Director's Shareholding & Ordinary Shares in Issue

RNS Number : 6941Y

First Property Group PLC

29 January 2014

 

Date:	29 January 2014
On behalf of:	First Property Group plc ("First Property", "the Company" or the "Group")
Embargoed:	0700hrs

First Property Group plc

Director's Shareholding and Ordinary Shares in Issue

The Board of First Property Group plc (AIM:FPO), the commercial property fund management group, announces that it has sold from Treasury 22,133 Ordinary Shares of one pence each in the Company ("Ordinary Shares") to Mr Peter Moon, a non-executive Director, in satisfaction of part of his emoluments for the six months ended 31 October 2013.

Under the terms of his appointment letter Mr Moon is due to receive 40% of his emoluments (£11,000 annually) in Ordinary Shares based on the average closing price of the Company's Ordinary Shares for the five day period following the announcement of the half year and annual results. In this case the average closing mid-price per Ordinary Share for the five business days between 27 November 2013 and 4 December 2013 following the interim results was 24.85 pence. A similar announcement is expected in September 2014 following the publication of the Group's Annual Report.

As a result of this allotment of shares, Mr Moon's shareholding in the Company is 331,631 Ordinary Shares (0.29% of the enlarged issued Ordinary Share capital).

Following the sale from Treasury, the Company has in issue 111,202,158 Ordinary Shares. The figure of 111,202,158 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 FCA's Disclosure and Transparency Rules. 3,648,957 Ordinary Shares remain in Treasury.

-Ends-

For further information please contact:

First Property Group plc	Tel: [phone]
Ben Habib (Chief Executive & Chief Investment Officer)
Jeremy Barkes (Director, Business Development)	[e-mail]
Arden Partners	Tel: [phone]
Chris Hardie (Director, Corporate Finance)
Redleaf Polhill	Tel: [phone]
George Parrett / Henry Columbine	[e-mail]

Notes to investors and editors:

First Property Group plc is a direct property fund manager with operations in the United Kingdom and Central Europe. Its business model is to:

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

·      Co-invest in these funds and thereby earn a return on its own capital invested; and

·      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.

The investment performance of its funds under management in Poland and in Central Europe ranked No.1 versus the Investment Property Databank (IPD) universe for Central & Eastern Europe (CEE) over the seven years to 31 December 2012, having previously been ranked No.1 versus the IPD CEE universe over the three, four, five and six years to 31 December 2008, 2009, 2010 & 2011 respectively.

First Property Asset Management Limited is authorised and regulated by the Financial Conduct Authority. Further information about the Company and its products can be found at: www.fprop.com.

 

END

 

 

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