Exercise of Options

RNS Number : 5335B

First Property Group PLC

21 February 2011

 



Date	21 February 2011
On behalf of	First Property Group plc ("First Property" or the "Group")
Embargoed	Immediate Release

First Property Group plc

Exercise of Options

The Board of First Property Group plc (AIM: FPO) announces that the Company was notified on 18 February 2011 that an employee of First Property has exercised options to subscribe for 1,000,000 Ordinary Shares in the Company of 1p each ("Ordinary Shares").  The option exercise price was 3.5 pence per share in respect of 500,000 Ordinary Shares and 6.25 pence per share in respect of 500,000 Ordinary Shares.

Application will shortly be made for the 1,000,000 Ordinary Shares to be admitted to AIM, with trading expected to commence on or around 24 February 2011 ("Admission"). Upon Admission, these shares will rank pari passu in all respects with the existing Ordinary Shares of the Company.

Following these transactions, First Property has in issue (excluding the total of 3,804,614 ordinary shares now held in treasury) 110,796,501 Ordinary Shares.  The figure of 110,796,501 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.

-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)
Arden Partners	Tel: [phone]
Chris Hardie (Director Corporate Finance)
Redleaf Polhill	Tel: [phone]
Alicia Jennings / 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 IPD benchmarks for CEE and Poland for the 4 year period to 31 December 2009.

·     The business model of First Property Group is:

o  To raise third party funds to invest in income producing commercial property;

o  To co-invest in these funds;

o  To 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;

o  To earn a return on its own capital invested in these funds.

·     It also has a 60% shareholding in a mechanical & electrical (M&E) installation and maintenance contractor, First Property Services Limited.

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

 

END

 

 

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