Director/PDMR Shareholding

RNS Number : 0362N

First Property Group PLC

25 August 2011

 



Date:	25 August 2011
On behalf of:	First Property Group plc ("First Property" or the "Group")
Immediate release

First Property Group plc ("FPO" or the "Company")

Director's Shareholding and Ordinary Shares in Issue

The Board of First Property Group plc (AIM:FPO), the AIM-listed commercial property fund management group, announces that it has sold from Treasury 23,310 Ordinary Shares of 1 pence each in the Company ("Ordinary Shares") to Peter Moon, a non-executive Director, in satisfaction of part of his emoluments for the six months ended 30 April 2011.

Under the terms of his appointment letter Peter Moon is due to receive 40% of his emoluments (£10,000 is the relevant annual value) in Ordinary Shares based on the average closing price of FPO Ordinary Shares for the five day period following the announcement of interim and annual results. In this case the average of closing prices on the five business days between 22 and 28 June following the announcement of the 2011 year end results was 21.45 pence. A similar announcement is likely in December 2011 following the interim results announcement.

As a result of this acquisition, Peter Moon's shareholding in FPO is 199,284 Ordinary Shares (0.18% of the now enlarged issued ordinary share capital).

Following the sale from Treasury, FPO has in issue 111,069,811 Ordinary Shares. The figure of 111,069,811 Ordinary Shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules. 3,781,304 Ordinary Shares remain in Treasury.

-Ends-

For further information please contact:

First Property Group plc	Tel: [phone]
Ben Habib (Chief Executive)	www.fprop.com
Jeremy Barkes (Director, FJB Capital Advisers)	[e-mail]
Arden Partners	Tel: [phone]
Chris Hardie (Director Corporate Finance )
Redleaf Polhill	Tel: [phone]
Mike Ward	[e-mail]

Notes to investors and editors:

First Property Group plc is a commercial property fund manager with operations in the United Kingdom and Central Europe. The performance of its funds under management ranked No.1 versus the Investment Property Databank (IPD) Benchmarks for Central & Eastern Europe (CEE) and for Poland for the five year period to 31 December 2010.

The business model of First Property Group is to:

·      Raise third party funds to invest in income producing commercial property;

·      Co-invest in these funds;

·      Earn fees for the management of these funds. Fees earned are a function of the value of assets under management as well as the performance of the funds;

·      Earn a return on its own capital invested in these funds.

Further information about the Company and its products can be found at: www.fprop.com.

 

END

 

 

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