10 March 2023

FRP Advisory Group plc

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

Transfer of Ordinary Shares from EBT

FRP Advisory Group plc, a leading national specialist business advisory firm, has been notified that, on 9 March 2023, 6,404,790 ordinary shares of 0.1p each in the Company ("Ordinary Shares") were transferred from JTC Employer Solutions Trustee Limited as trustees of the FRP Advisory Group plc Employee Benefit Trust (the "EBT"), to employees of the Group following the exercise of options over Ordinary Shares at nil cost. 

The EBT is a discretionary trust that was established on IPO for the benefit of employees (including Partners) and operates in connection with the FRP Equity Incentive Plan ("EIP"). It was initially funded via vendor Partners gifting 18,750,000 Ordinary Shares into the EBT on IPO. The EBT has waived its rights to dividends. The Ordinary Shares held by the EBT will be used, in accordance with the EIP, to satisfy awards made to both existing Partners and employees and to incentivise and attract new colleagues. Following the commencement of options vesting from 6 March 2023, Ordinary Shares will be transferred to employees (including Partners) and dividend rights will accrue.

Following the above transaction, the EBT holds a total of 21,446,898 Ordinary Shares representing 8.60 per cent. of the Company's issued share capital.

Purchase of shares by Chief Financial Officer

As part of the overall above transaction, on 9 March 2023, Gavin Jones, Chief Financial Officer, purchased 68,181 Ordinary Shares at 110 pence per Ordinary Share. Following this transaction, Mr Jones beneficially holds 68,181 Ordinary Shares representing 0.03 per cent of the Company's issued share capital.

Enquiries:

FRP Advisory Group plc  

Geoff Rowley, CEO

Jeremy French, COO

Gavin Jones, CFO

Enquiries via MHP

Cenkos Securities plc (Nominated Adviser and Joint Broker)

Katy Birkin/Max Gould (Corporate Finance)

Alex Pollen (Sales)

Tel: +44 (0) 207 397 8900

Investec Bank plc (Joint Broker)

Carlton Nelson / James Rudd (Corporate Broking)

Tel: +44 (0) 207 597 4000

MHP Group (Financial Public Relations)

Oliver Hughes

Charlie Barker

Pete Lambie

Tel: +44 (0) 3128 8540 / +44 (0) 20 3128 8570

[email protected] 

Notes to Editors

FRP is a leading national specialist business advisory firm established in 2010. It offers a range of 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.  

·        Financial advisory: transaction services including financial due diligence, alongside its lender services, financial modelling, valuations, pensions and company-side advisory services.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM