First Property Group PLC Exercise of Options and Total Voting Rights (5338N)

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RNS Number : 5338N

First Property Group PLC

29 January 2016

 
 Date:        29 January 2016 
 On behalf    First Property Group plc ("First 
  of:          Property", "the Company" or the "Group") 
 Embargoed:   Immediate release 
 

First Property Group plc

Exercise of Options and Total Voting Rights

First Property Group plc (AIM: FPO), the property fund manager and investor, was notified on 28 January 2016 that Ben Habib, Group Chief Executive and George Digby, Group Finance Director, have respectively exercised 500,000 and 1,000,000 options over Ordinary shares, granted pursuant to the First Property Group Share Option Scheme, at an exercise price of 15.75p pence per Ordinary share. In addition Martin Pryce, a director of First Property Asset Management Ltd, exercised 250,000 options over Ordinary shares, also granted pursuant to the First Property Group share option scheme, at an exercise price of 15.75p per Ordinary share.

Ben Habib has sold all the Ordinary shares allotted to him following the exercise of his options, at a price of 50 pence per Ordinary share. George Digby and Martin Pryce have sold 650,000 Ordinary shares and 100,000 Ordinary shares respectively, also at a price of 50 pence per Ordinary share.

Following these transactions, Ben Habib's total shareholding in the Company remains unchanged at 16,700,000 Ordinary shares, representing 14.4% of the Ordinary shares in issue. George Digby's total shareholding in the Company has increased from 270,000 to 620,000 Ordinary shares, representing 0.5% of the Ordinary shares in issue. The number of outstanding share options over Ordinary shares has reduced to 2,700,000.

In order to satisfy this exercise of options, 1,750,000 new Ordinary shares were issued which will be admitted to AIM on 4 February 2016, resulting in the total number of issued and fully paid Ordinary shares increasing to 116,601,115. The figure of 115,967,111 Ordinary shares should be used by shareholders as the denominator for calculations by which to determine if they are required to notify their interest, or a change in their interest, in the Ordinary share capital of First Property Group plc under the Financial Conduct Authority's Disclosure and Transparency rules. 634,004 Ordinary shares remain in Treasury.

-Ends-

For further information please contact:

 
 First Property Group plc            Tel: [phone] 
 Ben Habib (Chief Executive          www.fprop.com 
  & Chief Investment Officer) 
  George Digby (Group Finance 
  Director) 
 Jeremy Barkes (Director, Business 
  Development) 
 Arden Partners                      Tel: [phone] 
 Chris Hardie / Benjamin Cryer 
 
 Redleaf Polhill                     Tel: [phone] 
 Henry Columbine / Susie Hudson      [e-mail] 
 

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 have ranked No.1 versus the Investment Property Databank (IPD) Central & Eastern Europe (CEE) universe for the annualised periods from the commencement of its operations in Poland in 2005 to the end of each of the years between 31 December 2008 and 31 December 2014.

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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January 29, 2016 12:26 ET (17:26 GMT)