Formation Share Discussion Threads

[blueball] 28/3/2014 16:26

Correct mylands.

[mylands] 28/3/2014 16:13

... except for the re-appointment of the auditors.

[blueball] 28/3/2014 16:08

AGM all resolutions passed.

[blueball] 27/3/2014 09:21

In other words David Kennedy has trebled his holding from 4% to 12% that has to be good news.

AGM Friday.

[mylands] 27/3/2014 09:19

If the company needed funds in the past it simply got a secured loan from the Kennedy family at 10%!

So, putting cash in is a big change. Maybe we are going to get a div worth at least 10% on the current price?

[jonc] 27/3/2014 09:14

Yes I agree.

He is hardly likely to stump up the cash if he thinks the company is going nowhere.

[mylands] 27/3/2014 08:42

I Rrckon this is a big vote of confidence at the current price level:

RNS Number : 3342D

Formation Group PLC

27 March 2014

27 March 2014

Formation Group PLC

("Formation" or the "Company")

Sale of Treasury Shares to Related Party

The Company announces that it has sold 16,497,258 treasury shares, representing approximately 7.48%, to Kennedy Private Trust Company, a related party. Following this transaction Kennedy Private Trust Company holds 25,320,787 ordinary shares representing approximately 11.48% of the issued share capital.

The shares were sold for 1.90 pence per share (being the closing mid-market price on 24 March 2014) resulting in a cash receipt by the Company of GBP313,447.90. This cash will be used for working capital purposes by the Company, pending receipt of the Redrow Home Limited monies referred to in the company's announcement of 21 March 2014.

Under the AIM Rules, the sale of the treasury shares constitutes a related party transaction given the buyer's relationship with the Chairman and CEO of the Company David Kennedy who, together with certain related parties, holds a majority shareholding in Formation. In accordance with the AIM Rules, the directors independent to the transaction are required to consider, having consulted with the Company's Nominated Adviser, that the terms of the transaction are fair and reasonable.

The independent directors consider, having consulted with Zeus Capital, that the terms of the transaction are fair and reasonable insofar as shareholders of Formation are concerned.

Contact details:

Formation Group PLC - David Kennedy; Chief Executive Officer - 020 7920 7590

[robdance] 27/3/2014 08:41

Company sold 16M treasury shares to Kennedy trust fund at 1.9p for working capital

[blueball] 27/3/2014 08:29

Whats the RNS about anyone..?

[blueball] 26/3/2014 13:54

fenseal I expect this to remain around the same price for the next sessions .

[blueball] 25/3/2014 16:24

I reckon its good a good chance its come through the last 5 years and now has money in the bank to invest in new property and London is the place to be..gl

ps I have held since October .

[fenseal3] 25/3/2014 16:16

blueball, i don't know about you but for me this is the best ISA share going at the mo....the next 24 months will see property take over anything else as a good bet, they are in the heart of things and making money, they have contacts and have been through the mill only to come out shining, looking forward to the next 24 months here and a share price...fingers crossed 10p MC 20m, GLA!!!!

[blueball] 25/3/2014 16:10

Yes I hold fenseal the London and South East housing market is boiling so I read in the daily papers.

[fenseal3] 25/3/2014 16:08

No, just watching and posting my thoughts...but we are blue now so my feelings towards this share are not far away from whats happening, are you happy we are blue, you still hold don't you..?

[blueball] 25/3/2014 16:03

Friday is the date of the AGM should be interesting.

[fenseal3] 25/3/2014 15:59

Bid up, mm's fishing for shares always a good sign.

[blueball] 25/3/2014 15:57

Talking the price up again..?

[fenseal3] 25/3/2014 15:47

Just a blip, can buy 100k....@ 2p!!!!, bargain.

[fenseal3] 25/3/2014 15:45

Again, can't buy a bean, that 49k buy has shut up the shop, when this happens with this share it turns blue and up to the next level, fingers crossed!!

[fenseal3] 24/3/2014 08:22

A few have taken profits first thing, but now looking strong again for a rally....a move to 3p is on the cards, then settle till next news, GLA!!!

[blueball] 21/3/2014 16:28

Thanks for that barnetpeter.. I'm not selling for a while.

Anyone going to the AGM in London next week..?

[babbler] 21/3/2014 16:03

Surprised this hasn't crossed 2p with the news! Strange...

[tara7] 21/3/2014 15:54

OFF PLAN FUND 90 pence of house for 9p was my thread.

Total return c 86p

All in under two years.

With a booming market FRM JUST MIGHT DO THE SAME.

If they have land options

[tara7] 21/3/2014 15:48

Yes OFF PLAN FUND WAS WHAT GOT MY PENSION INTO GEAR.

[barnetpeter] 21/3/2014 15:44

blueball....I bought offplan at up to 20p...I got back over 500% in total.

Jon...maybe that was one of the ideas. Plenty of chunky buying this week and then the rns today....