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")
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.
For further information please contact:
First Property Group plc Tel: 020 7340 0270
Ben Habib (Chief Executive & Chief www.fprop.com
Jeremy Barkes (Director, Business [email protected]
Arden Partners Tel: 020 7614 5900
Chris Hardie (Director Corporate
Redleaf Polhill Tel: 020 7566 6750
Mike Ward [email protected]
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.
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