First Property Group PLC Share purchase by the Group in E and S Estates Ltd (6374H)
31 Juillet 2023 - 8:00AM
UK Regulatory
TIDMFPO
RNS Number : 6374H
First Property Group PLC
31 July 2023
Date: 31 July 2023
On behalf of: First Property Group plc ("First Property",
the "Company" or the "Group")
Embargoed: Immediate Release
First Property Group plc
Share purchase by the Group in E and S Estates Ltd
First Property Group plc (AIM: FPO), the property fund manager
and investor, is pleased to report that it has acquired the
minority interest (being 23%) in E and S Estates Ltd, a fund
managed by the Group, resulting in it now owning 100% of the shares
of E and S Estates Ltd in issue. The total consideration paid by
the Company amounted to GBP213,361.27.
E and S Estates Ltd is invested in one supermarket in Praga, a
suburb of Warsaw. This property was refinanced following the sale
of two other properties owned by E and S Estates Ltd, as announced
on 1 March 2023. The property was valued at EUR3,360,000 as at 31
March 2023.
ENDS
For further information please contact:
First Property Group plc Tel: +44 (20) 7340
0270
Ben Habib (Chief Executive Officer) investor.relations@fprop.com
Laura James (Group Finance Director)
Jeremy Barkes (Director, Business
Development)
Jill Aubrey (Director, Compliance
& Company Secretary)
Allenby Capital (NOMAD & Broker) Tel: + 44 (20) 3328
5656
Nick Naylor (Corporate Finance)
Daniel Dearden-Williams (Corporate
Finance)
Amrit Nahal (Sales and Corporate Broking)
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 six directly held properties in
Poland, one in Romania, and non-controlling interests in nine 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,
directors 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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END
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