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31 Aug 2022 09:00
31 August 2022
FRP Advisory Group plc
("FRP", "the Company" or the "Group")
Award of Share Options / PDMR Notification
FRP Advisory Group plc, a leading UK professional services firm specialising in advisory services, announces that on 31 August 2022, the Company granted Gavin Jones, the Company's Chief Financial Officer, 155,764 nil-cost options over ordinary shares of £0.001 each in the Company ("Ordinary Shares") under the Company's Employee Incentive Plan (EIP) (the "Award"). The Award has a value set at 125% of Mr Jones' salary.
80% of this Award (being 100% of salary) is subject to meeting two, three-year performance conditions set by the Remuneration Committee. 50% of this portion of the Award will be subject to a compound annual adjusted EPS growth performance target, using FY 30 April 2022 adjusted EPS of 7.57p as a baseline. The other 50% of this portion of the Award will be subject to a total shareholder return performance condition, using 127p as the baseline (being the closing mid-market price of the Ordinary Shares on 30 April 2022).
20% of the Award (25% of salary) is granted without performance conditions.
The Award will normally vest, subject to the meeting of performance conditions as applicable, during or shortly after 30 July 2025. The Award lapses on the tenth anniversary from the date of grant.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a. | Name of PDMR | Gavin Jones | |
2 | Reason for notification
| ||
a. | Position/Status | Chief Financial Officer | |
b. | Initial notification/ Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a. | Name | FRP Advisory Group plc | |
b. | LEI | 213800IPCG6DE1CVLY36 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a. | Description of the financial instrument, type of instrument Identification Code | Ordinary shares of £0.001 each
GB00BL9BW044 | |
b. | Nature of the transaction | Award of nil-cost options over Ordinary Shares | |
c. | Price(s) and volume(s) | Price(s) | Volume(s) |
GBP - nil | 155,764 | ||
d. | Aggregated information
- Aggregated Volume
- Price |
N/A single transaction
N/A single transaction
| |
e. | Date of the transaction | 31 August 2022
| |
f. | Place of the transaction | XOFF | |
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) 3128 8540 / +44 (0) 20 3128 8570
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:
· 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.
· Pensions advisory: pension scheme transaction advisory, pension scheme restructuring advisory, covenant advisory and corporate governance
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