Director's Shareholding & Ordinary Shares in Issue

RNS Number : 7159V

First Property Group PLC

16 January 2013

 



Date:	16 January 2013
On behalf of:	First Property Group plc ("First Property" , "the Company" or the "Group")
Immediate release

First Property Group plc

Director's Shareholding & 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 25,808 Ordinary Shares of 1 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 2012.

Under the terms of his appointment letter Peter Moon is due to receive 40% of his emoluments (£10,000 is the relevant annual value) in Ordinary Shares based on the average closing price of FPO Ordinary Shares for the five day period following the announcement of half year and annual results. In this case the average of closing prices on the five business days between 6 and 12 December 2012 following the interim results was 19.37 pence. A similar announcement is expected in July 2013 following the annual results announcement.

As a result of this acquisition, Mr Peter Moon's shareholding in FPO is 283,228 Ordinary Shares (0.25% of the now enlarged issued ordinary share capital).

Following the sale from Treasury, FPO has in issue 111,153,755 Ordinary Shares. The figure of 111,153,755 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. 3,697,360 Ordinary Shares remain in Treasury.

-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. The performance of its funds under management ranked No.1 versus the Investment Property Databank (IPD) Central & Eastern Europe (CEE) Benchmark over the three, four, five and six years to 31 December 2008, 2009, 2010 and 2011.

·     The business model of First Property Group is to:

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

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

o  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.

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

 

END

 

 

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