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RNS Number : 2036N

First Property Group PLC

28 September 2021

 
 Date:           28 September 2021 
 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 with operations in the United Kingdom and Central Europe, will hold its Annual General Meeting (AGM) today at 12 noon. It is being held online via Investor Meet Company ( https://www.investormeetcompany.com/first-property-group-plc/register-investor ) and at the Company's headquarters in London (though if any shareholders wish to attend in person, the Board has requested that they pre-register by emailing the Company Secretary, Jill Aubrey, at jill.aubrey@fprop.com ).

The meeting will be chaired by Alasdair Locke, Chairman. He will make the following statement:

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

"Group cash as at 17 September 2021 amounted to GBP12.36 million (31 March 2021: GBP16.24 million). This equates to 11.20 pence per share (31 March 2021: 14.71 pence per share).

"Third party funds under management stood at GBP530 million as at 31 August 2021 (31 March 2021: GBP527 million). Uninvested cash commitments to funds managed by FPAM amount to some GBP4.40 million as at 17 September 2021.

"Total funds under management, including Group Properties, amounted to GBP572 million as at 31 August 2021 (31 March 2021: GBP569 million).

"Interim results for the six months ended 30 September 2021 are scheduled to be announced on 24 November 2021."

-Ends-

For further information please contact:

 
 First Property Group plc                     Tel: +44 (20) 7340 0270 
 Ben Habib (Chief Executive Officer)          www.fprop.com 
  Laura James (Finance Director)               investor.relations@fprop.com 
  Jeremy Barkes (Director, Business 
  Development) 
  Jill Aubrey (Director, Company Secretary) 
 
 Arden Partners (NOMAD & Broker)              Tel: + 44 (20) 7614 5900 
 John Llewellyn-Lloyd 
  Antonio Bossi 
 
 SEC Newgate (PR)                             Tel: +44 (20) 3757 6880 
 Robin Tozer / Richard Bicknell / Isabelle    firstproperty@secnewgate.co.uk 
  Smurfitt

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.

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 include seven directly held properties in Poland and Romania, and interests in eleven of the thirteen 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 .

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END

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(END) Dow Jones Newswires

September 28, 2021 04:13 ET (08:13 GMT)

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