Formation Group Plc - Investment in Proton Partners International Limited PR Newswire

('Formation' or the 'Company')

Investment in Proton Partners International Limited

Formation notes the commencement of trading today in the ordinary shares of £0.001 each in PPI (the ‘PPI Shares’) on the NEX Exchange Growth Market.

Formation is interested in 4,347,826 PPI Shares, which the Company acquired in March 2018 at a price of 115p per PPI Share for a total cash consideration of £5.0 million.

Based on today’s admission price of 225p per PPI Share, Formation’s interest in PPI is valued at approximately £9.78 million.

The directors of the Company accept responsibility for the contents of this announcement.



Formation Group plc                            Tel: +44 (0) 20 7920 7590
David Kennedy, Chief Executive Officer

Peterhouse Capital Limited (Corporate Adviser) Tel: +44 (0) 20 7469 0930
Mark Anwyl and Fungai Ndoro