Director/PDMR Shareholding (4348W)
January 31 2012 - 2:01AM
UK Regulatory
TIDMFPO
RNS Number : 4348W
First Property Group PLC
31 January 2012
Date: 31 January 2012
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 it has sold from
Treasury 28,769 Ordinary Shares of 1 pence each in the Company
("Ordinary Shares") to Peter Moon, a non-executive Director, in
satisfaction of part of his emoluments for the six months ended 31
October 2011.
Under the terms of his appointment letter Peter Moon is due to
receive 40% of his emoluments (GBP10,000 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 8 and 14 December
following the announcement of the 2011 half year results was 17.38
pence. A similar announcement is expected in June 2012 following
the year end results announcement.
As a result of this acquisition, Peter Moon's shareholding in
FPO is 228,053 Ordinary Shares (0.20% of the now enlarged issued
ordinary share capital).
Following the sale from Treasury, FPO has in issue 111,098,580
Ordinary Shares. The figure of 111,098,580 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. 3,752,535 Ordinary
Shares remain in Treasury.
-Ends-
For further information please contact:
First Property Group plc Tel: 020 7340 0270
Ben Habib (Chief Executive & Chief www.fprop.com
Investment Officer)
Jeremy Barkes (Director, Business investor.relations@fprop.com
Development)
Arden Partners Tel: 020 7614 5900
Chris Hardie (Director Corporate
Finance )
Redleaf Polhill Tel: 020 7566 6750
Mike Ward firstproperty@redleafpolhill.com
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) Benchmarks for Central &
Eastern Europe (CEE) and for Poland for the five year period to 31
December 2010.
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.
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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