Frenkel Topping Group plc
("Frenkel Topping" or "the Company")
PCA Dealing & Concert Party Update
Frenkel Topping Group plc (AIM: FEN) announces that FCFM Group Limited ("FCFM"), a firm of which Jason Granite is a director and substantial shareholder, on Friday 15 September 2017, purchased 4,064,209 ordinary shares of 0.5p each in the capital of the Company ("Ordinary Shares") and IPGL Limited ("IPGL"), a party connected with FCFM Group Limited and Jason Granite, also purchased 4,064,210 Ordinary Shares from Helium Special Situations Fund ("Helium SSF") at a price of 50 pence per Ordinary Share ("Transaction").
Consequently, certain of the respective shareholdings of the concert party ("Concert Party") as announced on 05 July 2017 have changed although the total number of Ordinary Shares held by the Concert Party remains unchanged at 33.15% of the total voting rights of the Company.
The respective holdings of each Concert Party member following the Transaction are outlined in the table below.
Shareholder |
Number of shares |
Percentage shareholding |
Jason Granite |
744,772 |
0.95% |
FCFM Group Limited |
9,712,841 |
12.35% |
Phil Cammerman |
20,179 |
0.03% |
Incap Finance BV |
4,888,773 |
6.22% |
IPGL Limited |
7,151,982 |
9.09% |
Helium SSF |
3,555,228 |
4.52% |
Total |
26,073,775 |
33.15% |
The approval of the Takeover Panel was obtained prior to the above transaction being consummated.
As a consequence of the Concert Party holding in aggregate not less than 30 per cent., but not holding more than 50 per cent., of the Company's issued share capital, should any member of the Concert Party or any person acting in concert with any member of the Concert Party acquire an interest in any shares which increases the percentage of shares carrying voting rights in such company in which the Concert Party (or any person acting in concert with the Concert Party) is interested, that person together with people acting in concert with that person will normally be required to make a general offer in cash to all shareholders in the Company, at the highest price paid by that person or any person acting in concert with that person for an interest in such shares within the preceding 12 months, for all the remaining equity share capital of that company.
For further information:
About Frenkel Topping: www.frenkeltopping.co.uk
Frenkel Topping provides specialist independent financial advice focussed on asset protection for clients. The specialist independent financial adviser has a market leading position providing advice and fund management services for personal injury trusts and clinical negligence awards and is well placed to provide services to a wider customer base.
The Company provides a range of wealth management services including bespoke investment portfolios, financial and tax planning. It is focused on increasing its assets under management by growing the number of fee earners who are qualified to provide benefits protection for a variety of needs as the Company adds to its personal injury and clinical negligence specialism.
It has a national presence with offices in Manchester, Birmingham, Cardiff, London and Leeds and has relationships and infrastructure in place to further grow its reach and target markets.
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
1. |
Details of the person discharging managerial responsibilities / person closely associated |
a) |
Name |
FCFM |
2. |
Reason for the Notification |
a) |
Position/status |
Entity of which Jason Granite, Executive Chairman and CIO of the Company is a director |
b) |
Initial notification/Amendment |
Initial notification |
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name |
Frenkel Topping Group plc |
b) |
LEI |
n/a |
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
a) |
Description of the Financial instrument, type of instrument |
Ordinary Shares of 0.5p |
|
Identification code |
GB00B01YXQ71 |
b) |
Nature of the transaction |
Purchase of Ordinary Shares |
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
50p |
4,064,209 |
|
d) |
Aggregated information: ·Aggregated volume ·Price |
4,064,209 Ordinary Shares of 0.5p pence each bought at 50 pence per Ordinary Share |
e) |
Date of the transaction |
15 September 2017 |
f) |
Place of the transaction |
London Stock Exchange, AIM Market (XLON) |
