(FRM) Formation Group

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21-02-12	Buy No Subject	ta222


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yep, me More View thread 1 Respond Login to Vote up
17-10-11	Buy Bottom Fishing	ichithekiller


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I have been waiting to average down my position. My feeling is now is the time to BUY more. The potential upside could be 2-3 fold on a spike. Is anyone out there thinking the same? More View thread 1 Respond Login to Vote up
30-08-11	Value of the company	Krayl


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I am no expert at reading accounts but looking at this as a property company they appear to have real assets (not including good will) of about 6.2M or about 3p per share. That would make the current share price about right even if they do get rid of the contingent liability. This doesn't seem right. In my post in Sept 2009 I remarked that they had cash reserves of 8M, so where has it gone? On the other hand they had revenue of 2.3M in 6 months, on which they managed to make a loss, which is not from property but from the Project Management Services part of the business. A turn around in this could see the company rated on eps instead of NAV and could benefit the share price. Definitely one to watch. The company is only valued at 3M so small changes could have a big effect on the share price. More View thread 1 Respond Login to Vote up Trade this long or short with an interactive markets spread betting or CFD account.
30-08-11	RNS-Update on Aldgate East Development	SpikeyDT


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DJ Formation Group PLC Update on Aldgate East Development TIDMFRM RNS Number : 2538N Formation Group PLC 30 August 2011 Formation Group plc (the "Company" or "Formation") Update on Aldgate East Property Development The Company is pleased to announce that Julius Properties Limited ("JPL"), a Guernsey registered company that owns the property development above Aldgate East Station, London ("Aldgate"), has entered into a conditional agreement for the disposal of Aldgate to a UK national housebuilder. The conditions of this agreement must be satisfied no later than 22 February 2012 and consideration payable under the disposal agreement is to be split with part payable on completion and part being deferred. The deferred portion of the consideration will all be payable within 30 months after the date of completion. If JPL completes the disposal of Aldgate, the Directors anticipate that the contingent liability relating to Formation's guarantee to assist JPL in repaying Aldgate East Property Company Limited a maximum of GBP11.6 million in respect of capital and interest on loan notes will be extinguished. In addition, if JPL completes the disposal of Aldgate, the Directors also anticipate that JPL will, after receipt of the deferred element of the consideration, be able to substantially repay the loans provided by JV Finance Ventures Limited, the special purpose vehicle set up by Formation and JV Finance Limited in which Formation has a 36.88% equity interest. There is no certainty that the conditions to the disposal agreement will be satisfied and a further announcement will be made to update shareholders in due course. Enquiries: Formation Group Plc: David Kennedy; Chief Executive Officer - 020 7920 7590 NOMAD to Formation Group Plc: Zeus Capital Limited - Ross Andrews / Tom Rowley - 0161 831 1512 This information is provided by RNS The company news service from the London Stock Exchange END MSCSDUFLSFFSELA (END) Dow Jones Newswires 30-08-11 1451GMT More View thread 1 Respond Login to Vote up
01-03-11	No Subject	Thecheggy


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small vol but v.large % increase - that's good enough for me to have a punt - Something must be going on... Only in with £500 for now... Who knows where this will go!? More View thread 1 Respond Login to Vote up New £5 frequent trader rate - trade UK shares, investment trusts and ETFs
01-03-11	Re: Must be due...	dicko80


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07-02-11	Must be due...	dicko80


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29-01-11	Must be due..	dicko80


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another spike soon More View thread 1 Respond Login to Vote up Trade this long or short with an interactive markets spread betting or CFD account.
28-11-10	Re: V little info available!	Talisin


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Drove past last Friday....nothing happening! More View thread 4 Respond Login to Vote up
10-11-10	Digging for information	chrisx30


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Been trawling thorugh AIM listed companies a came across FRM. Have checked out their web site finaincial reports and although they seem to have had a rough time, they are now turning a corner. 1 - Property assets 2 - More focused business plan 3 - No debt (has recently been paid off) 4 - A share price that (in my opinon) seems a fraction of what it should be Also I know the construction and property markets have struggled but as these sectors improve surley this price is a steal!! Or am I missing something very obvious? Does anyone have any views? More View thread 1 Respond Login to Vote up New £5 frequent trader rate - trade UK shares, investment trusts and ETFs
04-11-10	Re: V little info available!	xst


