First Property Group PLC AGM Statement (7919Z)
23 Settembre 2020 - 8:00AM
UK Regulatory
TIDMFPO
RNS Number : 7919Z
First Property Group PLC
23 September 2020
Date: 23 September 2020
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 a closed meeting and will be chaired by Ben
Habib, Chief Executive. 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 21 September 2020, calculated post deduction
of the final dividend of GBP1.35 million, amounted to GBP21.4
million. This equates to 19.4 pence per share.
"Third party funds under management stood at GBP564 million as
at 31 August 2020 (31 March 2020: GBP567 million). Uninvested cash
commitments to these funds amount to some GBP80 million.
"Total funds under management, including Group Properties,
amounted to GBP620 million as at 31 August 2020 (31 March 2019:
GBP623 million).
"Average rent collection rates for the five months from the end
of March 2020, after adjusting for concessions made to tenants
which requested to pay rent monthly and for deferrals agreed, are
as follows:
UK Poland Romania
8 directly owned Group Properties n/a 96% 93%
---- ------- --------
Properties held in funds managed
by FPAM 94% 96% 95%
---- ------- --------
"These collection rates bear testimony not just to our proactive
approach to asset management but also our property selection.
"Interim results for the six months ended 30 September 2020 are
scheduled to be announced on 26 November 2020."
-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 (Director) investor.relations@fprop.com
Laura James (Interim Finance Director)
Jeremy Barkes (Director, Business
Development)
Jill Aubrey (Director, Company Secretary)
Arden Partners (NOMAD & Broker) Tel: + 44 (20) 7614 5900
John Llewellyn-Lloyd
Ben Cryer
Newgate Communications (PR) Tel: +44 (20) 3757 6880
Robin Tozer / Tom Carnegie / Isabelle firstproperty@newgatecomms.com
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.
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 eight wholly owned properties in
Poland and Romania and non-controlling interests in eight of the
twelve 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 .
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END
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