First Property Group PLC AGM Statement (3141B)
September 20 2018 - 2:00AM
UK Regulatory
TIDMFPO
RNS Number : 3141B
First Property Group PLC
20 September 2018
Date: 20 September 2018
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 with operations in the United Kingdom and Central
Europe, 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:
"I am pleased to report that the Group continues to trade well
and in accordance with management's expectations.
"Aggregate funds under management, including those held by the
Group, currently stand at GBP711 million, compared to GBP626
million at the financial year end on 31 March 2018. Of this, GBP537
million is managed on behalf of third-party clients, an increase of
18% over the same period. Over the last three years aggregate funds
under management have more than doubled, driven by the growth in
funds managed on behalf of third-party clients.
"We plan to report interim results for the six months ended 30
September 2018 on Thursday 22 November 2018."
-Ends-
For further information please contact:
First Property Group plc Tel: +44 (20) 7340
0270
Ben Habib (Chief Executive Officer) www.fprop.com
George Digby (Group Finance Director) investor.relations@fprop.com
Jeremy Barkes (Director, Business
Development)
Arden Partners (NOMAD & Broker) Tel: +44 (20) 7614
5900
Chris Hardie (Director, Corporate
Finance)
Ben Cryer (Corporate Finance)
Redleaf Communications (PR) Tel: +44 (20) 3757
6865
Robin Tozer / Lizzie Cowell firstproperty@redleafpr.com
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. Around one third of the shares in the Company are
owned by management and their families. It has grown its adjusted
net assets, together with dividends paid, by some 26% on an
annualised basis since 2006.
The Group's 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 include ten directly held properties in Poland
and Romania (including five held by Fprop Opportunities plc [FOP],
in which the Group is currently the majority shareholder), and
interests in nine other funds managed by FPAM.
Listed on AIM the Company has offices in London, Warsaw and
Bucharest. Further information about the Company and its products
can be found at: www.fprop.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
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contact rns@lseg.com or visit www.rns.com.
END
AGMSFMFIUFASEDU
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