Formation Share Discussion Threads

[crescenter] 04/1/2017 15:17

Added 454032 to bring me back to 2m.

[crescenter] 04/1/2017 14:06

I was the only PI at the GM.

The motion was approved on the proxy votes.

It was very useful as I now have a better understanding as to what is happening and the motives for the move to ISDX.

I am in fact pleased that I held on as I believe that there is plenty of action to come that will shift the shareprice higher.

Will be buying more as a few funds become available.

[barnetpeter] 16/12/2016 11:08

Look at this from last year.....


Business Highlights

-- Group revenue growth of 199% to GBP23.764m (2014: GBP7.941m) on the back of an increasing workload driven by the current strong London property market;

-- Profits before taxation of GBP2.203m from continuing operations (2014 loss: GBP0.099m);

-- Income of GBP2.421m recognised from the profit share agreement with Sunbel Development Limited and Pinacle Developments Limited in relation to a development property at Norwich House;

-- Receipt of GBP4.638m in full and final payment of the Group's Aldgate

-- The Group continues to develop its interest in the vibrant property development sector and anticipates profits from its continuing development at 159-161 Iverson Road, London NW6 in the year ending August 2016:

[barnetpeter] 16/12/2016 11:03

No it wont..


"The percentage of securities in public hands (as defined in the ISDX Growth Market Rules for Issuers) is 25.71 per cent.

There are currently no options or warrants over Ordinary Shares outstanding".



I am not prepared to sell either.....I doubt the price falling much more than the current share price The company has a lot of cash and property. I really dont understand the logic of delisting....the value of the concert party shares is down by over £15 million. Even if the company is asset stripped they wont get anything like that back.

Many PI's have sold out at around 1.5p to 2p and all these shares have been bought up ....I can only think by someone who knows the company well. If we see the results are as stonking as previously promised then the mystery deepens...

[barnetpeter] 06/12/2016 14:33

Look at all the trades again today. This must be related trades....another million with a couple of 250K. Someone thinks its too cheap.

[thailand] 05/12/2016 17:15

I'm thinking of getting a bag of chips with the proceeds of the sale of my Formation holding, today. I'll have to find a few bob to put towards it though, of course.

[barnetpeter] 05/12/2016 13:30

yes so what will happen to all this cash???/

[crescenter] 03/12/2016 09:52

Yep the directors have managed to crash the shareprice when the company itself is in the strongest position for many many years.

[runwaypaul] 02/12/2016 15:02

impressive collapse.

[barnetpeter] 01/12/2016 15:06

My guess is the company has 4 pence a share in cash. It made 2 million from one deal....

[barnetpeter] 01/12/2016 15:04

Well someone is buying in numbers here not seen for a year. 5 million traded....

Now it couldn't be that directors are all buying today, they announce huge profits, cash dividend and then say the delisting is cancelled.

That would not happen......nope.

[martincc] 01/12/2016 14:13

barnetpeter,
Looks like he was right. I wish I'd paid more attention at the time, just happy to be out with at least something.

Had a check on the company website, they're probably too busy because there's no update for today's rns and the share price is still 3p.

They value their shareholders apparently -

“We pride ourselves in delivering quality developments to our clients and value our shareholders.Imaginative build processes, exceptional quality control and meeting targets is central to our company culture.”
DAVID KENNEDY Group Chief Executive.

Under Corporate Governance -

Nominations committee
The members of the Committee are D. Kennedy(Chairman), M. Kennedy and P. Kennedy

Audit committee
The members of the Committee are D. Kennedy(Chairman), M. Kennedy and P. Kennedy

Renumeration committee
take a guess?

[barnetpeter] 01/12/2016 14:08

All these buys going through....????

[barnetpeter] 01/12/2016 12:14

"Formation is: i) a governance nightmare, with the Kennedy family owning a 60% stake & activities devoted primarily to related-party deals/JVs, and ii) essentially, a construction management company (a perpetually unattractive business for most investors)"


Here it is......all those millions in cash in the bank will go to whom exactly?

[barnetpeter] 01/12/2016 12:05

We were warned by a poster on here that corporate governance was a real issue and that the directors could simply take the company private.

[mylands] 01/12/2016 10:49

With two on the bid at 1.75p and nothing but selling going on, there must be someone buying the stock. The question is why with the move to ISDX making the stock more illiquid and giving PI's even less chance of an exit.

[martincc] 01/12/2016 10:24

Looks like the only option for smaller shareholders is to accept what's being offered at the moment in the market (1.77p) or wait and trust the management to 'look after your interests' over on ISDX.

[barnetpeter] 01/12/2016 08:58

I wondered about this. I reckon plenty knew about this and that last rns was a clue. So we now have to sell at a big loss below cash or wait and see whether anything happens. Of course we can now be diluted and the directors can award themselves huge contracts. Have a look at Atc as an example.....the company is flying and had three take over approaches but nothing for pi's and company is issuing director options and new shares for mates at a fraction of the previous prices.

[martincc] 01/12/2016 08:47

Obviously is a buyer,3 mms have moved up on the bid, can sell at 1.85p at 8x nms and buy at 2.00p

[mylands] 01/12/2016 08:42

Anything is possible, who knows what shenanigans are going on.

[martincc] 01/12/2016 08:21

Looks like someone is buying at 2.38p, wonder who that is?

[martincc] 01/12/2016 08:19

PEEL suddenly popped up on the bid at 2.25p at 8:03.My guess is the management will mop up all the shares from sellers at a knockdown price to really screw the shareholders, then take the company private?

[mylands] 01/12/2016 08:09

End of an era. I first invested in ProActive Sports, as Formation were then called, when they had just entered AIM.

Not good news for us longterm hoilders who have seen this stock rise, fall, rise and then fall again. All very sad and depressing.