during the forthcoming year to invest in further projects, some of which are already in the process of being appraised"
FWIW, I have beat 12p for 23-28p ...
im expecting more good news shortly and the sp to rise sharply imo
shareprophets.com/views/15275/zak-mir-s-bulletin-board-heroes-formation-group-independent-oil-gas-mediazest-powerhouse-energy-sable-mining-xtract-energy
zak mirs 14p target http://*********************/views/15275/zak-mir-s-bulletin-board-heroes-formation-group-independent-oil-gas-mediazest-powerhouse-energy-sable-mining-xtract-energy
Hopefuly over the next few days
maybe not today but over the coming days I bet currently 9.25p to sell and they dont have much on the ask
and still pretty quiet compared to earlier. Wont break 10 on the volume today.
newbie traders lol have they not read the news..... FRM is not one for huge volume and it doesnt really spike that much but when it does start to get going it rises day after day. I added another small lot, will look to add more.
To have gone quiet. Plus a few sells from people who held for ten minutes.
Yesterday seemed to sum it all up rather well. Looking back it would appear sp has never been over these kind of levels, unless I've missed something? It doesn't add up
Seems like they wanted it on the book before they open the gates. What's the betting they shut them again soon! It must indicate strong demand surely?
Makes no sense, why stop you from buying for an hour if there is a 100k sell in the background