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FRP Advisory Group PLC announced on 27 April 2026 that Geoff Rowley, Jeremy French, and other Partner Shareholders entered into new lock-in deeds on 25 April 2026. These deeds replace prior agreements from 23 May 2024, which were due to expire on 31 July 2026. Approximately 47.1 million Ordinary Shares, representing 18.2% of the Company's issued share capital, are now subject to these deeds, with Partner Shareholders agreeing not to dispose of them until 1 September 2031.
| Date | 27 Apr 2026 |
| Time | 07:00:10 |
| Category | Miscellaneous |
| ID | 9227B |
27 April 2026
FRP ADVISORY GROUP PLC
("FRP", the "Group" or the "Company")
Shareholder lock-ins
FRP Advisory Group plc, a leading national specialist business advisory firm, announces that Geoff Rowley and Jeremy French, together with existing and former Partners of the Company (together "Partner Shareholders"), entered into lock-in deeds with the Company on 25 April 2026 ("Lock-In Deeds").
Pursuant to the terms of the Lock-In Deeds, the Partner Shareholders have agreed, save in accordance with the liquidity arrangements described below and in other limited circumstances, not to dispose of ordinary shares of £0.001 each in the Company ("Ordinary Shares") until 1 September 2031 (the "End Date").
The Lock-In Deeds entered into on 25 April 2026 by the Partner Shareholders replace the lock-in agreements they entered into on 23 May 2024 and which were due to expire on 31 July 2026. The number of Ordinary Shares subject to these Lock-In Deeds is approximately 47.1 million Ordinary Shares, representing approximately 18.2 per cent. of the Company's issued share capital.
The Company recognises the importance of appropriately incentivising existing and future Partners of the Group and enabling them to benefit from the value that they have created, and that former Partners wish to realise their investment in the Company in due course. Accordingly, during the term of the Lock-In Deeds, the Company intends that there will be managed sell-downs at times when the Company considers there to be sufficient buying demand to maintain an orderly market. The Company continues to view the Company's Employee Benefit Trust ("EBT") as an important part of the Group's remuneration strategy and as a mechanism to ensure the appropriate distribution of Ordinary Shares across the partnership group. It may be that the EBT will be a purchaser of shares in future managed sell-downs. The EBT currently holds approximately 8.8 million Ordinary Shares.
The information contained within this announcement is deemed by the Group to constitute inside information for the purposes of Article 7 of Regulation (EU) 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
The person responsible for arranging the release of this announcement on behalf of the Company is Gavin Jones, Chief Financial Officer of the Company.
Enquiries:
FRP Advisory Group plc
Geoff Rowley, CEO
Jeremy French, COO
Gavin Jones, CFO
Enquiries via Citypress
Cavendish Capital Markets Limited (Nominated Adviser and Joint Broker)
Stephen Keys / George Lawson / Elysia Bough (Corporate Finance)
Tel: +44 (0) 207 220 0500
Berenberg (Joint Broker)
Toby Flaux / James Thompson / Smruthya Ganeshram
Tel: +44 (0) 203 207 7800
Citypress (Financial Public Relations)
Martin Currie / Jamie Williamson
Tel: +44 (0)7976291532 / +44 (0)7908 536 423.
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: