Director's Shareholding

RNS Number : 9707R

First Property Group PLC

18 September 2014

 

Date:	18 September 2014
On behalf of:	First Property Group plc ("First Property", "the Company" or the "Group")
Embargoed:	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 the Company has issued from Treasury 17,202 Ordinary Shares of one 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 2014.

Under the terms of his appointment Mr Moon is due to receive 40% of his emoluments, equating to £11,000 annually, in Ordinary Shares based on the average closing price of the Company's Ordinary Shares for the five day period following the announcement of the half year and annual results. In this case the average closing mid-price per Ordinary Share for the five business days between 5 June 2014 and 11 June 2014, following the Company's Preliminary results, was 31.97 pence. A similar announcement is expected in January 2015 following the publication of the Group's Interim Results.

As a result of this allotment of shares, Mr Moon's shareholding in the Company is 348,833 Ordinary Shares, which equates to 0.31% of the enlarged issued Ordinary Share capital.

Following the sale from Treasury, the Company has in issue 112,969,360 Ordinary Shares. The figure of 112,969,360 Ordinary Shares may be used by shareholders as the denominator for calculations by which to determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules. 1,881,755 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
George Digby (Group Finance Director) Jeremy Barkes (Director, Business Development)	[e-mail]
Arden Partners	Tel: [phone]
Chris Hardie (Director, Corporate Finance) Katelin Kennish (Corporate Finance)
Redleaf Polhill	Tel: [phone]
George Parrett / Henry Columbine	[e-mail]

Notes to investors and editors:

First Property Group plc is a direct property fund manager with operations in the United Kingdom and Central Europe. Its business model is to:

·      Raise third party funds to invest in income producing 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 ranked No.1 versus the Investment Property Databank (IPD) universe for Central & Eastern Europe (CEE) over the eight years to 31 December 2013, having previously ranked No.1 versus the IPD CEE universe over the three, four, five, six and seven years to 31 December 2008, 2009, 2010, 2011 & 2012 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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