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

FORMATION GROUP PLC
('Formation' or the 'Company')

Investment in Proton Partners International Limited
(‘PPI’)

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.

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Enquiries:


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