| Date: | 27 September 2023 |
| On behalf of: Embargoed: | First Property Group plc ("First Property", the "Company" or the "Group") Immediate release |
First Property Group plc
Result of AGM
First Property Group plc (AIM: FPO), the property fund manager and investor with operations in the United Kingdom and Central Europe, announces that at the Company's Annual General Meeting ("AGM") held earlier today, resolutions 1 to 6 were duly passed. Resolutions 7 and 8 were not passed.
Following resolutions 7 and 8 not being passed, the Directors do not currently have the authority to dis-apply statutory pre-emption rights in respect of new allotments of shares and the sale of treasury shares [i] and the Company does not have authority to make market purchases of its own shares.
The Board is committed to engaging in a constructive dialogue with the Company's shareholders. Following the voting at the AGM, the Board will seek to engage with those shareholders who are understood to have voted against certain of the resolutions to understand their views and/or any specific concerns.
The resolutions are set out in full in the Company's Notice of 2023 Annual General Meeting dated 18 August 2023.
-Ends-
For further information please contact:
| First Property Group plc | Tel: +44 (20) 7340 0270 |
| Ben Habib (Chief Executive Officer) Laura James (Finance Director) Jeremy Barkes (Director, Business Development) Jill Aubrey (Director, Company Secretary) | |
| | |
| Allenby Capital (Nominated Adviser & Broker) | Tel: + 44 (20) 3328 5656 |
| Nick Naylor / Daniel Dearden-Williams (Corporate Finance) Amrit Nahal / Tony Quirke (Equity Sales) | |
| | |
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 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 comprise six directly held properties in Poland, one in Romania, and non-controlling interests in nine of the twelve funds managed by FPAM.
Quoted on AIM, the Company has offices in London and Warsaw. Around one third of the Company's shares are owned by management, directors and their families. Further information about the Company and its properties can be found at: www.fprop.com. To receive RNS alerts by email please subscribe here.
[i] Statutory pre-emption rights do not apply to the allotment of shares or the sale of treasury shares under an employees' share scheme
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