Purchase of own shares into treasury

RNS Number : 4375U

First Property Group PLC

25 November 2019

 

Date:	25 November 2019
On behalf of:	First Property Group plc ("First Property", "the Company" or the "Group")
Embargoed:	Immediate release

First Property Group plc

Purchase of own shares into treasury

First Property Group plc (AIM: FPO), the property fund manager and investor, announces that on 22 November 2019 it purchased into Treasury 500,000 of its Ordinary shares of 1 pence each at a price of 40.5 pence each on the market. This represents a 32% discount to the Group's adjusted net assets of 59.65 pence per share as at 30 September 2019.

Following this purchase First Property has 110,366,636 Ordinary shares in issue. Shareholders may use this figure as the denominator to calculate if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules. 6,234,479 Ordinary shares are held in treasury.

-Ends-

For further information please contact:

First Property Group plc	Tel: [phone]
Ben Habib (Chief Executive & Chief Investment Officer) George Digby (Group Finance Director)	www.fprop.com
Jeremy Barkes (Director, Business Development)
Arden Partners (NOMAD & Broker)	Tel: [phone]
John Llewellyn-Lloyd / Benjamin Cryer
Newgate Communications (PR)	Tel:[phone]
Robin Tozer / Tom Carnegie	[e-mail]

Notes to investors and editors:

First Property Group plc is an award-winning property fund manager and investor with operations in the United Kingdom and Central Europe.

Its focus is on higher yielding commercial property with sustainable cash flows. The company is flexible and takes an active approach to asset management. Its earnings are derived from:

·        Fund management - via its FCA regulated and AIFMD approved subsidiary, First Property Asset Management Ltd (FPAM), which earns fees from investing for third parties in property. FPAM currently manages thirteen funds which are invested across the United Kingdom, Poland and Romania.

·        Group Properties - principal investments by the Group, to earn a return on its own capital, usually in partnership with third parties. Investments comprise nine wholly owned properties in Poland and Romania and non-controlling interests in ten of the thirteen funds managed by FPAM.

Listed on AIM the Company has offices in London, Warsaw and Bucharest. Around one third of the shares in the Company are owned by management and their families. Further information about the Company and its products can be found at: www.fprop.com.

 

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