Change of FTSE ICB

RNS Number : 3624U

First Property Group PLC

21 December 2011

 



Date:                       21 December 2011

On behalf of:            First Property Group plc ("First Property", the "Company" or the "Group")

Embargoed for:         0700hrs

First Property Group plc

Change of FTSE Industry Classification Benchmark

First Property Group plc (AIM: FPO), the commercial property fund management group, is pleased to announce that, at the December quarterly review of the FTSE Industry Classification Benchmark (ICB), the Company's classification was changed from sub-sector Real Estate Services (8637) to sub-sector Asset Managers (8771). This change in classification follows the disposal of the Company's 60% interest in First Property Services Ltd, a mechanical and electrical (M&E) contractor, earlier this year and the resulting proportionate increase in the Group's earnings arising from the Company's main operating business, commercial property fund management.

-Ends-

For further information please contact:

First Property Group plc	Tel: [phone]
Ben Habib (Chief Executive)	www.fprop.com
Jeremy Barkes (Director, Business Development)	[e-mail]
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

 

 

NRAPGGAGPUPGGQU