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First Property Group plc granted options to subscribe for 10,450,000 new ordinary shares to its directors and employees on 31 March 2023. These options are exercisable at 24 pence per share, have a term of ten years, and will expire at midnight on 31 March 2033. This grant increases the total number of outstanding options over Ordinary Shares to 12,560,000, representing approximately 11.33% of the Company's issued share capital.
| Date | 3 Apr 2023 |
| Time | 07:00:16 |
| Category | Director/PDMR dealings |
| ID | 0098V |
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Date: |
3 April 2023 |
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On behalf of: |
First Property Group plc ("First Property", the "Company" or the "Group") |
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Embargoed: |
0700hrs |
First Property Group plc
Issuance of Director & Employee share options
First Property Group plc, the award-winning property fund manager and investor with operations in the United Kingdom and Central Europe, announces that options to subscribe for 10,450,000 new ordinary shares in the Company (the "Ordinary Shares") were granted on 31 March 2023 to employees at an exercise price of 23.5 pence per Ordinary Share, being the mid-market closing price on 30 March 2023. The options have a term of ten years and any unexercised options will expire at midnight on 31 March 2033.
The options granted will result in an increase from 2,110,000 to 12,560,000 in the number of outstanding options over Ordinary Shares, representing approximately 11.33% of the Company's issued share capital.
The options vest as follows:
· 33.3% on the first anniversary of grant;
· 33.3% on the second anniversary of grant; and
· the remainder on the third anniversary of grant.
The Board approved the grant of these options to retain and incentivise key employees.
The grants made are as follows:
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Directors |
No. of options |
Exercise price |
Option expiry date |
Total no. of options now held |
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Ben Habib |
5,875,000 |
24 pence |
31 March 2033 |
5,875,000 |
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Laura James |
1,875,000 |
24 pence |
31 March 2033 |
1,875,000 |
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Other employees |
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Jill Aubrey |
875,000 |
24 pence |
31 March 2033 |
985,000 |
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Jeremy Barkes |
- |
- |
- |
2,000,000 |
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Przemek Kiszka |
875,000 |
24 pence |
31 March 2033 |
875,000 |
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Other Employees |
950,000 |
24 pence |
31 March 2033 |
950,000 |
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Total |
10,450,000 |
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12,560,000 |
ENDS
For further information please contact:
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First Property Group plc |
Tel: +44 (20) 7340 0270 |
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Ben Habib (Chief Executive Officer) Laura James (Group Finance Director) Jeremy Barkes (Director, Business Development) Jill Aubrey (Director, Compliance & Company Secretary) |
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Allenby Capital (NOMAD & Broker) |
Tel: + 44 (20) 3328 5656 |
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Nick Naylor (Corporate Finance) Daniel Dearden-Williams (Corporate Finance) Amrit Nahal (Sales and Corporate Broking) |
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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 twelve 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 three directly held properties in Poland, one in Romania, and non-controlling interests in ten of the twelve funds managed by FPAM.
Quoted on AIM, the Company has offices in London and Warsaw. Around one third of the Company's shares are owned by management and their families. Further information about the Company and its properties can be found at: www.fprop.com. To receive RNS alerts by email please subscribe here.
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Details of the person discharging managerial responsibilities / person closely associated |
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Reason for the notification |
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a) |
Position/status |
See 1a) |
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b)
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Initial notification /Amendment |
Initial notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
First Property Group plc |
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b) |
LEI |
213800O4C71RSRQVHH77 |
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4
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Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
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a)
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Description of the financial instrument, type of instrument Identification code |
Options over ordinary shares of GBP0.01 each in First Property Group plc
Identification code (ISIN) for First Property Group plc ordinary shares: GB0004109889 |
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b) |
Nature of the transaction |
Grant of options over ordinary shares |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information - Aggregated volume - Price |
n/a |
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e) |
Date of the transaction |
31 March 2023 |
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f) |
Place of the transaction |
Outside a trading venue |
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
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2 |
Reason for the notification |
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a) |
Position/status |
See 1a) |
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b)
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Initial notification /Amendment |
Initial notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
First Property Group plc |
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b) |
LEI |
213800O4C71RSRQVHH77 |
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4
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Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
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a)
|
Description of the financial instrument, type of instrument Identification code |
Options over ordinary shares of GBP0.01 each in First Property Group plc
Identification code (ISIN) for First Property Group plc ordinary shares: GB0004109889 |
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b) |
Nature of the transaction |
Grant of options over ordinary shares |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information - Aggregated volume - Price |
n/a |
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e) |
Date of the transaction |
31 March 2023 |
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f) |
Place of the transaction |
Outside a trading venue |
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
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2 |
Reason for the notification |
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a) |
Position/status |
See 1a) |
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b)
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Initial notification /Amendment |
Initial notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
First Property Group plc |
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b) |
LEI |
213800O4C71RSRQVHH77 |
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4
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Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||||
|
a)
|
Description of the financial instrument, type of instrument Identification code |
Options over ordinary shares of GBP0.01 each in First Property Group plc
Identification code (ISIN) for First Property Group plc ordinary shares: GB0004109889 |
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b) |
Nature of the transaction |
Grant of options over ordinary shares |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information - Aggregated volume - Price |
n/a |
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e) |
Date of the transaction |
31 March 2023 |
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f) |
Place of the transaction |
Outside a trading venue |
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
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2 |
Reason for the notification |
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a) |
Position/status |
See 1a) |
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b)
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Initial notification /Amendment |
Initial notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
First Property Group plc |
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b) |
LEI |
213800O4C71RSRQVHH77 |
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4
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Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||||
|
a)
|
Description of the financial instrument, type of instrument Identification code |
Options over ordinary shares of GBP0.01 each in First Property Group plc
Identification code (ISIN) for First Property Group plc ordinary shares: GB0004109889 |
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b) |
Nature of the transaction |
Grant of options over ordinary shares |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information - Aggregated volume - Price |
n/a |
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e) |
Date of the transaction |
31 March 2023 |
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f) |
Place of the transaction |
Outside a trading venue |
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