11 March 2024

FRP ADVISORY GROUP PLC

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

Acquisition of GWC in the Isle of Man

FRP Advisory Group plc, a leading national specialist business advisory firm, is pleased to announce the acquisition of GWC* based in Douglas, which provides advisory and insolvency services across the Isle of Man. The firm's owner, Gordon Wilson will join FRP as a Partner. The rest of the GWC team comprising eight colleagues will also join FRP.

The acquisition is the Group's eighth since IPO in March 2020. FRP's strategy is to generate sustainable profitable growth by combining a focus on organic growth with acquisitions that meet the Group's selective criteria. This approach enables the Group to increase market share, broaden the service offering to clients and expand its geographical footprint.

Geoff Rowley, FRP CEO said:

"We're delighted to welcome Gordon, Kathleen and the team to FRP, further strengthening our offshore and international presence. This follows the acquisition of APP in Cyprus in 2022 and supports our work with global advisory organisation Eight International, enabling us to better support our clients on international matters. Having worked with the team at GWC for several years, we know they share our values and are experts in their field, focusing on providing the highest quality service to their clients. I have no doubt they will make a positive contribution to the business as they continue to grow in the Isle of Man."

Gordon Wilson of GWC, said:

"We're excited to be joining FRP. We have worked with the team for the last few years, and this cements what has been a fantastic working relationship. We are looking forward to growing and developing the business in the Isle of Man to make it the leading restructuring firm on the Island. This will enable us to continue to provide our existing and new clients with an industry-leading level of service, as well as access to FRP's wider offering. The investment in our firm from FRP is a strong endorsement of the Isle of Man market and will create employment opportunities for exceptional talent across the island and beyond."

Given the proximity to the Company's 30 April 2024 year end, contributions from the GWC acquisition are not expected to alter market expectations for this financial year.

444,445 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 13 March 2024. Following Admission, the Company will have 251,377,035 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.

* GWC consists of two entities: GW Holdings Ltd and Gordon Wilson & Co Ltd

Enquiries:

FRP Advisory Group plc                                                                     

Geoff Rowley, CEO

Jeremy French, COO

Gavin Jones, CFO

Enquiries via MHP

Cavendish Capital Markets Limited (Nominated Adviser and Joint Broker)

Katy Birkin/Stephen Keys/George Lawson (Corporate Finance)

Tel: +44 (0) 207 220 0500

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.