Change of FTSE ICB
December 21 2011 - 1:00AM
RNS Non-Regulatory
TIDMFPO
First Property Group PLC
21 December 2011
Date: 21 December 2011
On behalf of: First Property Group plc ("First Property", the "Company" or the "Group")
Embargoed for: 0700hrs
First Property Group plc
Change of FTSE Industry Classification Benchmark
First Property Group plc (AIM: FPO), the commercial property
fund management group, is pleased to announce that, at the December
quarterly review of the FTSE Industry Classification Benchmark
(ICB), the Company's classification was changed from sub-sector
Real Estate Services (8637) to sub-sector Asset Managers (8771).
This change in classification follows the disposal of the Company's
60% interest in First Property Services Ltd, a mechanical and
electrical (M&E) contractor, earlier this year and the
resulting proportionate increase in the Group's earnings arising
from the Company's main operating business, commercial property
fund management.
-Ends-
For further information please contact:
First Property Group plc Tel: 020 7340 0270
Ben Habib (Chief Executive) www.fprop.com
Jeremy Barkes (Director, Business investor.relations@fprop.com
Development)
Redleaf Polhill Tel: 020 7566 6750
Mike Ward firstproperty@redleafpolhill.com
Notes to investors and editors:
First Property Group plc is a commercial property fund manager
with operations in the United Kingdom and Central Europe. The
performance of its funds under management ranked No.1 versus the
Investment Property Databank (IPD) Benchmarks for Central &
Eastern Europe (CEE) and for Poland for the five year period to 31
December 2010.
The business model of First Property Group is to:
-- Raise third party funds to invest in income producing commercial property;
-- Co-invest in these funds;
-- Earn fees for the management of these funds. Fees earned are
a function of the value of assets under management as well as the
performance of the funds;
-- Earn a return on its own capital invested in these funds.
Further information about the Company and its products can be
found at: www.fprop.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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