REG - FRP Advisory Grp PLC - Acquisition of WilliamsAli Corporate Finance

Frp AdvisoryAnnouncement

04/09/2024 07:00

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RNS Number : 7899C  FRP Advisory Group PLC  04 September 2024

4(th) September 2024

FRP ADVISORY GROUP PLC

("FRP", the "Group" or the "Company")

 

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.

 

Enquiries:

 

FRP Advisory Group plc
 

Geoff Rowley, CEO

Jeremy French, COO

Gavin Jones, CFO

Enquiries via MHP

 

Cavendish Capital Markets Limited (Nominated Adviser and Joint Broker)

Katy Birkin/ Stephen Keys/George Lawson (Corporate Finance)

Tel: +44 (0) 207 220 0500

 

Investec Bank plc (Joint Broker)

Carlton Nelson / James Rudd (Corporate Broking)

Tel: +44 (0) 207 597 4000

 

MHP Group (Financial Public Relations)

Oliver Hughes

Eleni Menikou

Catherine Chapman

Tel: +44 (0)7711 191518

FRP@mhpgroup.com (mailto:FRP@mhpgroup.com)

 

Notes to Editors

FRP is a leading national specialist business advisory firm established in
2010. It offers a range of advisory services to companies, lenders, investors
and other stakeholders, as well as individuals. These services include:

 * Restructuring advisory: corporate financial advisory, formal insolvency
appointments, informal restructuring advisory, personal insolvency and general
advice to all stakeholders.

 * Corporate finance: mergers & acquisitions (M&A), strategic advisory
and valuations, financial due diligence, capital raising, special situations
M&A and partial exits.

 * Debt advisory: raising and refinancing debt, debt amendments and extensions,
restructuring debt, asset based lending and corporate and leveraged debt
advisory.

 * Forensic services: forensic investigations, compliance and risk advisory,
dispute services and forensic technology.

 * Financial advisory: transaction services including financial due diligence,
lender services, financial modelling, valuations, pensions and company-side
advisory services.

 

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