Formation Group PLC (AIM: FRM) announces that it was notified on 20 January 2015 by Mr William O'Dea Chairman of the Company that, at the time of his appointment on 30 May 2014, he held 2,000,000 ordinary shares of 1 pence each, representing 0.907% of the issue share capital of the Company. This shareholding was omitted from the announcement of Mr O'Dea's appointment. As at 21 January 2015 the holding remains unchanged.
Formation Group PLC:
David Kennedy - Chief Executive Officer - 020 7920 7590
NOMAD to Formation Group PLC:
Zeus Capital Limited - Ross Andrews / Andrew Jones - 0161 831 1512
Since the period ended 28 February, 2014 Formation Group Plc has to date received GBP1.59m of the GBP6.8m anticipated to be repaid to it by June 2014 from its 36.88% equity interest In J V Finance Ventures Limited, loan provider to Julius Properties Limited at Aldgate. As announced on 28 February 2014, the Company still expects to receive the majority of the outstanding amount due by 30 June 2014. The Group is pleased to announce that it has an increasing order book on project management contracts. The board believes that the resulting income streams from these contracts will help improve the Group's trading position going forward. Formation intends to utilise the proceeds from its J V investment to purchase development sites with a mixture of cash and bank funding. On 11th April 2014, Formation announced the first of these development sites.
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