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theres no news anywhere not even a snipit of news involving the jv refinance of aldgate project. time to show something is happening in the background. More View thread 4 Respond Login to Vote up
22-10-10	Re: V little info available!	Talisin


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http://www.estatesgazette.com/blogs/london-residential-research/2009/12/aldgate.html I drive past this building site once a month, in fact drove past last Friday. It's in a fantastic location, on the edge of City of London. I'll take a closer look next time I drive past, now that I hold some shares. More View thread 4 Respond Login to Vote up
22-10-10	V little info available!	Talisin


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http://www.manhireassociates.co.uk/City_East_Aldgate_48.html http://www.insidermedia.com/insider/north-west/7251-formation-reaches-settlement-over-aldgate-scheme/ More View thread 4 Respond Login to Vote up Trade this long or short with an interactive markets spread betting or CFD account.
21-10-10	up over 104%	xst


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this baby will keep going till traffic lights at liverpool st More View thread 1 Respond Login to Vote up
21-10-10	Re: News	ta222


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Yep, More View thread 4 Respond Login to Vote up New £5 frequent trader rate - trade UK shares, investment trusts and ETFs
21-10-10	Re: News	xst


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only 700,000 buys and price to buy 1.9. This will fly on news. More View thread 4 Respond Login to Vote up
21-10-10	Re: News	xst


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i think it has to be news on Aldgate, i expect announcement on works re starting any day 4p then and 7 or 8 on release. More View thread 4 Respond Login to Vote up
20-10-10	Buy News	ta222


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News over the last two days = new director so not going bust or de listing, plus loan paid back so, some cash has been delivered. Just the type of stock i like More View thread 4 Respond Login to Vote up Trade this long or short with an interactive markets spread betting or CFD account.
16-12-09	Re: Thinking aloud	RILEYBATES


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It could have been that they just wanted to protect the investment that they have already made. If a deal with the Heritable administrators wasn't forthcoming then I presume they would have owned the Aldgate development. In this case, Formation would have still been liable for the loan notes and therefore would not only not make profit from the development but would be liable for a further 11.6m. Now this would have been a worrying development for all shareholders because the likelyhood of going bust would have been increased. I suppose in a way i am agreeing with you, but I still don't think that they would have taken this action without thinking the the finance needed would be secured. They also have just completed the whitechapel development so should be seeing some profit from there. Difficult to say how much but could be enough to make the banks feel confident about the loan. Don't forget as well, that although they sold off the profitable divisions , most of the revenue comes from the property side of the business. More View thread 7 Respond Login to Vote up
15-12-09	Re: Thinking aloud	Krayl


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The year-end was Aug 31st and their website says the results should be published in November (last year they were published on 19th Nov). As the company is now property-only I want to see a standard set of accounts with a NAV etc. However this may not be the most important factor as there are two likely options - they get their 55m loan to continue development and the price shoots up before we get a chance to get in, or they go bust! They were clearly worried about going bust when they hived off all the profit making parts of the business to the directors. Think I will wait and see before buying - and keep a careful look out for news and share sells/buys. There is usually a leak if a loan gets approved. More View thread 7 Respond Login to Vote up New £5 frequent trader rate - trade UK shares, investment trusts and ETFs
15-12-09	Re: Thinking aloud	RILEYBATES


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Krayl, The loan notes are specified under the background section of the RNS. I suppose though that this hasn't been clarified whether this has changed or not. It does say however that the maximum liability of 11.6 million has been previously disclosed as a contingent liability in the financial accounts. Under the terms of the loan notes they only have to be repaid by Formation (11.6m) if the project has not been completed by 28/08/11. A little confusing though as you would expect them to have to pay them back by that date whether the project is complete or not. I understand that the 5.5mill paid to the administrators of heritable being a substantial saving on the amount that was initially borrowed, in fact only a third, so the outlay from Formation could be minimal when compared to the potential profit that will be re-couped. My stance on this company remains a weak buy, the reason being like you say as it is still a risk but it is far less a risk than it was a week ago and with the share price at practically an all time low it may be a good time to get in and wait and see. I wouldn't risk my life savings on this, but if I had some spare cash i'd have a punt More View thread 7 Respond Login to Vote up
14-12-09	Re: Thinking aloud	Krayl


