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FIRST PROPERTY GROUP PLC (FPO)

AGM Reports

First Property (FPO) AGM Report 2012

I have been a shareholder of First Property (AIM:FPO) since 2010 and attended their AGM on 14th September. Background First Property is a peculiar beast, being primarily an asset manager of institutional property funds, but also owning stakes in some properties directly and stakes in its own funds, as “seed capital”. That leads to two alternatives methods of valuing the business: on earnings or NAV. Earnings comprise: Fund management fees Rental and capital returns from directly owned property stakes Income and capital gains from investments in ...

Post Date: September 18, 2012 AGM Date: September 14, 2012 Author: Mark Bentley Read more

Group description:	We are a relatively small group, but have a wide range of interests so always start every meeting with a discussion about world issues and the “investing environment” generally. We always discuss individual members market activity and any interesting opportunities on their watchlists. There is currently a lot of expertise in the small cap value area of the market within the group.
Meeting Type/Venue:	Our preference is for a physical meeting and a hotel in Meriden (Coventry) is the usual location, but we do have on-line meetings when weather and/or health issues make that the most suitable option. We rotate the chair and this is agreed at the previous meeting.
Meeting Frequency/Timing:	Our preference is to meet every 4 weeks on a Thursday evening, but the exact details are agreed at the previous meeting.

Group description:	The Options group has been meeting monthly for some 20+ years and new members who are either trading or interested in trading options are always welcome. Our members trade options predominately on both UK and USA shares, indices, currencies and commodities.
Meeting Type/Venue:	Prior to Covid all monthly meetings were at a west London golf club, close to an underground station, where we had a one course lunch prior to our meetings in a private room. Since Covid all meetings have been via video and some new members have joined who are too far from west London to meet face to face. However, it is intended that future meetings will be both in person and via video link.
Meeting Frequency/Timing:	Meetings are monthly, on the 4th Wednesday of each month, normally from 12:30 to 2:30 and sometimes run over.

Group description:	A small group whose primary interests are equity and Investment Trusts.
Meeting Type/Venue:	Currently meeting online using Skype. It is envisaged to have occasional meetings at member’s private houses in the future.
Meeting Frequency/Timing:	Meetings are held fortnightly on Tuesday mornings using Skype.

Group description:	Most members are experienced investors. The main focus is on equity investments (single stocks or investment trusts). Other asset classes are discussed. Meetings involve presentations from members who are expected to lead discussions from time to time.
Meeting Type/Venue:	Meeting quarterly, physically in Central London. Other months (8 months per year) on Zoom.
Meeting Frequency/Timing:	Meetings are generally held on the 3rd Wednesday of the month. The Quarterly physical meetings are from 11am-4pm (with approximately 1 hour break for lunch), the Zoom meetings (during the other 8 months) tend to last up to 2 hours (11am – 12:45pm).

Group description:	A long-established group, however, we welcome new applications. Our meetings start at 10:15am with coffee and scones when members comment on their investment activities since the previous month. Generally, each member reports on a specific Company/IT/Fund e.t.c. This brings us to about 12:30pm when the meeting ends, and we have lunch.
Meeting Type/Venue:	In-person at a Golf Club in Belfast.
Meeting Frequency/Timing:	The group usually meets on the second Wednesday of the month, all year round, except in July and August when we have no meetings. Meetings commence at 10:15am and last 2-3 hours (including lunch).

Group description:	We are a friendly social group welcoming investors with all levels of experience. Our membership varies between those with little or no knowledge of investing to those who live off their investing or their portfolios. We do not invest as a group so there is no money on the table, and we never discuss individual worth; we simply discuss and share investing ideas, we analyse the state of the market, individual stocks, funds, trusts, bonds etc., and we invite contributions from all group members. Guest speakers and company presentations are a regular feature, as is the SIGnet competition and also our own long-term Manchester Portfolio. We invite members to volunteer presentations from time to time on particular topics of their interest / expertise. At each meeting members are asked to share their latest or potential buying and selling activity. Our face-to-face meetings are punctuated by a lunch break, and for those with the time there is socialising and drinks afterwards. Most of all we learn from each other.
Meeting Type/Venue:	The group meets through a combination of Zoom and face-to-face meetings at a central Manchester boardroom style venue.
Meeting Frequency/Timing:	Meets bi-monthly, 10am-3pm on Monday mornings, usually mid-month.

Group description:	The Leicester Square Group welcomes investors with all levels of experience, but all members are expected to contribute to our discussions. We discuss/analyse individual stocks, market trends and investment topics. Guest speakers are sometimes invited to address the group. At each meeting all members are asked to inform the group of what stocks or collective investments they’ve been buying or selling, or are considering buying or selling. A friendly and supportive discussion is encouraged. The meeting is punctuated by a lunch break, providing an opportunity to socialise. After the meeting, members may stay on for drinks and to socialise further.
Meeting Type/Venue:	Physical meetings at a central London venue
Meeting Frequency/Timing:	Meets bi-monthly, 11am-4pm on a weekday