TPM Trust Property

    TRUST PROPERTY MANAGEMENT GROUP PLC                      

                           NOTICE OF GENERAL MEETING                           

Trust Property Management Group plc (the "Company") has posted a circular to
shareholders convening a general meeting, to be held at the Company's
registered office on 15 December 2008.  

The circular contains proposals to cancel the admission of the Company's shares
to AIM under AIM Rule 41. If shareholder approval is granted, it is expected
that cancellation of dealings will take effect on or around 16 January 2009.
Such cancellation requires the consent of not less than 75 per cent. of votes
cast by shareholders in a general meeting.

The Company has received irrevocable undertakings to vote in favour of the
proposals totalling 27,794,637 ordinary shares representing approximately 73.7
per cent. of the Company's ordinary shares.

The Company was admitted to trading on AIM on 21 March 2007 with a market
capitalisation of approximately �2.9m and a share price of 10p. The reasons for
admission were, inter alia, to offer potential vendors of businesses whose
businesses were acquired by the Company tradeable securities as consideration,
to raise the profile of the Company and to provide the Company with the ability
to raise additional funding as and when required and to incentivise key staff.

Since the Autumn of 2007 the credit crunch has taken hold and conditions in the
Company's key markets have deteriorated considerably. Given these conditions,
the Company has been taking steps to save costs wherever possible. The
Directors consider that the cost of being an AIM listed company, which they
estimate amounts to �150,000 per annum, does not provide the Company with any
significant benefit and given the limited liquidity in the trading of its
shares, the Board has decided that the Company would benefit from the
flexibility of being unquoted. Shareholder approval is now being sought to
cancel the Company's AIM admission in accordance with AIM Rule 41.

The Company will endeavour to continue to provide a number of the same
facilities and services to shareholders which are currently enjoyed as
shareholders of an AIM company. These include:

  * issue to shareholders of report and accounts annually;
   
  * maintenance of a website to keep shareholders informed of developments and
   
  * provision of a matched bargain share dealing service to shareholders; the
    Company is currently investigating such a dealing service and will
    endeavour to ensure that it is in place at the time of delisting from AIM,
    to enable those shareholders who wish to buy or sell shares to do so,
    albeit in a less liquid environment than that on AIM.
   
Copies of the circular are available from the Company's registered office at
Trust House, Unit 2 Colindale Business Centre, 126 Colindale Avenue, London NW9
5HD and can be downloaded from the Company's website, www.tpmgroupplc.co.uk.

 

For further information please contact:
Julian Finegold, Director                                  Tel: 020 8358 6530
Trust Property Management Group Plc                                          
                                                                             
Liam Murray/Aaron Smyth, Nominated Adviser                 Tel: 020 7492 4777
Dowgate Capital Advisers Limited                                             
                                                                             
David Morgan                                               Tel: 020 7747 7400
IAF Securities Limited                                                       
                                                                             
Isabel Crossley / Susie Callear                            Tel: 020 7236 1177
St Brides Media and Finance Ltd                                              

Note to Editors:

Trust Property Management Group plc, which floated on AIM in March 2007, is a
provider of professional property management and chartered surveying services,
with over 14,000 residential and commercial units under management. The
management believe that the Company is well positioned to take advantage of the
fragmented property management and surveying market through the consolidation
of its four key subsidiaries: Trust Property Management Limited, which
undertakes residential property management services; Dexter Brown Limited which
sources and manages commercial investment property; Trust Credit Services
Limited, which is a licensed credit facilities provider enabling tenants to
spread cost of ground rents and service charges; and Skylon Limited, which
provides a wide range of chartered surveying services.

The Company has a highly experienced management team including David Glass, the
founder of David Glass Associates which floated on AIM in November 1995;
Benjamin Mire, a Chairman of the Leasehold Valuation Tribunal and former
Director at Lee Baron Commercial Limited; Dr Julian Finegold, co-founder of
Trust Property Management Limited and former business and sales manager at IBM
UK; Larry Lipman, a well-known entrepreneur in the property sector and Trevor
Brown, founder of niche commercial property management company Dexter Brown
Limited, which was acquired by the Company in October 2007.



END

Trust Property (LSE:TPM)
Historical Stock Chart
Von Apr 2024 bis Mai 2024

Trust Property (LSE:TPM)
Historical Stock Chart
Von Mai 2023 bis Mai 2024