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It's still highly complicated and I don't pretend to understand it all, but this news does seem to be positive. The main liability has been quantified and has been paid off with 5.5million. This also gives access to 50% of any profit on Aldgate. The 'loan notes' are not specified in the announcement and so could be anything (I read this as being separate from the 11 mill). They don't seem too worried by them but who is to say? To complete the project they need 55 million, which again they don't seem to be worried about, though there is no mention of how it will be raised. I don't suppose the shareholders could be tapped for that much so presumably it's a bank loan. As I have said before this could be a great investment if it all comes off. It is certainly one to watch and deserves further study, but doesn't seem to be a buy yet. More View thread 7 Respond Login to Vote up
14-12-09	Buy Re: Thinking aloud	RILEYBATES


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If I am reading the latest RNS correctly the 11.6mill liability only comes into effect if the construction is not completed before the 28th August 2011 and the loan notes have to be re-paid. That is Formations maximum liability. Apart from that, with the new Joint Venture being set up and Formation's profit margin in the Aldgate development now being 50% things are looking a little brighter for this company to make a full recovery. More View thread 7 Respond Login to Vote up Trade this long or short with an interactive markets spread betting or CFD account.
17-09-09	Re: Thinking aloud	CCCCC2


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Nice someone else is keeping an eye on FRM. Any ideas when a decision on the liability will be made? More View thread 7 Respond Login to Vote up
17-09-09	Thinking aloud	Krayl	1


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After the disposal of the subsiduaries FRM has no debts and cash of £8m, or 4p per share. This is enough to capitalise their plans for the next 12 months. The fly in the ointment is the contingency of up to £11.6m (5.7p per share) if they have to cough up to the Heritable administrators for the Aldgate development. The document states that the 'Company remains hopeful that a satisfactory resolution will be found.' It is apparent that they sold off the profit-making subs to keep them away from the potential liability. They also bought back the directors' shares at a price of only 3.1p. So buying this at the moment would be a big gamble, but it is worth watching to see if the contingency gets sorted out as this could suddenly take off. One to set an alert on. More View thread 7 Respond Login to Vote up New £5 frequent trader rate - trade UK shares, investment trusts and ETFs
04-06-09	Re: buyout is this week!!	CCCCC2


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Source? More View thread 2 Respond Login to Vote up
01-06-09	Buy buyout is this week!!	BarcShares


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a reliable source tells me that the planned equity buyout is happening this week. bought in at 9p average so if they sell for the minimum £25m it means a 11.3p payout. Nice little profit. More View thread 2 Respond Login to Vote up
07-05-09	Anyone watching this?	Fruit Batman


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Thought that I'd swoop in for a quick look at this group - can anyone offer an update?. Just looked at their Interim statement for last year and they have Rio Ferdinand pictured 3 or 4 times in the document. Looks like they are pretty starstruck and heavily reliant on a couple of 'Yernarted' superstars. Any thoughts?. More View thread 1 Respond Login to Vote up Trade this long or short with an interactive markets spread betting or CFD account.
02-03-08	Re: From todays Sunday Times	aaronseasearch


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Or even 'stealing' twas an oops More View thread 2 Respond Login to Vote up
02-03-08	From todays Sunday Times	aaronseasearch


