FRP Advisory Group PLC AGM Statement (2558N)
29 September 2021 - 4:00PM
UK Regulatory
TIDMFRP
RNS Number : 2558N
FRP Advisory Group PLC
29 September 2021
29 September 2021
FRP Advisory Group plc
("FRP", the "Company" or the "Group")
AGM Statement
FRP Advisory Group plc, a leading UK specialist business
advisory firm is today holding its Annual General Meeting. Nigel
Guy, Non-Executive Chairman, will make the following statement:
"The UK market remains highly liquid and pent-up capital
continues to be deployed by both corporate buyers and private
equity firms. FRP Corporate Finance, enhanced by the two
acquisitions, have a very healthy pipeline and have closed 32
transactions in the period (across lead advisory and debt advisory)
with a combined value of GBP901m. These include FRP acting as:
-- sell side adviser to musical instrument retailer GAK on its
successful management buyout following an investment from Risk
Capital Partners;
-- buy side adviser to private equity firm Livingbridge, who
acquired leading social media publisher Jungle Creations;
-- sell side adviser to Insurtech firm Ignite Software Solutions
on their sale to Sequel, owned by Nasdaq listed data analytics
Verisk group.
Although the UK has started to move on beyond the major
constraints of the Covid 19 pandemic, the ongoing economic
consequences are evident. We are seeing supply chain disruption and
rising costs of energy, raw materials and wages which create a
challenging environment for businesses. In recent months we have
been engaged to provide both advisory and formal restructuring
services across a range of sectors including civil engineering,
manufacturing, car parking services, commodity trading, energy and
financial services. We expect that many sectors will require our
expertise as the full effect of the unwinding of government support
coupled with the wider economic headwinds are felt.
Overall trading in our current financial year, from 1 May 2021
to date, remains in line with the Board's expectations. FRP is a
resilient business, with a track record of growth regardless of
economic conditions. We have a strong balance sheet and a structure
that provides a good level of flexibility in our internal capacity
nationally, allowing us to be well positioned to service an
increase in demand for our advice from diversified sources.
In line with the Company's quarterly dividend policy, the Board
is pleased to declare an interim dividend of 0.8p per eligible
ordinary share for the first quarter ended 31 July 2021. The
dividend will be paid on 24 December 2021 to shareholders on the
register on 26 November 2021.
The Company expects to announce a trading update covering the
first half to 31 October 2021 in mid November 2021."
Enquiries:
FRP Advisory Group plc
Geoff Rowley, CEO
Jeremy French, COO
Gavin Jones, CFO
Enquiries via MHP
Cenkos Securities plc (Nominated Adviser and Sole Broker)
Katy Birkin/Max Gould (Corporate Finance)
Alex Pollen (Sales)
Tel: +44 (0) 207 397 8900
MHP Communications (Financial Public Relations)
Oliver Hughes
Charlie Barker
Pete Lambie
Tel: +44 (0) 203 128 8778
FRP@mhpc.com
Notes to Editors
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 individuals. These
services include:
-- Corporate finance: mergers & acquisitions (M&A),
strategic advisory and valuations, financial due diligence, capital
raising, special situations M&A and partial exits.
-- Restructuring advisory: corporate financial advisory, formal
insolvency appointments, informal restructuring advisory, personal
insolvency and general advice to all stakeholders.
-- 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.
-- Pensions advisory: pension scheme transaction advisory,
pension scheme restructuring advisory, covenant advisory and
corporate governance
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
AGMSEUFEAEFSELU
(END) Dow Jones Newswires
September 29, 2021 02:00 ET (06:00 GMT)
Frp Advisory (LSE:FRP)
Historical Stock Chart
From Mar 2024 to Apr 2024
Frp Advisory (LSE:FRP)
Historical Stock Chart
From Apr 2023 to Apr 2024