First Property Group PLC Purchase of own shares into treasury (1244K)

TIDMFPO

RNS Number : 1244K

First Property Group PLC

06 April 2018

 
 Date:        6 April 2018 
 On behalf    First Property Group plc ("First 
  of:          Property", "the Company" or the "Group") 
 Embargoed:   Immediate release 
 

First Property Group plc

Purchase of own shares into treasury

First Property Group plc (AIM: FPO), the property fund manager and investor, announces that it has today purchased into treasury 4,775,000 of its Ordinary shares of 1 pence each at a price of 46 pence each on the market. This represents a discount to both the current share price and the last reported net asset value per share of the Group.

Following this purchase, First Property has 111,241,546 Ordinary shares in issue and 5,359,569 Ordinary shares held 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 (NOMAD & Broker)     Tel: [phone] 
 Chris Hardie / Benjamin Cryer 
 
 Redleaf Communications (PR)         Tel: [phone] 
 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, Warsaw and Bucharest. 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

POSBGGDSGDGBGIL

(END) Dow Jones Newswires

April 06, 2018 06:23 ET (10:23 GMT)