Business
Transfer of Ordinary Shares to EBT
Transfer of Ordinary Shares to EBT.
About this update from Frp Advisory Group Plc
[{"type":"text","content":"\n \n \n 21 June 2022\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 to EBT\n \n \n \n \n \n \n FRP Advisory Group plc, a leading national specialist business advisory firm, has been notified that, on 21 June 2022, 4,412,176 ordinary shares of 0.1p each in the Company (\"Ordinary Shares\") 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. \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 26,944,041 Ordinary Shares representing 10.82 per cent. of the Company's issued share capital.\n \n \n \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 Sole 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 \n \n MHP Communications (Financial Public Relations)\n \n \n \n Oliver Hughes\n \n \n Charlie Barker\n \n \n Pete Lambie\n \n \n Tel: +44 (0) 3128 8540 / +44 (0) 20 3128 8570\n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n Notes to Editors\n \n \n 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 ...