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First Property Group - Director's Shareholding & Ordinary Shares in Issue

RNS Number : 2141E
First Property Group PLC
06 February 2015
 

Date:

6 February 2015

On behalf of:

First Property Group plc ("First Property", "the Company" or the "Group")

Embargoed:

0700hrs

 

 

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 23,181 Ordinary Shares of one pence each in the Company ("Ordinary Shares") to Mr Peter Moon, a non-executive Director, in satisfaction of part of his emoluments for the six months ended 31 October 2014.

 

Under the terms of his appointment Mr Moon is due to receive 40% of his emoluments, equating to £11,000 annually, 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 26 November 2014 and 2 December 2014, following the Company's Interim results, was 31.8 pence. This payment also includes the payment of an additional 5,885 shares in recognition of missed dividend payments arising from the time lag between the measurement period and the issue date of the new shares, dating back to the commencement of Mr Moon's appointment in 2010. A similar announcement is expected in September 2015 following the publication of the Group's Final Results.

 

As a result of this allotment of shares, Mr Moon's shareholding in the Company is 372,014 Ordinary Shares, which equates to 0.33% of the enlarged issued Ordinary Share capital.

 

Following the sale from Treasury, the Company has in issue 113,792,541 Ordinary Shares. The figure of 113,792,541 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. 1,058,574 Ordinary Shares remain in Treasury.

 

-Ends-

 

For further information please contact:

First Property Group plc

Tel: 020 7340 0270

Ben Habib (Chief Executive & Chief Investment Officer)


George Digby (Group Finance Director)


Jeremy Barkes (Director, Business Development)

[email protected]



Arden Partners

Tel: 020 7614 5900

Chris Hardie (Director, Corporate Finance)


Michael McNeilly (Corporate Finance)




Redleaf Polhill            

Tel: 020 7382 4763

George Parrett / Henry Columbine

[email protected]

 

Notes to investors and editors:

 

First Property Group plc is a property fund manager with operations in the United Kingdom and Central Europe. Its business model is to:

 

·      Raise third party funds to invest in income producing commercial property;

·      Co-invest in these funds and thereby earn a return on its own capital invested; and

·      Earn fees from the management of these funds. Fees earned are typically a function of the value of assets under management as well as the performance of the funds.

 

The investment performance of its funds under management in Poland and in Central Europe ranked No.1 versus the Investment Property Databank (IPD) universe for Central & Eastern Europe (CEE) over the eight years to 31 December 2013, having previously ranked No.1 versus the IPD CEE universe over the three, four, five, six and seven years to 31 December 2008, 2009, 2010, 2011 & 2012 respectively.

 

First Property Asset Management Limited is authorised and regulated by the Financial Conduct Authority. 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
 
 
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Quick facts: First Property Group PLC

Price: 38.5

Market: AIM
Market Cap: £42.5 m
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