28 April 2022

FRP ADVISORY GROUP PLC

("FRP", the "Group" or the "Company")

Acquisition of BridgeShield Asset Management Limited

FRP Advisory Group plc, a leading national specialist business advisory firm, is pleased to announce the acquisition of BridgeShield Asset Management Limited. ("BridgeShield")

Founded in 2014, BridgeShield provides Property Asset Management advisory services to specialist lenders nationally from its office in Leigh-on-Sea, Essex.

BridgeShield's Directors, Ben Hubbard and Nick McAuliffe will join FRP as Partners. The rest of the team will also join FRP, including three colleagues and two consultants.

Geoff Rowley, FRP CEO said: "Ben and Nick have built a great business and have worked with FRP for many years. They share our values and will be able to accelerate their growth by joining the Group. We will benefit from expanding our service offering to cover Asset Management services to specialist lenders and welcome the team to FRP."

Ben Hubbard, founder of BridgeShield, said: "We are delighted to be joining FRP with whom we have worked for the last five years and this cements what has been a fantastic working relationship.  We are genuinely excited by the new growth opportunities this represents, whilst enabling us to continue to provide our existing clients with an industry leading level of service"

393,700 new ordinary shares (the "Consideration Shares") are to be issued as part of the transaction with application to be made to trading on the AIM market of the London Stock Exchange ("Admission"). The Consideration Shares will rank pari passu with the Company's existing ordinary shares. It is expected that Admission of the Consideration Shares will become effective and that dealings will commence at 8.00 a.m. on 4 May 2022. Following Admission, the Company will have 243,585,189 ordinary shares in issue with each ordinary share carrying the right to one vote.  The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Enquiries:

FRP Advisory Group plc                                                                     

Geoff Rowley, CEO

Jeremy French, COO

Gavin Jones, CFO

Enquiries via MHP

Cenkos Securities plc (Nominated Adviser and Sole Broker)

Katy Birkin/Max Gould (Corporate Finance)

Alex Pollen (Sales)

Tel: +44 (0) 207 397 8900

MHP Communications (Financial Public Relations)

Oliver Hughes

Charlie Barker

Pete Lambie

Tel: +44 (0) 20 3128 8570

[email protected] 

Notes to Editors

FRP is a professional services firm established in 2010 which offers a range of specialist advisory services to companies, lenders, investors and other stakeholders, as well as individuals. These services include:

·      Restructuring advisory: corporate financial advisory, formal insolvency appointments, informal restructuring advisory, personal insolvency and general advice to all stakeholders.

·      Corporate finance: mergers & acquisitions (M&A), strategic advisory and valuations, financial due diligence, capital raising, special situations M&A and partial exits.

·      Debt advisory: raising and refinancing debt, debt amendments and extensions, restructuring debt, asset based lending and corporate and leveraged debt advisory.

·      Forensic services: forensic investigations, compliance and risk advisory, dispute services and forensic technology.

·      Pensions advisory: pension scheme transaction advisory, pension scheme restructuring advisory, covenant advisory and corporate governance