Business
Exercise of Options and Direc
Exercise of Options and Direc.
About this update from First Property Group Plc
[{"type":"text","content":"\n RNS Number : 9448I First Property Group PLC 22 March 2010 \n \n\n \nDate: 22 March 2010\nOn behalf of: First Property Group plc (\"First Property\" or the \"Group\")\nEmbargoed: Immediate Release\n \n \nFirst Property Group plc\n \nExercise of Options and Director's Shareholding\n \nThe 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.\n \nMr. 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.\n \nFollowing 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. \n \nApplication 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.\n \nFollowing 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.\n \nFor further information please contact:\n \n\n...