Business
Grant of options
Grant of options.
About this update from First Property Group Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n \n Date:\n \n \n \n \n \n \n \n 3 April 2023\n \n \n \n \n \n \n On behalf of:\n \n \n \n \n First Property Group plc (\"First Property\", the \"Company\" or the \"Group\")\n \n \n \n \n \n \n Embargoed:\n \n \n \n \n 0700hrs\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n First Property Group plc\n \n \n \n \n Issuance of Director & Employee share options\n \n \n \n \n \n \n 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.\n \n \n \n \n \n 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. \n \n \n \n \n \n The options vest as follows:\n \n \n \n \n \n \n ·\n 33.3% on the first anniversary of grant;\n \n \n \n \n \n \n \n ·\n 33.3% on the second anniversary of grant; and\n \n \n \n \n \n \n \n ·\n the remainder on the third anniversary of grant.\n \n \n \n \n \n \n The Board approved the grant of these options to retain and incentivise key employees.\n \n \n \n \n \n The grants made are as follows:\n \n \n \n \n \n \n \n \n \n \n \n \n Directors\n \n \n \n \n \n \n No. of options\n \n \n \n \n \n \n Exercise price\n \n \n \n \n \n \n Option expiry date\n \n \n \n \n \n \n Total no. of options now held\n \n \n \n \n \n \n \n Ben Habib\n \n \n \n \n 5,875,000\n \n \n \n \n 24 pence\n \n \n \n \n 31 March 2033\n \n \n \n \n 5,875,000\n \n \n \n \n \n \n Laura James\n \n \n \n \n 1,875,000\n \n \n \n \n 24 pence\n \n \n \n \n 31 March 2033\n \n \n \n \n 1,875,000\n \n \n \n \n \n \n \n Other employees\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Jill Aubrey\n \n \n \n \n 875,000\n \n \n \n \n 24 pence\n \n \n \n \n 31 March 20...