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.