This investment trust held its 108th Annual General Meeting on the 24th July at the Royal Automobile Club, Pall Mall, London. A pretty poor year for the company as although Revenue was up by 6% to £26.4 million, NAV was down 11% with a corresponding drop in the share price of 9.5% to 154.50p. The Trust maintains a portfolio in shares of property companies of all sizes on an international basis and also in investment property located within the UK. The meeting was attended by well over 80 shareholders plus board and fund managers. We kicked off with an introduction of the board by Mr Peter Salsbury the chairman. It was immediately clear that the chairman / board were just going through the motions of an AGM without much interest
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