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RNS Number : 1273K

First Property Group PLC

19 September 2016

 
 Date:        19 September 2016 
 On behalf    First Property Group plc ("First 
  of:          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) announces that the Company has issued from Treasury 12,929 Ordinary Shares of one pence each in the Company to Mr Peter Moon, a non-executive Director, in satisfaction of part of his emoluments for the six months ended 30 April 2016.

Under the terms of his appointment Mr Moon receives 40% of his emoluments (GBP11,000 was the relevant annual value to 31 March 2016, GBP12,000 from 1 April 2016), 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 10 June 2016 and 16 June 2016 was 43.185 pence. A similar announcement is expected in January 2017 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 409,513 Ordinary Shares, which equates to 0.35% of the enlarged issued Ordinary Share capital.

Following the sale from Treasury, the Company has in issue 115,980,040 Ordinary Shares.

The figure of 115,980,040 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. 621,075 Ordinary Shares remain in Treasury.

-Ends-

For further information please contact:

 
 First Property Group plc            Tel: +44 (20) 
                                      7340 0270 
 Ben Habib (Chief Executive          www.fprop.com 
  Officer)                            investor.relations@fprop.com 
  George Digby (Group Finance 
  Director) 
  Jeremy Barkes (Director, 
  Business Development) 
 
 Arden Partners (NOMAD & Broker)     Tel: + 44 (20) 
                                      7614 5900 
 Chris Hardie (Director, Corporate 
  Finance) 
  Ben Cryer (Corporate Finance) 
 
 Redleaf Communications (PR)         Tel:+ 44 (20) 
                                      7382 4734 
 Rebecca Sanders-Hewett /            firstproperty@redleafpr.com 
  Henry Columbine / Susie Hudson 
 

Notes to Investors and Editors:

First Property Group plc is a property fund manager and investor with operations in the United Kingdom and Central Europe. 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:

o Management fees are levied by reference to the value of properties under management;

o Performance fees are levied where appropriate, usually payable upon realisation of profits above an agreed hurdle.

-- Group Properties - principal investments by the Group, to earn a return on its own capital, usually in partnership with third parties.

FPAM funds rank No.1 versus MSCI's Investment Property Databank (IPD) Central & Eastern Europe (CEE) Benchmark for the ten years from the commencement of its operations in Poland in 2005 to 31 December 2015, and for the annualised periods from 2005 to the end of each of the years between 31 December 2008 and 31 December 2015.

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.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 19, 2016 02:01 ET (06:01 GMT)

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