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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Volution Group Plc | LSE:FAN | London | Ordinary Share | GB00BN3ZZ526 | ORD GBP0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-5.00 | -0.81% | 615.00 | 614.00 | 616.00 | 624.00 | 614.00 | 620.00 | 758,940 | 16:35:28 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Equip Rental & Leasing, Nec | 347.61M | 42.8M | 0.2163 | 28.48 | 1.23B |
RNS Number:9647F Formation Group PLC 11 July 2006 Formation Group plc Disposal of Proactive Scandinavia A/s Formation Group plc ("Formation Group" or "the Company"), the sports marketing and management company, is pleased to announce the disposal of Proactive Scandinavia A/s ("Proactive Scandinavia"), its Scandinavian football agency business based in Denmark, for a total cash consideration of #2.0m. The sale has been agreed with First Artist Corporation PLC who will be paying #1.9m of the total consideration in cash upon completion, with the balance payable on the first anniversary of completion. The Board of Formation Group considered the financial offer for Proactive Scandinavia in the context of its future development potential within the Group and felt that it was in the best interests of both the Company's shareholders and the employees of Proactive Scandinavia to accept the offer. The consideration will repay the Group's bank borrowings, with the surplus being available for reinvestment by the Company. In its last full financial year ended 31 August 2005, Proactive Scandinavia made a profit after tax of approximately #0.2m. The goodwill and net assets of Proactive Scandinavia are approximately #1.8m. After expenses incurred on the transaction, Formation Group has incurred a loss on disposal of #0.3m. Proactive Scandinavia made a loss after tax of #0.2m in the nine months' period ended 31 May 2006. Neil Rodford, chief executive of Formation Group, commented; "This is a logical step for us to take as we plan for the future of Formation Group and is an attractive agreement for all parties. On behalf of the Board, I would like to thank the employees of Proactive Scandinavia for their contribution to the Group and wish them continued success in the future." Contacts: Formation Group plc, Neil Rodford, Chief Executive Tel: 00 44 (0)1625 539 832 WH Ireland Ltd, David Youngman Tel: 00 44 (0)161 832 2174 Biddicks, Katie Tzouliadis Tel: 00 44 (0)020 7448 1000 This information is provided by RNS The company news service from the London Stock Exchange END DISGGGMNVGVGVZM
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