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Rooney team to sign Ant and DecMatthew Goodman THE management agency that looks after television stars including Ant and Dec and Simon Cowell is about to join forces with the company that represents Wayne Rooney. The Manchester United striker’s agency, Formation Group, which has been expanding beyond its football roots into accountancy and property, is understood to be close to acquiring James Grant Media, whose clients also include Piers Morgan and Fearne Cotton, in a deal estimated to be worth between £25m and £30m. Under the terms of the sale, Formation is thought to be paying an initial £10m in cash and shares, with the balance to follow depending on James Grant meeting certain performance targets over the next three years. Peter Powell, the former Radio One disc jockey, and his business partner Russ Lindsay set up James Grant in 1984. They were later joined by Darren Worsley and Paul Worsley (who are not related). The four own equal stakes in the business and speak for the majority of the shares. The purchase marks the third significant acquisition by Formation, which is led by chief executive Neil Rodford, in the past year. Last June it bought Columbia Design & Build, a property investment business, and in August it took over OJ Kilkenny, an accountancy firm known for advising leading musicians such as Bjork and Oasis. Formation also owns Kingsbridge, a wealth-management group. James Grant had been looking to bring in a strategic investor over the past few months. Speculation has previously centred on ITV being interested in buying the agency. Shares in Cheshire-based Formation closed at 18¾p on Friday, giving the companya market value of £38.2m. I hope they dont mind me steeling this C * More View thread 2 Respond Login to Vote up New £5 frequent trader rate - trade UK shares, investment trusts and ETFs
05-02-08	Re: Recent moves	wsspr


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Investors Chronicle put a sell rec on this a few weeks ago, and since then the sp has recovered. I have a feeling that the property assets the group now has interests in are yet to be factored into the sp, and it is therefore due a rerating at some point - probably when the commercial property sector is a bit more stable. Remains a strong long term buy imho More View thread 2 Respond Login to Vote up
04-02-08	Buy Recent moves	Profitcruncher


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There was a surge inprice last week. No news to accompany it. I think there will be an update soon and I'm sure it will be encouraging. It's been very quiet but I think there will some news to make this interesting to those outside the present circle. More View thread 2 Respond Login to Vote up
22-06-07	Newsflow	wsspr


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News flow seems to be coming thick and fast at the moment - any views? More View thread 1 Respond Login to Vote up Trade this long or short with an interactive markets spread betting or CFD account.
29-05-07	Re: FRM is back	wsspr


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I think its excellent news, for the following reasons: 1. Increases mkt cap of business and hopefully makes it more attractive to investors 2. Broadens strategy of business, with some impressive partners in specialist areas 3. The business is still relatively cash rich after this deal, and will no doubt be on the acquisition trail I can only assume this is a solid foundation for future growth in sp - imho More View thread 2 Respond Login to Vote up
29-05-07	FRM is back	Profitcruncher


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A good response to the return of FRM. I'm not too sure of what to make of the news this morning. I'll wait for the experts in the papers tomorrow. Do any of you holders have a view? More View thread 2 Respond Login to Vote up New £5 frequent trader rate - trade UK shares, investment trusts and ETFs
11-05-07	Re: Getting restless	Profitcruncher


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If th e news leaked too early, I would expect there to be a upward surge when this returns. Obviously I'm assuming that the deal does not disadvantage us shareholders. The problem is that we are in the dark and the last three months there has hardly been any concrete news. More View thread 4 Respond Login to Vote up
11-05-07	Re: Getting restless	aaronseasearch


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'Mylands', posts on ADV the most likely reason for the delay. Basically the Co was forced by the SP rise to declare they're involved in talks,whatever, with another company. It appears 'the news leaked too early'. More View thread 4 Respond Login to Vote up
10-05-07	Re: Getting restless	wsspr


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What do you think the likely scenario is when this does come back onto market? what would you like/expect to see? More View thread 4 Respond Login to Vote up Trade this long or short with an interactive markets spread betting or CFD account.
10-05-07	Getting restless	Profitcruncher


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Is anyone else getting a bit restless? I hope it's a case of no news being good news. Any ideas how much longer we have to wait for completion of this deal. I would like to get at my money. More View thread 4 Respond Login to Vote up
04-04-07	Update on FRM situation	Seaninog


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I spoke to the brokers for FRM, WH Ireland. They tell me that the "reverse takeover" is indeed FRM trying to take over someone much bigger than themselves. Also, while these things are hard to predict in terms of timing, the chap I spoke to indicated that he felt it would take no more than 12 weeks to resolve the issue and (I assume then) relist the shares. He also referred to the price action before the shares were suspended and indicated (or rather I inferred) that it was due to certain parties having advance knowledge of the transaction. I'm gleaning from this that whatever is happening will be positve for the shareholders. Ultimately, time will tell. More View thread 1 Respond Login to Vote up New £5 frequent trader rate - trade UK shares, investment trusts and ETFs
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