FRM.L Regulatory News (FRM)

Formation Group PLC

Directorate Change

Formation Group PLC (the "Group") announces the appointment of Mr David Anthony Kennedy Jr as the Group's Chief Executive Officer. David, 31, will join the board with immediate effect.

Noel O'Carroll, who has been the Company's interim Chief Executive Officer since July 2009, will remain on the board as Managing Director of the Property Division.

John Lawrence, Non Executive Chairman, said: "The appointment of David reflects the Group's focus on its property businesses. David brings significant experience in the property industry which we believe will benefit the Group in the future".

This announcement sets out the disclosures required pursuant to Schedule 2, paragraph (g) of the AIM Rules for Companies in respect of that appointment.

David is currently a director of the following companies:

Albus Property Ltd, Beckett College Group Ireland Limited, Beckett Education Group UK Limited, Beckett University Group Limited, Bern Investments Limited, Brier Holdings Limited, Calderon Limited, Ceva International Limited, Chianti Holdings Limited, Farway Trading SA, Gulf Piling Limited, Goldbrown Limited, Hallfield Real Estates Ltd, Halton Securities Limited, Kedai Limited, Kharla Property Holdings Limited, Magnolia Services Limited, Mangrove Securities Limited, Monticello Trading Limited, Murex Properties Limited, Muscadet Properties Limited, Nedville Consultants Limited, Pearl Properties Limited, Solent Equities Limited, Spokane Trading Limited, Stilton Limited, Streetwise Limited, Tandridge Holdings Limited, Truelex Holdings Limited, Vuillard Holdings Limited, Columbia Estates Management (IE) Limited, Derk Estates Limited, Dublin Corporate Cabs Limited, Eimur Limited, Lonadale Limited, Aquarelle Holdings Limited, Banleman Properties Limited, Blines Trading Limited, Columbia Design & Build (C.I.) Limited, Columbia Estates (C.I.) Limited, Cheapside Stores Limited, Cliffview Properties Limited, DK Holdings Limited, DAK Holdings Limited, Hanau Limited, Janvrin Properties (St Helier) Limited, LKC Holdings Limited, Mabrook Properties Limited, Moonshine Holdings Limited, No 1 Parade Holdings Limited, Rockwood Holdings Limited, PTK Consultants Limited, Tracent Limited, JGW Limited, Beckett College (London) Limited, Imperando (UK) Limited

David has also within the last five years been a director of the following companies:

Aarau financial Technology International Limited, Akay Management Services Limited, Alexandra Park Limited, Courtside Services Limited, Mayflower Industries Limited, Vesconte Properties Limited, Regal Properties Inc.

David does not hold any shares in the Group directly but is interested in shares of the Group indirectly through the following:

David is a director of Streetwise Limited which holds 74,747,354 Ordinary Shares in the Group (representing approximately 36.64 per cent. of the issued share capital). Tulip Trust owns 100 per cent of the issued share capital of Streetwise Limited. David is a potential beneficiary of Tulip Trust.

Fitel Nominees Limited holds 30,822,813 Ordinary Shares in the Group (representing approximately 15.11 per cent. of the issued share capital) as nominee for David Kennedy Sr who, in turn, holds them in trust for Tulip Trust. As noted above, David Kennedy Jr is a potential beneficiary of Tulip Trust.

There is no other information which needs to be discussed pursuant to Schedule 2, paragraph (g) of the AIM Rules for Companies.

Ends

Enquiries

Formation Group PLC -  Desmond Khan; 020 7920 7590

NOMAD to Formation Group PLC; Zeus Capital Limited - Ross Andrews; 0161 831 1512

- Tom Rowley