16 Sep 2016 16:26
Formation Group Plc
('Formation' or 'the Group')
Further extension to development loan facility
Further to the announcement of 20 June 2016 regarding the extension of the loan facility relating to the development at 159-161 Iverson Road, London NW6, the Company announces that the lender has agreed to a further extension until 10 November 2016.
The amount outstanding is currently at c.£2,404,908 (reduced from £3.9m at 20 June) and there are a further four units under offer (with £3,645,000 gross value) at present which when completed will discharge the balance of the facility.
16 September 2016
- ENDS -
Enquiries:
Formation Group plc Tel: +44 (0) 20 7920 7590
David Kennedy, Chief Executive Officer
Northland Capital Partners Ltd (Nomad) Tel: +44 (0)20 3861 6625
Tom Price
Peterhouse Corporate Finance Limited (Broker) Tel: +44 (0) 20 7469 0930
Duncan Vasey / Fungai Ndoro
Yellow Jersey PR Limited (Media Relations) Tel +44 (0) 7825 916 715/
Dominic Barretto / Alistair de Kare-Silver +44 (0) 7768 537 739