Exercise of Options and Total Voting Rights

RNS Number : 2449C

First Property Group PLC

13 March 2014

 

Date:	13 March 2014
On behalf of:	First Property Group plc ("First Property", "the Company" or the "Group")
Embargoed:	Immediate release

First Property Group plc

Exercise of Options and Total Voting Rights

First Property Group plc (AIM: FPO), the property fund management group, was notified on 12 March 2014 that Messrs Ben Habib, Group Chief Executive and George Digby, Group Finance Director, have respectively exercised 750,000 and 500,000 options over Ordinary shares, granted pursuant to the First Property Group Share Option Scheme, at an exercise price of 16.5p pence per Ordinary share. In addition Mr Martin Pryce, a director of First Property Asset Management Ltd, exercised 500,000 options over Ordinary shares, also granted pursuant to the First Property Group share option scheme, at an exercise price of 16.5p per Ordinary share.

The Ordinary shares required to satisfy the exercise of these options were released by the Company from its holding of 3,671,090 Ordinary shares in treasury.

Messrs Habib and Pryce have sold the Ordinary shares acquired by them following the exercise of their options at a price of 28.5p per Ordinary share. Mr Digby has sold 380,000 Ordinary shares also at a price of 28.5p per Ordinary share.

Following these transactions, Mr. Habib's total shareholding in the Company remains unchanged at 16,700,000 Ordinary shares. Mr. Digby's total shareholding in the Company has increased from 150,000 to 270,000 Ordinary shares. 

Following the disposal of 1,750,000 Ordinary shares previously held in treasury, First Property Group plc's issued Ordinary share capital remains 114,851,115 Ordinary shares, of which 1,898,957 Ordinary shares are held in treasury, leaving a balance of 112,952,158 Ordinary shares with voting rights. The total number of share options outstanding pursuant to the First Property Group Share Option Scheme has reduced to 5,750,000.

The figure of 112,952,158 Ordinary shares should be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest, or a change in their interest, in the Ordinary share capital of First Property Group plc under the Financial Conduct Authority's Disclosure and Transparency rules.

-Ends-

For further information please contact:

First Property Group plc	Tel: [phone]
Ben Habib (Chief Executive & Chief Investment Officer)	www.fprop.com
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 commercial property fund manager with operations in the United Kingdom and Central Europe. Its business model is to:

·     Raise third party funds to invest in commercial property;

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

·     Earn fees from the management of these funds. Fees earned are typically 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 is ranked No.1 versus the Investment Property Databank (IPD) universe for Central & Eastern Europe (CEE) for 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.

 

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