Last checked at 22 Mar 2010 12:20
Date: 22 March 2010
On behalf of: First Property Group plc ("First Property" or the "Group")
Embargoed: Immediate Release
First Property Group plc
Exercise of Options and Director's Shareholding
The Board of First Property Group plc (AIM: FPO) announces that the Company was notified on 22 March 2010 that Ben Habib, Chief Executive of First Property, has exercised options to subscribe for 2,000,000 Ordinary Shares in the Company of 1p each ("Ordinary Shares"). The option exercise price was 7 pence per share in respect of 1,500,000 Ordinary Shares and 6.5 pence per share in respect of 500,000 Ordinary Shares.
Mr. Habib also informed the Company on 22 March 2010 that on 19 March 2010 he sold 800,000 ordinary shares at 17.0 pence per share. These shares were sold by Mr. Habib to meet the cost of exercising his options.
Following the exercise of options and sale of shares, Mr. Habib's beneficial holding in the Company has increased by 1,200,000 Ordinary Shares to 16,700,000 Ordinary Shares, representing 15.2% of the issued share capital of the Company.
Application will shortly be made for the 2,000,000 Ordinary Shares to be admitted to AIM, with trading expected to commence on or around 26 March 2010 ("Admission"). Upon Admission, these shares will rank pari passu in all respects with the existing Ordinary Shares of the Company.
Following these transactions, First Property has in issue (excluding the total of 3,830,588 ordinary shares now held in treasury) 109,770,527 Ordinary Shares. The figure of 109,770,527 Ordinary Shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.
For further information please contact:
| First Property Group plc | Via Redleaf Communications |
| Ben Habib (Chief Executive) Jeremy Barkes (Director, FJB Capital Advisers) | www.fprop.com Tel: 020 7731 2844 |
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| Arden Partners | Tel: 020 7614 5900 |
| Chris Hardie (Director Corporate Finance ) |
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| Redleaf Communications | Tel: 020 7566 6700 |
| Adam Leviton/Lucy Salaman | firstproperty@redleafpr.com |
Notes to editors:
About First Property Group plc
§ First Property Group plc was established in March 2000 by Chief Executive Ben Habib and listed its shares on the Alternative Investment Market (AIM) in December 2000.
§ First Property Group plc is a property services group which provides the following core services:
- Property Fund Management - provided by wholly owned subsidiary, First Property Asset Management Ltd (FPAM), with operations in the United Kingdom (UK) and Central & Eastern Europe (CEE). The performance of its funds under management in the CEE region are ranked #1 over the period 2006-2008 inclusive, as measured against IPD CEE Benchmark.
- Property Trading - provided by FPAM.
- Facilities Management - via its 60% stake in First Property Services Ltd, an Electrical & Mechanical installation and maintenance contractor.
§ Further information about the Company and its products can be found at: www.fprop.com