23rd September
2024
FRP Advisory Group
plc
("FRP",
"the Company" or the "Group")
Award of Share Options / PDMR
Notification
FRP Advisory Group plc,
a leading national specialist business advisory
firm, announces that on 20 September 2024,
the Company granted Gavin Jones, the Company's Chief Financial
Officer, 242,906 nil-cost options over ordinary shares of £0.001
each in the Company ("Ordinary Shares") under the Company's
Employee Incentive Plan (EIP) (the "Award"). The Award has a value
set at 150% of Mr Jones' salary.
100% of this Award is subject to
meeting two, three-year performance conditions set by the
Remuneration Committee. 50% of this portion of the Award will be
subject to a compound annual adjusted EPS growth performance
target, using the financial year end 30 April 2024 adjusted EPS of
9.9p as a baseline. The other 50% of this portion of the Award will
be subject to a total shareholder return performance condition,
using 119p as the baseline (being the closing mid-market price of
the Ordinary Shares on 30 April 2024).
The Award will normally vest,
subject to the meeting of performance conditions as applicable,
during or shortly after 30 July 2027. The Award lapses on the tenth
anniversary from the date of grant.
Notification and public
disclosure of transactions by persons discharging managerial
responsibilities and persons closely associated with
them:
|
1
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
a.
|
Name of PDMR
|
Gavin Jones
|
|
2
|
Reason for
notification
|
|
a.
|
Position/Status
|
Chief Financial Officer
|
|
b.
|
Initial notification/
Amendment
|
Initial Notification
|
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
a.
|
Name
|
FRP Advisory Group plc
|
|
b.
|
LEI
|
213800IPCG6DE1CVLY36
|
|
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
Identification Code
|
Ordinary shares of £0.001 each
GB00BL9BW044
|
|
b.
|
Nature of the transaction
|
Award of nil-cost options over Ordinary
Shares
|
|
c.
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s)
|
|
GBP - nil
|
242,906
|
|
d.
|
Aggregated information
- Aggregated Volume
- Price
|
N/A single
transaction
N/A single transaction
|
|
e.
|
Date of the transaction
|
20 September 2024
|
|
f.
|
Place of the transaction
|
XOFF
|
Enquiries:
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.