First Property Group PLC Director/PDMR Shareholding (2183R)

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RNS Number : 2183R

First Property Group PLC

20 September 2017

 
 Date:        20 September 2017 
 On behalf    First Property Group plc ("First 
  of:          Property", "the Company" or the "Group") 
 Embargoed:   0700 hours 
 

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 11,765 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 2017.

Under the terms of his appointment Mr Moon receives 40% of his emoluments (GBP12,000 was the relevant annual value to 30 April 2017), 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 9 June 2017 and 15 June 2017, adjusted for the final dividend, was 51.00 pence. A similar announcement is expected in February 2018 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 433,937 Ordinary Shares, which equates to 0.37% of the issued Ordinary Share capital.

Following the sale from Treasury, the Company has 116,004,464 Ordinary Shares in issue. The figure of 116,004,464 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. 596,651 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)                            [e-mail] 
  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 4730 
 Robin Tozer / Elisabeth Cowell      [e-mail] 
 

Notes to Investors and Editors:

First Property Group plc is an award winning property fund manager and investor with operations in the United Kingdom and Central Europe. Around one third of the shares in the Company are owned by management and their families.

Its focus is on higher yielding commercial property with sustainable cash flows. The company is flexible and takes an active approach to asset management. 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. FPAM currently manages eleven funds which are invested across the United Kingdom, Poland and Romania.

-- Group Properties - principal investments by the Group, to earn a return on its own capital, usually in partnership with third parties. Investments include ten directly held properties in Poland and Romania (including five held by Fprop Opportunities plc [FOP], in which the Group is currently the majority shareholder), and interests in nine other funds managed by FPAM.

Listed on AIM the Company has offices in London and Warsaw. 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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September 20, 2017 02:01 ET (06:01 GMT)