Further extension to development loan facility

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Further to the announcement of 20 June 2016 regarding the extension of the loan facility relating to the development at 159-161 Iverson Road, London NW6, the Company announces that the lender has agreed to a further extension until 10 November 2016.

The amount outstanding is currently at c.£2,404,908 (reduced from £3.9m at 20 June) and there are a further four units under offer (with £3,645,000 gross value) at present which when completed will discharge the balance of the facility.

Enquiries

Formation Group plc

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

Northland Capital Partners Ltd (Nomad)

Tel: +44 (0) 20 3861 6625
Tom Price

Peterhouse Corporate Finance Limited (Broker)

Tel: +44 (0) 20 7469 0930
Duncan Vasey / Fungai Ndoro

Yellow Jersey PR Limited (Media Relations)

Tel: +44 (0) 7825 916 715 / +44 (0) 7768 537 739
Dominic Barretto / Alistair de Kare-Silver