AGM Statement

RNS Number : 5741L

First Property Group PLC

09 September 2019

 

Date:	9 September 2019
On behalf of:	First Property Group plc ("First Property", "the Company" or the "Group")
Embargoed:	0700 hours

First Property Group plc

AGM Statement

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

The meeting will be chaired by Peter Moon, the senior Independent Director, who will make the following statement:

"I am pleased to report that the Group continues to trade well and in accordance with management's expectations.

"Third party funds under management have increased by around a third over the past year, as reported in our Preliminary Results, and stood at £617 million as at 31 July 2019 (31 March 2019: £611 million). Total funds under management, including Group Properties, amounted to £716 million as at 31 July 2019 (31 March 2019: £706 million).

"Interim results for the six months ended 30 September 2019 are scheduled to be announced on 21 November 2019."

-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
John Llewellyn-Lloyd Ben Cryer
Newgate Communications (PR)	Tel: [phone]
Fiona Norman / Tom Carnegie	[e-mail]

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 thirteen 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 nine wholly owned properties in Poland and Romania and non-controlling interests in nine of the thirteen funds managed by FPAM.

Listed on AIM the Company has offices in London, Warsaw and Bucharest. Around one third of the shares in the Company are owned by management and their families. Further information about the Company and its products can be found at: www.fprop.com.

 

END

 

 

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