First Property Group plc, a property fund manager and investor with operations in the UK and Central Europe, has announced the results of its Annual General Meeting (AGM). Resolutions 1 to 6 were passed, while resolutions 7 and 8 were not passed. As a result, the directors currently do not have the authority to dis-apply statutory pre-emption rights in respect of new allotments of shares and the sale of treasury shares, and the company does not have the authority to make market purchases of its own shares.
The board of directors is committed to engaging in a constructive dialogue with the company's shareholders. They will seek to engage with those shareholders who voted against certain resolutions to understand their views and any specific concerns. The resolutions can be found in the company's Notice of 2023 AGM dated 18 August 2023.
First Property Group plc is an award-winning property fund manager and investor that focuses on higher yielding commercial property with sustainable cash flows. The company's earnings are derived from fund management, through its subsidiary First Property Asset Management Ltd, which manages twelve funds invested in the UK, Poland, and Romania, and from principal investments made by the group in partnership with third parties. The company is quoted on AIM and has offices in London and Warsaw. Approximately one third of the company's shares are owned by management, directors, and their families.