4th September
2024
FRP ADVISORY GROUP
PLC
("FRP",
the "Group" or the "Company")
Acquisition of WilliamsAli Corporate Finance
FRP Advisory Group plc,
a leading national specialist business advisory
firm, is pleased to announce the
acquisition of Williams Ali CF Limited ("WilliamsAli") based in
Newcastle which provides corporate finance services to clients both
in the North East and nationwide (the "Acquisition"). The firm's
two Directors and Founders, Abu Ali and Phil Williams, will join
FRP as Partners. All other members of the WilliamsAli team,
comprising five colleagues will also join FRP.
The Acquisition is in line with
FRP's strategy 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 its service offering to clients and
expand its geographical footprint. The acquisition is the Group's
eleventh since IPO in March 2020.
Geoff Rowley, CEO of FRP Advisory said:
"This
Acquisition complements FRP's existing strong presence in the North
East in a target region for the expansion of our Corporate Finance
offering. We are pleased to welcome Abu, Phil and the team, which
will now go to market locally as FRP Corporate Finance, to the
business. Our new colleagues share our values and ambitions, and
will no doubt make a strong contribution as we continue to
grow."
Abu
Ali, joint founder of WilliamsAli, said:
"Phil and I are delighted to be joining FRP Corporate Finance.
We are incredibly proud of the track record of WIlliamsAli in the
North East market to-date, and we are excited about how we can
further build on this within the FRP Group.
With the additional infrastructure, resources, and service
lines now available to us, together with closely aligned values, we
are confident this will be a hugely positive move for our team and
clients in the North East region".
331,126 new ordinary shares (the
"Consideration Shares") are to be issued as part of the Acquisition
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 9
September 2024. Following the issue of the Consideration Shares the
Company will have 255,014,886 ordinary shares in issue
with each ordinary share carrying the right to one
vote and no ordinary shares held in treasury. 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.
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
Group (Financial Public Relations)
Oliver Hughes
Eleni Menikou
Catherine Chapman
Tel: +44 (0)7711 191518
FRP@mhpgroup.com
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.