28 Aug 2015 07:00
Formation Group PLC
("Formation" or the "Company")
28 August 2015
Further re Profit Share Agreement
On 8 July 2015 Formation announced a profit share agreement with Sunbel Development Limited and Pinacle Developments Limited in relation to a development property on Streatham High Road, London, entitling Formation to 40 per cent. of the net profit arising from that development.
The Company is pleased to announce that it has now received the sum of £2 million as part of the profit share arrangement and this will be reinvested by Formation in future property developments.
The Company intends to issue a more detailed trading statement shortly.
--ENDS--
FOR FURTHER INFORMATION, PLEASE CONTACT:
Formation Group Plc David Kennedy - Chief Executive Officer
|
020 7920 7590 |
Nominated Adviser Northland Capital Partners Limited William Vandyk / Gerry Beaney
|
020 7382 1100 |
Broker Peterhouse Corporate Finance Limited Duncan Vasey / Fungai Ndoro |
020 7469 0930 |
FRM.L (FRM)