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still kicking myself for not keeping my shares... hey ho.
+28% todays bagger coming up
if carlesburg did RNS +25%
Just checking in. I commented here when it was less than 2p how good it was. Could have tripled my money. Hey ho.
4 million profit sounds excellent and hope you didn't lose much on the other share, hopefully we see more blues tomorrow on FRM . Best regards
Thanks for your words re the other share! Was out all pm and evening, so didn't see the action there or here. Initial thoughts on our RNS - I've done quite a bit of new build development, as a very rough rule of thumb, development works on 1/3 for land cost, 1/3 development cost and 1/3 profit. So 98 units at 300k sale on average (ish) should be almost 10mln profit. 40% to FRM makes them c.4mln to me. Not a bad deal is it? FRM deserved to have a decent rise today - maybe it will come tomorrow as so often happens!
A lot of money once all sold and 40% of profit , still looking at several millions, a little disappointed the share didn't move much today but dipped, hopefully over the comming weeks will move north again as its done over the past several months
are £285,00 and studios are £260,000
for the next acquisition From the RNS : As at 7 July 2015 the majority of units in the development had been reserved. It is anticipated that approximately half of the units will be completed by the end of August 2015 and the balance completed by the end of September 2015
Sorry about the other shares , thought it was good news but the market didn't take it well EUA , best regards
on the dip today as it's a cracking RNS
Are clever showing two delay sell for 6.20 , that must be from yesterday price a little down but it should close north with a blue
Short term
Sell and price dips a little to 7.88
My estimates were around 9 million. Seriously undervalued share.
250,000 as an example make 24million , take all reduction and 6 million profit sharing at least , if 250,000 was taken into consideration , but knowing it London it could go far more then that .
ker ching!!
Nice - I'm in
Wakey wakey RNS out , even better , Fonter you were right always deliver better news each time
A dam excellent news , worth many millions considering the amount of unit and 40%
Formation Group plc ("Formation" or "Company") is pleased to announce that it has entered into a profit share agreement with Sunbel Development Limited ("Sunbel") and Pinacle Developments Limited ("Pinacle") in relation to a development property at Cromer Court, 9-19 Streatham High Road, London which is being converted from office space to 98 residential units. Under the terms of the agreement, Formation has advanced to Sunbel the sum of £2,443,671.31 to continue work on the development which commenced in June 2014. The loan attracts no interest but instead Formation will be entitled to receive 40 per cent. of the net profit arising on the development (i.e. the profit generated from sales of units after the repayment of debt utilised to purchase the site, the cost of development, taxation and repayment of the loan advanced by the Company). Payments of the various costs and profit share will be made once 95 per cent. by value of the units within the development have been sold. David Kennedy and Patrick Kennedy, Chief Executive and Non-executive director of Formation respectively, are directors of both Sunbel and Pinacle and thus the agreement is considered to be a transaction with a related party under the AIM Rules for Companies. The directors of Pinacle, other than David Kennedy and Patrick Kennedy, having consulted the Company's nominated adviser Northland Capital Partners Limited, consider that the terms of the transaction are fair and reasonable insofar as shareholders are concerned. As at 7 July 2015 the majority of units in the development had been reserved. It is anticipated that approximately half of the units will be completed by the end of August 2015 and the balance completed by the end of September 2015.
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Slowly coming in , see this finishing blue
I asked my broker who told me that it might open up later on the day today or by tomorrow morning , the reason for the suspension to advise the shareholders of the value & costing .