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FCPT shareholders vote against merger

Shareholders in the F&C commercial property trust have voted against its proposed merger with the Ignis Investments’ UK commercial property trust at an extraordinary general meeting held today.

Votes in favour of the merger totalled 49.93 per cent, versus 50.07 per cent of shareholders who voted against it.

A statement to the London Stock Exchange said although the proposals had the support of a “significant majority of shareholders they did not have the support of the independent shareholders”.

The statement continues: “The Board with its advisers will now consider the future of the company and will consult with its key shareholders.”


Jailed for BTL fraud

A former Metropolitan Police fraud detective was jailed for nearly six years this week after admitting to fraud relating to 23 buy-to-let properties worth about £3.7m. He inflated the value to borrow over the maximum 85 per cent loan to value.


Out of context

“I’ve managed to persuade Aston to join us from his holidays. He can’t resist a tap dancer in tight trousers.”MGM’s Lynsay Dickinson lures director of sales and marketing Aston Goodey to Tap Dogs the musical. “Just lie on the deck and you’ll be fine.”Skipper on board a sailing trip with Honister Capital in Cowes gives […]

Schemes fail TPR Omo test

The Pensions Regulator has forced six defined-contribution pension schemes to rewrite their retirement literature after failing to flag up the open market option adequately to members. TPR reviewed the literature of 97 DC pension schemes and found 98 per cent were complying with the legal requirement to inform members of the Omo. A total of […]


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