Director's Shareholding

RNS Number : 8898N

First Property Group PLC

04 October 2012

 



Date:	4 October 2012
On behalf of:	First Property Group plc ("First Property", "the Company" or the "Group")
Embargo:	0700hrs

First Property Group plc

Director's Shareholding and 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 29,367 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 30 April 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 12 and 18 June 2012 following the announcement of the 2012 annual results was 17.03 pence. A similar announcement is expected in January 2013 following the half year results announcement.

As a result of this acquisition, Mr Peter Moon's shareholding in FPO is 257,420 Ordinary Shares (0.23% of the now enlarged issued ordinary share capital).

Following the sale from Treasury, FPO has in issue 111,127,947 Ordinary Shares. The figure of 111,127,947 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. 3,723,168 Ordinary Shares remain in Treasury.

-Ends-

For further information please contact:

First Property Group plc	Tel: [phone]
Ben Habib (Group Chief Executive & FPAM 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	[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 Group's investment performance is ranked No.1 versus Investment Property Databank's (IPD) CEE universe 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:

·      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.

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.

 

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