First Property Regulatory News (FPO)

19 Sep 2006 07:01

First Property Group PLC19 September 2006 Embargoed until 0700, 19 September 2006 First Property Group plc AGM Statement First Property Group plc ("the Company") (AIM: FPO), the property asset management business and online commercial property transaction platform announces that at its AGM today, its chairman, Alasdair Locke, will read the following statement: "Since the beginning of the year the Company has continued to make considerable progress. "Our asset management division has been extremely busy and, since the announcement of our annual results in June 2006, has acquired a further €30 million of assets and contracted to acquire an additional €13 million in CentralEurope, primarily on behalf of the fund we manage for the Universities Superannuation Scheme. Total assets under management now exceed £75 million. "As anticipated and highlighted at the time of our last full year results, our underwriting and trading activities have reduced but the division has nevertheless had a good first half. "First Property Services, a new facilities maintenance and building services company which we formed in February following the acquisition of Direction International plc, is trading extremely well and ahead of budget. "I look forward to the future of the Company with confidence." -Ends- For further information:Ben Habib, Chief Executive, First Property Group plc: 020 7731 2844 Richard Sunderland/Rachel Drysdale, Tavistock Communications Limited: 020 7920 3150 This information is provided by RNS The company news service from the London Stock Exchange