Date: |
19 June 2017 |
On behalf of: |
First Property Group plc ("First Property", "the Company" or the "Group") |
Embargoed: |
0700hrs |
First Property Group plc
Fprop appoints Senior Adviser
First Property Group plc (AIM: FPO), the property fund manager and investor, is pleased to announce the appointment of Alasdair Findlay-Shirras as a Senior Adviser.
Alasdair has had an extensive career in international capital markets, with postings to New York, Dublin, Munich and London. Most recently he was Senior Advisor to leading German real estate group, Patrizia Immobilien AG. Previously he was the real estate partner at FIRST Avenue Partners, a global placement agent. This followed many years in London raising capital from Europe and the Middle East for Citi Property Investors and Henderson Global Investors, in the USA as an investment banker, and in Germany with Bayerische Vereinsbank (HVB), as head of Financial Institutions.
Alasdair's primary role will be to assist the Group to raise equity from third party investors for investment in Poland. His efforts in this regard should be assisted by the excellent track record of the Company, where its performance has consistently ranked number 1 versus MSCI's Central and Eastern European Benchmark since the establishment of its operations in Poland in 2005. The Group attributes its top ranked performance to its disciplined underwriting procedures at purchase and rigorous asset management thereafter by its 30-strong team of professionals based in its Warsaw office. This team performs nearly all aspects of fund and asset management in-house, a key competitive advantage.
The Group's Polish and Romanian commercial property business currently comprises 28 properties with a value of some €275 million.
Commenting on the appointment, Ben Habib, Chief Executive, said:
"We have known Alasdair for several years now, and have always been impressed with his integrity and professionalism. We have high hopes that his extensive network of investor contacts will accelerate our efforts to grow our fund management business. I look forward to working with him."
-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 [email protected] |
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Arden Partners (NOMAD & Broker) |
Tel: + 44 (20) 7614 5900 |
Chris Hardie (Director, Corporate Finance) Ben Cryer (Corporate Finance) |
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Redleaf PR |
Tel:+ 44 (20) 7382 4734 |
Rebecca Sanders-Hewett / Robin Tozer / Susie Hudson |
[email protected] |
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 eight other funds managed by FPAM.
Listed on AIM the Company has offices in London and Warsaw. Further information about the Company and its products can be found at: www.fprop.com.
