Business
Acquisition of APP in Cyprus
Acquisition of APP in Cyprus.
About this update from Frp Advisory Group Plc
[{"type":"text","content":"\n \n \n 7 December 2022\n \n \n \n FRP ADVISORY GROUP PLC\n \n \n \n (\"FRP\", the \"Group\" or the \"Company\")\n \n \n \n \n \n \n \n Acquisition of APP in Cyprus\n \n \n \n \n \n FRP Advisory Group plc, a leading national specialist business advisory firm, is pleased to announce the acquisition of APP*; who are based\n in\n Limassol, Cyprus and provide advisory, tax and audit services. The firm's Directors, Augoustinos Papathomas and Christina Papathomas will join FRP as Partners. The rest of the APP team will also join FRP, comprising fourteen colleagues and one consultant.\n \n \n \n \n \n \n \n \n Geoff Rowley, CEO of FRP, said:\n \n \n \"We have known and worked with the team at APP for many years. They share our values, are experts in their field and focus on providing the highest quality services to their clients. This combination lays strong foundations for future growth, and we're pleased to welcome Augoustinos, Christina and the team to FRP. I have no doubt they will make a significant contribution to the business and look forward to supporting them as they continue to grow. The acquisition further strengthens our international presence and supports our work with global advisory organisation Eight International, enabling us to better support our clients on international matters.\"\n \n \n \n \n \n \n \n Augoustinos Papathomas, founder and Senior Director of APP, said:\n \n \"\n \n We are thrilled to be joining FRP. We have worked with the team for the last few years, and this cements what has been a fantastic working relationship. We are excited by the new growth opportunities this represents, whilst enabling us to continue to provide our existing clients with an industry leading level of service and creating employment opportunities for exceptional talent across Cyprus and beyond.\"\n \n \n \n \n \n \n 321,226 new ordinary shares\n (the \"Consideration Shares\")\n are to be issued as part of the transaction 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 16 December 2022. Following Admission,\n the Company will...