First Property Group PLC Director's Shareholding & Ordinary Shares in Issue (2141E)

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RNS Number : 2141E

First Property Group PLC

06 February 2015

 
 Date:        6 February 2015 
 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 23,181 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 31 October 2014.

Under the terms of his appointment Mr Moon is due to receive 40% of his emoluments, equating to GBP11,000 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 26 November 2014 and 2 December 2014, following the Company's Interim results, was 31.8 pence. This payment also includes the payment of an additional 5,885 shares in recognition of missed dividend payments arising from the time lag between the measurement period and the issue date of the new shares, dating back to the commencement of Mr Moon's appointment in 2010. A similar announcement is expected in September 2015 following the publication of the Group's Final Results.

As a result of this allotment of shares, Mr Moon's shareholding in the Company is 372,014 Ordinary Shares, which equates to 0.33% of the enlarged issued Ordinary Share capital.

Following the sale from Treasury, the Company has in issue 113,792,541 Ordinary Shares. The figure of 113,792,541 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. 1,058,574 Ordinary Shares remain 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) 
 Jeremy Barkes (Director, Business   [e-mail] 
  Development) 
 
 Arden Partners                      Tel: [phone] 
 Chris Hardie (Director, Corporate 
  Finance) 
 Michael McNeilly (Corporate 
  Finance) 
 
 Redleaf Polhill                     Tel: [phone] 
 George Parrett / Henry Columbine    [e-mail] 
 

Notes to investors and editors:

First Property Group plc is a 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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