viewFirst Property Group PLC

First Property Group - AGM Statement

RNS Number : 8748Z
First Property Group PLC
23 September 2015


23 September  2015

On behalf of:

First Property Group plc ("First Property", "the Company" or the "Group")




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."




For further information please contact:


First Property Group plc    

Tel: +44 (20) 7340 0270

Ben Habib (Chief Executive Officer)

George Digby (Group Finance Director)

Jeremy Barkes (Director, Business Development)


[email protected]

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

[email protected]



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:

Six directly owned properties in Poland and Romania;

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

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.


This information is provided by RNS
The company news service from the London Stock Exchange

Quick facts: First Property Group PLC

Price: 39.55

Market: AIM
Market Cap: £43.66 m

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