Director's Shareholding & Ordinary Shares in Issue

RNS Number : 3732N

First Property Group PLC

29 January 2016

 

Date:	29 January  2016
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) announces that the Company has issued from Treasury 11,199 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 2015.

Under the terms of his appointment Mr Moon is due to receive 40% of his emoluments, equating to £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 2015 and 3 December 2015, following the Company's interim results, was 49.12 pence. A similar announcement is expected in October 2016 following the publication of the Group's annual results.

As a result of this allotment of shares, Mr Moon's shareholding in the Company is 396,584 Ordinary Shares, which equates to 0.35% of the enlarged issued Ordinary Share capital.

Following the sale from Treasury, the Company has in issue 114,217,111 Ordinary Shares. The figure of 114,217,111 Ordinary Shares may be used by shareholders as the denominator for calculations by which to 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. 634,004 Ordinary Shares remain in Treasury.

-Ends-

For further information please contact:

First Property Group plc	Tel: [phone]
Ben Habib (Chief Executive Officer) George Digby (Group Finance Director) Jeremy Barkes (Director, Business Development)	www.fprop.com [e-mail]
Arden Partners (NOMAD & Broker)	Tel: + 44 (20) 7614 5900
Chris Hardie (Director, Corporate Finance) Benjamin Cryer (Corporate Finance)
Redleaf Polhill (PR)	Tel:+ 44 (20) 7382 4734
Henry Columbine / Susie Hudson	[e-mail]

Notes to investors and editors:

First Property Group plc is a property fund manager and investor with operations in the United Kingdom and Central Europe. Its earnings are derived from:

·     Fund management - via its FCA regulated and AIFMD approved subsidiary, First Property Asset Management Ltd (FPAM), which earns fees from investing for third parties in property:

o  Management fees are levied by reference to the value of properties under management;

o  Performance fees are levied where appropriate, usually payable upon realisation of profits above an agreed hurdle.

·     Group Properties - principal investments by the Group, to earn a return on its own capital, usually in partnership with third parties.

FPAM funds have ranked No.1 versus the Investment Property Databank (IPD) Central & Eastern Europe (CEE) universe for the annualised periods from the commencement of its operations in Poland in 2005 to the end of each of the years between 31 December 2008 and 31 December 2014.

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.

 

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