FRM.L Regulatory News (FRM)

22 Jun 2007 07:01

Formation Group PLC22 June 2007 Formation Group plc ("Formation" or the "Group") Admission of Equity Following the passing of the resolutions at the Extraordinary General Meeting ("EGM") held yesterday, the Group announces the admission, in aggregate, of196,949,431 ordinary shares of 1p each ("Ordinary Shares") (being there-admission of 126,361,196 existing Ordinary Shares and 70,588,235 OrdinaryShares issued pursuant to the acquisition of Columbia Design & Build Limited ("Columbia")) to trading on AIM today. Neil Rodford, Chief Executive Officer of Formation commented: "The completion of our acquisition of Columbia Design & Build Limited ("Columbia") is a significant step forward in the strategic development of the Group andour objective to establish a property division. With Columbia now part of theenlarged Group, we are, through this new division, able to offer full propertymanagement services from site evaluation, design and build through to projectmanagement and completion. In addition, we are able to offer existing and futureclients of the Group an opportunity to invest in the development projectsmanaged by Columbia through bespoke investment products devised by the Group'sestablished wealth management and professional services division. Formation is at an exciting stage of its development. As a result ofestablishing this new division and the complementary investment opportunities itcreates, we view the prospects for the enlarged Group very positively." Following the EGM and Admission, Richard Noel O'Carroll has also been appointedas a director of the Company. For further information: Neil Rodford, Formation Group plc Tel: 01625 539832 David Youngman, WH Ireland Limited Tel: 0161 832 2174 This information is provided by RNS The company news service from the London Stock Exchange