15 August 2023

FRP Advisory Group plc

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

Award of Share Options / PDMR Notification 

FRP Advisory Group plc, a leading national specialist business advisory firm, announces that on 15 August 2023, the Company granted Gavin Jones, the Company's Chief Financial Officer, 236,345 nil-cost options over ordinary shares of £0.001 each in the Company ("Ordinary Shares") under the Company's Employee Incentive Plan (EIP) (the "Award"). The Award has a value set at 125% of Mr Jones' salary.

80% of this Award (being 100% of salary) is subject to meeting two, three-year performance conditions set by the Remuneration Committee. 50% of this portion of the Award will be subject to a compound annual adjusted EPS growth performance target, using FY 30 April 2023 adjusted EPS of 7.8p as a baseline. The other 50% of this portion of the Award will be subject to a total shareholder return performance condition, using 108.5p as the baseline (being the closing mid-market price of the Ordinary Shares on 30 April 2023).

20% of the Award (25% of salary) is granted without performance conditions.

The Award will normally vest, subject to the meeting of performance conditions as applicable, during or shortly after 30 July 2026. The Award lapses on the tenth anniversary from the date of grant.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:

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)

Tel: +44 (0) 207 397 8900

Investec Bank plc (Joint Broker)

Carlton Nelson / James Rudd (Corporate Broking)

Tel: +44 (0) 207 597 4000

MHP Communications (Financial Public Relations)

Oliver Hughes

Charlie Barker

Catherine Chapman

Tel: +44 (0) 783 462 3818

[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, lender services, financial modelling, valuations, pensions and company-side advisory services.