22nd Aug 2007 15:16
Formation Group PLC22 August 2007 Formation Group PLC ("Formation" or the "Company") Columbia Design & Build Limited - Up-date On 21 June 2007, Formation completed the acquisition of Columbia Design & BuildLimited ("Columbia"), a property development management business, details ofwhich are set out in the admission document issued by the Company dated 29 May2007 (the "Admission Document"). The Admission Document sets out the terms of Columbia's four key potentialcontracts which, at the time of the acquisition by Formation, were still subjectto the finalisation of legal and commercial terms. The status of the contractbetween Columbia and Davitt Road Limited, for the development of Davitt Road, isunchanged from that set out in the Admission Document. Formation can now provide the following update on the other three contracts: (i) the contract for 52-58 Commercial Road, London was thesubject of a letter of intent at the time of the acquisition by Formation andthe formal contact for this property has since been executed by both Columbiaand Rocquefort Properties Limited; (ii) the contract between Columbia and Julius Properties Limitedfor 1 Commerical Street/111-120 Whitechapel High Street, London E1 (known as theAldgate East contract) was executed on 21st August 2007; and (iii) the contract between Columbia and Clancy Quay PropertiesLimited for Clancy Quay, Dublin was executed on 21st August 2007. For more information please contact: Mike Wallwork, Formation Group PLC Tel: 0161 980 1210David Youngman, WH Ireland Limited Tel: 0161 832 2174 Formation Group's website can be accessed at: www.formationgroupplc.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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