First Property Group PLC Purchase of own shares into treasury (6868M)

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RNS Number : 6868M

First Property Group PLC

18 September 2019

 
 Date:           18 September 2019 
 On behalf of:   First Property Group plc ("First 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 on 17 September 2019 it purchased into treasury 500,000 of its Ordinary shares of 1 pence each at a price of 42.5 pence each on the market. The purchase of these shares will serve to boost the Group's net asset value per share given the significant discount at which these shares were acquired.

Following this purchase First Property has 110,854,001 Ordinary shares in issue. Shareholders may use this figure as the denominator to calculate if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules. 5,747,114 Ordinary shares are held in treasury.

-Ends-

For further information please contact:

 
 First Property Group plc                         Tel: [phone] 
 Ben Habib (Chief Executive & Chief               www.fprop.com 
  Investment Officer) 
  George Digby (Group Finance Director) 
 Jeremy Barkes (Director, Business Development) 
 Arden Partners (NOMAD & Broker)                  Tel: [phone] 
 John Llewellyn-Lloyd / Benjamin Cryer 
 
 Newgate Communications (PR)                      Tel:[phone] 
 Robin Tozer / Tom Carnegie / Fiona               [e-mail] 
  Norman 
 

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.

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 thirteen 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 comprise nine wholly owned properties in Poland and Romania and non-controlling interests in nine of the thirteen funds managed by FPAM.

Listed on AIM the Company has offices in London, Warsaw and Bucharest. Around one third of the shares in the Company are owned by management and their families. Further information about the Company and its products can be found at: www.fprop.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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September 18, 2019 02:01 ET (06:01 GMT)