Shareholders of The Property Franchise Group have given strong backing to the company’s leadership and strategy after voting in favour of all resolutions put forward at its annual general meeting.
Investors approved each of the 17 resolutions tabled at the meeting on 28 May, including the adoption of the group’s 2025 annual report and accounts, the re-election of directors, the payment of a final dividend and the reappointment of auditors.
Shareholders also renewed the board’s authority to issue shares, disapply certain pre-emption rights and undertake share buybacks, providing the group with continued flexibility to pursue acquisitions, investments and capital management initiatives.
While most resolutions received overwhelming support, the directors’ remuneration policy attracted the highest level of opposition, with around 14% of votes cast against. However, the measure still passed comfortably, suggesting limited shareholder concern over executive pay arrangements.
The AGM result leaves the company with a fresh mandate to continue its growth strategy following a period of significant expansion. The Property Franchise Group, which operates brands including Belvoir, Hunters and Martin & Co, has grown to become one of the UK’s largest property franchising businesses, with a network of almost 2,000 outlets spanning residential sales, lettings and financial services.
Trading update:
Ahead of yesterday’s AGM, TPFG issued the following trading update:
TPFG continues to trade in line with the Board’s expectations, with the Group benefiting from a resilient, highly cash generative business model underpinned by substantial recurring revenues across both its franchise and licensing divisions. This strong level of recurring income provides good visibility over future earnings and helps mitigate the impact of shorter-term cyclical movements in the housing market.
The Board expects the implementation of the Renters’ Rights Act in May 2026 to increase the regulatory and operational burden on self-managed landlords, creating a meaningful opportunity for professionally managed operators such as TPFG. The Group is already seeing encouraging levels of enquiries from self-managed landlords seeking support with compliance and property management, and the Board believes this represents an attractive medium-term growth opportunity for the Group’s franchise network.
The Group has also continued to make strategic progress against its platform development strategy. During the year to date, TPFG has completed the acquisition of Smart Advice Financial Solutions Ltd, further strengthening the Group’s financial services capabilities. The Group has also made an investment in Meridian HoldCo Limited, the parent of Legal & General Surveying Services Limited, a highly complementary business which broadens the Group’s exposure across the wider property transaction ecosystem. The Board remains encouraged by the strategic opportunities created through the continued development of the platform model and believes this will support long-term earnings quality and diversification, whilst retaining a resilient balance sheet.
The Board remains confident in the Group’s long-term positioning and its ability to deliver on strategic opportunities, whilst continuing to adopt a measured and disciplined approach in light of the broader macroeconomic environment.
Ben Dodds, CFO discusses the update in the following video:
Result of Annual General Meeting
The Property Franchise Group Plc (LON:TPFG) held its Annual General Meeting at 10.00 a.m. today, Thursday 28 May 2026.
All valid proxy votes (whether submitted electronically, or in hard copy form) were included in the poll taken at the meeting.
The table below shows the results of the poll on all 17 resolutions.
|
Resolution |
Votes for |
% of votes cast |
Votes against |
% of votes cast |
Votes withheld |
|
|
1 |
Receive the 2025 Annual Report |
39,674,429 |
100 |
234 |
0 |
18,054 |
|
2 |
Re-elect Ben Dodds |
39,327,901 |
99.12 |
349,142 |
0.88 |
15,674 |
|
3 |
Re-elect Claire Louise Noyce |
39,667,157 |
99.98 |
9,886 |
0.02 |
15,674 |
|
4 |
Re-elect Jon Di-Stefano |
39,665,669 |
99.97 |
11,374 |
0.03 |
15,674 |
|
5 |
Re-elect Michelle Brook |
38,871,686 |
97.97 |
805,357 |
2.03 |
15,674 |
|
6 |
Re-elect Paul George |
39,665,669 |
99.97 |
11,374 |
0.03 |
15,674 |
|
7 |
Re-elect Gareth Samples |
39,669,147 |
99.96 |
16,258 |
0.04 |
7,312 |
|
8 |
Re-elect Paul Latham |
34,812,114 |
97.23 |
990,570 |
2.77 |
3,890,033 |
|
9 |
Re-appoint auditor |
39,681,898
|
99.99 |
3,273 |
0.01 |
7,546 |
|
10 |
Remuneration of auditor |
39,685,171 |
100 |
0 |
0 |
7,546 |
|
11 |
Final dividend |
39,685,405 |
100 |
0 |
0 |
7,312 |
|
12 |
Authority to allot shares |
37,081,284 |
93.46 |
2,595,759 |
6.54 |
15,674 |
|
13 |
Authority to disapply pre-emption rights |
37,107,596 |
93.8 |
2,455,242 |
6.2 |
129,879 |
|
14 |
Additional authority to disapply pre-emption rights (acquisitions and/or investments) |
37,195,845
|
93.8 |
2,456,766 |
6.2 |
40,106 |
|
15 |
Authority to purchase own shares |
33,904,314 |
99.98 |
8,451 |
0.02 |
5,779,952 |
|
16 |
Approve the Directors’ Remuneration Policy |
32,097,525 |
86.32 |
5,087,089 |
13.68 |
2,508,103 |
|
17 |
Approve the Directors’ Remuneration Report |
32,097,593
|
86.32 |
5,087,021 |
13.68 |
2,508,103 |
Notes:
1. Votes ‘Withheld’ are not a vote in law and are not counted in the calculation of the percentage of votes ‘For’ or ‘Against’
2. Resolutions 1 to 14 are ordinary resolutions, resolutions 12 to 15 are special resolutions and resolutions 16 and 17 are non-binding advisory votes
3. The total number of ordinary shares in issue is 63,752,008
4. The Chair voted 38,884 discretionary proxy appointment votes in favour of each of resolutions 1 to 17
