Business
Transfer of Ordinary Shares from EBT
Transfer of Ordinary Shares from EBT.
About this update from Frp Advisory Group Plc
[{"type":"text","content":"\n \n \n 10 March 2023\n \n \n \n FRP Advisory Group plc\n \n \n \n (\"FRP\", \"the Company\" or the \"Group\")\n \n \n \n \n \n \n Transfer of Ordinary Shares from EBT\n \n \n \n \n \n \n FRP Advisory Group plc, a leading national specialist business advisory firm, has been notified that, on 9 March 2023, 6,404,790 ordinary shares of 0.1p each in the Company (\"Ordinary Shares\") were transferred from JTC Employer Solutions Trustee Limited as trustees of the FRP Advisory Group plc Employee Benefit Trust (the \"EBT\"), to employees of the Group following the exercise of options over Ordinary Shares at nil cost. \n \n \n \n \n \n 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.\n \n \n \n \n \n Following the above transaction, the EBT holds a total of 21,446,898 Ordinary Shares representing 8.60 per cent. of the Company's issued share capital.\n \n \n \n \n \n \n Purchase of shares by Chief Financial Officer\n \n \n \n \n \n \n As part of the overall above transaction, on 9 March 2023, Gavin Jones, Chief Financial Officer, purchased 68,181 Ordinary Shares at 110 pence per Ordinary Share. Following this transaction, Mr Jones beneficially holds 68,181 Ordinary Shares representing 0.03 per cent of the Company's issued share capital.\n \n \n \n \n \n \n Enquiries:\n \n \n \n \n \n \n \n \n \n FRP Advisory Group plc \n \n \n \n Geoff Rowley, CEO\n \n \n Jeremy French, COO\n \n \n Gavin Jones, CFO\n \n \n Enquiries via MHP\n \n \n \n \n \n \n \n \n Cenkos Securities plc (Nominated Adviser and Joint Broker)\n \n \n \n Katy Birkin/Max Gould (Corporate Finance)\n \n \n Alex Pollen (Sales)\n \n \n Tel: +44 (0) 207 397 8900\n \n \n \n \n \n \n ...