Transfer of Ordinary Shares to EBT

RNS Number : 5352X

FRP Advisory Group PLC

05 January 2022

 

5 January 2022

FRP Advisory Group plc

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

Transfer of Ordinary Shares to EBT

FRP Advisory Group plc, a leading UK professional services firm specialising in advisory services, has been notified that, on 4 January 2022, 3,781,865 ordinary shares of 0.1p each ("Ordinary Shares") in the Company were transferred to JTC Employer Solutions Trustee Limited as trustees of the FRP Advisory Group plc Employee Benefit Trust (the "EBT") for nil consideration, from a former Partner of the Group. 

The EBT is a discretionary trust that was established on IPO for the benefit of employees (including Partners) and operates in connection with the FRP Equity Incentive Plan ("EIP"). It was initially funded via vendor Partners gifting 18,750,000 Ordinary Shares into the EBT on IPO. The EBT has waived its rights to dividends. The Ordinary Shares held by the EBT will be used, in accordance with the EIP, to satisfy awards made to both existing Partners and employees and to incentivise and attract new colleagues. Following the commencement of options vesting from 6 March 2023, Ordinary Shares will be transferred to employees (including Partners) and dividend rights will accrue.

Following the above transaction, the EBT holds a total of 22,531,865 Ordinary Shares representing 9.27 per cent. of the Company's issued share capital.

Enquiries:

FRP Advisory Group plc 

Geoff Rowley, CEO

Jeremy French, COO

Gavin Jones, CFO

Enquiries via MHP

Cenkos Securities plc (Nominated Adviser and Sole Broker)

Katy Birkin/Max Gould (Corporate Finance)

Alex Pollen (Sales)

Tel: [phone]

MHP Communications (Financial Public Relations)

Oliver Hughes

Charlie Barker

Pete Lambie

Tel: [phone]

[e-mail]  

Notes to Editors

FRP is a professional services firm established in 2010 which 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.

· Pensions advisory: pension scheme transaction advisory, pension scheme restructuring advisory, covenant advisory and corporate governance

 

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