Begbies Regulatory News (BEG)

6 July 2020

Begbies Traynor Group plc

Eddisons secures increased funding for school improvement projects

Eddisons, the property advisory and transactional services division of Begbies Traynor Group plc, is pleased to announce a 50% increase in the funding it has secured for clients from the Department of Education's Condition Improvement Fund ("CIF").

Under the CIF, applicants in the education sector, including schools, colleges and trust buildings, can bid on an annual basis for capital funding to improve their buildings, keep their facilities safe, secure and in good condition, or for expansion projects.

Whilst the decision on the funding had been delayed due to COVID-19, we are delighted to have increased the funding we have secured for our clients in this CIF round to £28m, up by 50% compared to last year. The projects will commence shortly, with project management and consultancy fees for the group of £2.2m compared to £1.3m last year. The team are now developing plans to complete the projects in the coming months safely and within social distancing guidelines.

Anthony Spencer, Managing Partner of Eddisons, commented:

"Our success in accessing funding for our clients through this CIF funding round is great news for pupils and teachers who will benefit from improvements in their local schools and reinforces our reputation as one of the leading advisors in the education sector.

"This leaves us well placed to assist schools and colleges to plan and manage their capital investment programmes following the recent announcement from the prime minister regarding commitments to government funding for school enhancements."

Enquiries please contact:

Begbies Traynor Group plc 0161 837 1700

Ric Traynor - Executive Chairman

Nick Taylor - Group Finance Director

Canaccord Genuity Limited 020 7523 4588

(Nominated Adviser and Joint Broker)

David Tyrrell / Sunil Duggal

Shore Capital 020 7408 4090

(Joint Broker)

Mark Percy / Anita Ghanekar

MHP Communications 07734 769359

Reg Hoare / Katie Hunt

Notes to editors

Begbies Traynor Group plc is a leading business recovery, financial advisory and property services consultancy, providing services nationally from a comprehensive network of UK locations. The group has 740 staff and partners and the professional staff include licensed insolvency practitioners, accountants, chartered surveyors and lawyers.

The group's services include:

· Corporate and personal insolvency - we handle the largest number of corporate appointments in the UK, principally serving the mid-market and smaller companies.

· Financial advisory - business and financial restructuring, debt advisory, forensic accounting and investigations, due diligence and transactional support.

· Corporate finance - buy and sell side support on corporate transactions.

· Valuations - valuation of property, businesses, machinery and business assets.

· Property consultancy, planning and management - building consultancy, commercial property management, specialist insurance and vacant property risk management, transport planning and design.

· Transactional services - sale of property, machinery and other business assets through physical and online auctions; business sales agency; commercial property agency focussed on northern and eastern England.