Share Name Share Symbol Market Type Share ISIN Share Description
Formation Group LSE:FRM London Ordinary Share GB0030432735 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 1.75p 0.00p 0.00p - - - 0 06:39:32
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 29.4 2.2 1.2 1.4 0.77

Formation Group Plc - Result of AGM; Consolidation of Share Capital

27/02/2017 4:00pm

PR Newswire (US)


Formation (LSE:FRM)
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27 February 2017

FORMATION GROUP PLC

('Formation' or the 'Company')

Result of AGM; Consolidation of Share Capital

Formation Group PLC (NEX: FRM), the property development and project management company, announces that at the Annual General Meeting of the Company held earlier today, all resolutions were duly passed.

Accordingly, the share capital of the Company will be consolidated (the "Share Consolidation"). Under the Share Consolidation, every 5 existing ordinary shares of 1 pence each in the Company (“Existing Ordinary Shares”) in issue at the close of business on the Record Date of 27 February 2017, will be consolidated into one new ordinary share of 5 pence each in the Company (a “Consolidated Ordinary Share”). 

Shareholders who hold their Existing Ordinary Shares in uncertificated form are expected to have their CREST accounts credited with Consolidated Ordinary Shares on 28 February 2017. Existing share certificates will cease to be valid following the Share Consolidation. New share certificates are expected to be issued by 7 March 2017.

Trading in the Consolidated Ordinary Shares on the NEX Exchange Growth Market is expected to commence at 8.00am on 28 February 2017.

Following completion of Share Consolidation, the Company will have 44,103,023 ordinary shares of 5 pence each in issue carrying voting rights. The Company’s new ISIN will be GB00BYXQZ969.

The directors of the Company accept responsibility for the contents of this announcement.

--END--

Enquiries:

Formation Group plc
David Kennedy, Chief Executive Officer
Tel: +44 (0) 20 7920 7590
Peterhouse Corporate Finance Limited (Corporate Adviser)
Fungai Ndoro and Mark Anwyl
Tel: +44 (0) 20 7469 0930

Formation Group Plc (NEX: FRM), headquartered in East London, is an NEX Exchange Growth Market traded Company focused on property development and project management services for medium and large scale building projects in London and the City periphery.

The Company’s portfolio includes both new build and conversion projects, and is also diversified through a limited exposure to commercial work and the rental sector.

The management team combines significant Plc experience with property expertise. The Company is well positioned to exploit a buoyant London residential property market, and believes that the newly added property development division will form a substantial part of its profitability in the future.

Copyright y 27 PR Newswire

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