AGM Statement

RNS Number : 8748Z

First Property Group PLC

23 September 2015

 

Date:	23 September  2015
On behalf of:	First Property Group plc ("First Property", "the Company" or the "Group")
Embargoed:	0700hrs

First Property Group plc

AGM Statement

First Property Group plc (AIM: FPO), the property fund manager and investor, will hold its Annual General Meeting (AGM) today at 12 noon.

At the AGM, the Company's Chairman, Alasdair Locke, will make the following statement:

"The Company continues to trade well and in line with expectations.

"Our aggregate funds under management, including those held by the Group, stood at £271 million on 31 August 2015, compared to £327 million at our financial year end on 31 March 2015. The reduction is principally attributable to the expiry in August of our fund management contract with Universities Superannuation Scheme (USS).

"We plan to report interim results on Thursday 26 November 2015."

-Ends-

For further information please contact:

First Property Group plc	Tel: [phone]
Ben Habib (Chief Executive Officer) George Digby (Group Finance Director) Jeremy Barkes (Director, Business Development)	www.fprop.com [e-mail]
Arden Partners (NOMAD & Broker)	Tel: + 44 (20) 7614 5900
Chris Hardie (Director, Corporate Finance) Michael McNeilly (Corporate Finance)
Redleaf Communications  (PR)	Tel:+ 44 (20) 7382 4734
Richard Gotla / Henry Columbine	[e-mail]

Notes to investors and editors:

First Property Group plc is a property fund manager and investor with operations in the United Kingdom and Central Europe. 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 in the UK and Central Europe (mainly Poland);

·     Group Properties - principal investments by the Group, currently comprising:

o  Six directly owned properties in Poland and Romania;

o  Five properties in Poland held by Fprop Opportunities plc (FOP), an FPAM managed fund in which the Group is a 76.2% shareholder;

o  Non-controlling interests in four other funds managed by FPAM.

FPAM funds have ranked No.1 versus the Investment Property Databank (IPD) Central & Eastern Europe (CEE) universe for the annualised periods from the commencement of its operations in Poland in 2005 to the end of each of the years between 31 December 2008 and 31 December 2014.

First Property Asset Management Limited is authorised and regulated by the Financial Conduct Authority. Further information about the Company and its products can be found at: www.fprop.com.

 

END

 

 

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