Result of AGM

FRP Advisory Group PLC

28 September 2023

 

28 September 2023

FRP Advisory Group plc

("FRP" or the "Company")

Result of Annual General Meeting

The Annual General Meeting of FRP c was held at the offices of Bryan Cave Leighton Paisner LLP, Governor's House, 5 Laurence Pountney Hill, London, EC4R 0BR on 28 September 2023 at 10.00 a.m.

All 16 resolutions put to members were passed on a poll. Resolutions 1 to 13 were passed as ordinary resolutions and resolutions 14 to 16 were passed as special resolutions.

The number of votes cast for and against each of the resolutions proposed, and the number of votes withheld were as follows:

Resolution	Votes for	%	Votes against	%	Votes withheld
Ordinary Resolutions
Resolution 1 To receive the Company's audited accounts for the financial period ended 30 April 2023 together with the Directors' and Auditors' Report.	160,269,603	99.99	16,539	0.01	11,059
Resolution 2 To receive the Directors' Remuneration Report for the financial period ended 30 April 2023.	128,641,741	80.26	31,646,780	19.74	8,680
Resolution 3 To re-appoint Nigel Guy as a director of the Company.	153,571,003	95.81	6,715,139	4.19	11,059
Resolution 4 To re-appoint Geoffrey Rowley as a director of the Company.	160,269,445	99.99	16,697	0.01	11,059
Resolution 5 To re-appoint Jeremy French as a director of the Company.	157,397,800	98.2	2,888,342	1.8	11,059
Resolution 6 To re-appoint Gavin Jones as a director of the Company.	157,397,800	98.2	2,888,342	1.8	11,059
Resolution 7 To re-appoint Claire Balmforth as a director of the Company.	153,314,102	95.65	6,974,419	4.35	8,680
Resolution 8 To re-appoint David Chubb as a director of the Company.	159,516,095	99.52	770,047	0.48	11,059
Resolution 9 To appoint Kathryn Fleming as a director of the Company.	160,269,603	99.99	16,539	0.01	11,059
Resolution 10 To re-appoint Mazars LLP as the Company's auditors.	159,476,225	99.52	774,317	0.48	46,659
Resolution 11 To authorise the directors of the Company to determine the Auditors' fees.	160,229,575	99.96	56,567	0.04	11,059
Resolution 12 To declare a final dividend of 2.05p per ordinary share for the year ended 30 April 2023.	160,271,982	99.99	16,539	0.01	8,680
Resolution 13 To authorise the Directors to allot equity securities.	152,098,184	94.89	8,187,958	5.11	11,059
Special Resolutions
Resolution 14 To empower the Directors to allot equity securities for cash free of statutory pre-emption rights.	155,383,045	96.94	4,903,097	3.06	11,059
Resolution 15 To empower the Directors to allot equity securities for cash otherwise than on a pre-emptive basis for an acquisition or other capital investment.	143,464,477	96.7	4,903,097	3.3	11,929,627
Resolution 16 To empower the Directors to make market purchases of the Company's shares.	158,966,271	99.52	770,047	0.48	560,883

The Directors note the significant vote against Resolution 2. The Remuneration Committee chair has been in contact with certain external shareholders to understand shareholder concerns and explain the Company's position. The feedback received will be taken into consideration in remuneration-related decisions and disclosures in relation to the current financial year.

As at 28 September 2023, there were 250,932,590 ordinary shares in issue. Shareholders are entitled to one vote per share. Votes withheld are not votes in law and so have not been included in the calculation of the proportion of votes for and against a resolution.

The full text of each resolution is available in the Notice of Annual General Meeting, published on the Company's website at www.frpadvisory.com/investors/financials-documents/.

Enquiries:

FRP Advisory Group plc                                                                     

Geoff Rowley, CEO

Jeremy French, COO

Gavin Jones, CFO

Enquiries via MHP

Cavendish Securities plc (Nominated Adviser and Joint Broker)

Katy Birkin/Stephen Keys (Corporate Finance)

Tel: [phone]

Investec Bank plc (Joint Broker)

Carlton Nelson / James Rudd (Corporate Broking)

Tel: [phone]

MHP Communications (Financial Public Relations)

Oliver Hughes

Charlie Barker

Catherine Chapman

Tel: [phone]

[e-mail] 

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. 

 

END