Last checked at 27 Mar 2018 14:39
Date: | 27 March 2018 |
On behalf of: | First Property Group plc ("First Property", "the Company" or the "Group") |
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 12,082 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 31 October 2017.
Under the terms of his appointment Mr Moon receives 40% of his emoluments (£12,000 was the relevant annual value to 31 October 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 24 November 2017 and 30 November 2017, adjusted for the interim dividend, was 49.66 pence. A similar announcement is expected in September 2018 following the publication of the Group's Annual Report.
As a result of this allotment of shares, Mr Moon's shareholding in the Company is 446,019 Ordinary Shares, which equates to 0.38% of the issued Ordinary Share capital.
Following the sale from Treasury, the Company has 116,016,546 Ordinary Shares in issue. The figure of 116,016,546 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. 584,569 Ordinary Shares remain in Treasury.
-Ends-
For further information please contact:
First Property Group plc | Tel: +44 (20) 7340 0270 |
Ben Habib (Chief Executive Officer) George Digby (Group Finance Director) Jeremy Barkes (Director, Business Development) | www.fprop.com investor.relations@fprop.com |
Arden Partners (NOMAD & Broker) | Tel: + 44 (20) 7614 5900 |
Chris Hardie (Director, Corporate Finance) Ben Cryer (Corporate Finance) | |
Redleaf Communications (PR) | Tel:+ 44 (20) 3757 6865 |
Robin Tozer / Elisabeth Cowell | firstproperty@redleafpr.com |
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.