Result of Secondary Placing
FRP Advisory Group PLC announced the successful completion of its secondary placing, placing 4,916,332 ordinary shares at 115 pence per share, a 0.9% discount to the previous day's closing price of 116 pence. The placing was heavily oversubscribed, allowing both Non Locked-In and Locked-In shareholders the opportunity to sell shares, with no participation from directors or senior management. The company welcomed a new blue-chip institutional shareholder, indicating continued support for profitable growth.
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PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.
IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF CERTAIN MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION, AS PERMITTED BY MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.
FRP ADVISORY GROUP PLC
("FRP", the "Group" or the "Company")
Result of Secondary Placing
FRP Advisory Group plc, a leading national specialist business advisory firm, is pleased to announce the result of the proposed secondary placing of Ordinary Shares announced yesterday.
A total of 4,916,332 Placing Shares have been placed under the Placing with new and existing institutional investors at a placing price of 115 pence per Placing Share ("Placing Price"), with the Selling Shareholders having sold, in aggregate, 4,916,332 Placing Shares. The Placing was heavily oversubscribed. The Placing Price represents a narrow discount of 0.9% to the closing price of 116 pence per ordinary share on 5 August 2026, being the latest practicable date prior to this announcement.
As outlined in the announcement released yesterday, following a consultation process, all Non Locked-In Shareholders and Locked-In Shareholders were given the opportunity to sell Ordinary Shares as part of the Placing. The Company confirms that none of Geoff Rowley, Jeremy French, Gavin Jones or any other director or member of senior management participated in the Placing. As stated in the Company's announcement of 27 April 2026, the Company confirms that any future liquidity arrangements for the Locked-In Shareholders would only occur at times when the Company considers there to be sufficient buying demand to maintain an orderly market.
Unless otherwise defined herein, capitalised terms used in this announcement have the meanings given to them in the Company's announcement made on 5 August 2026.
Geoff Rowley, Chief Executive Officer of FRP Advisory Group plc, commented:
"As a Board we are pleased that the Placing has enabled an orderly process through which Non Locked-In shareholders, whose lock-in arrangements expired on 31 July 2026, and Locked-In shareholders (given the excess demand) have had the opportunity to sell shares.
The Board is pleased by the support for the Placing received from its existing shareholders and this exercise has enabled us to welcome another new blue-chip institutional shareholder to our register. We look forward to continued profitable growth with their support."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.