REG - FRP Advisory Grp PLC - Chair succession

Frp AdvisoryAnnouncement

12/12/2023 07:15

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RNS Number : 4070W  FRP Advisory Group PLC  12 December 2023

FRP Advisory Group plc

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

 

Chair succession

 

FRP Advisory Group plc, a leading national specialist business advisory firm,
today announces that Nigel Guy will retire from his role as Non-executive
Chairman of FRP on 2 January 2024, after 13 years in the role.

 

Nigel's retirement is in accordance with the succession plan developed by the
Board and this has allowed for the appointment of a new Chair to lead the
Board as the Company continues to execute its growth strategy. This plan
enabled the Board to conduct a thorough recruitment process with support from
an external search firm, and the Company is pleased to announce the
appointment of Penny Judd as Non-executive Chair of FRP, with effect from 2
January 2024.

 

Nigel joined FRP Advisory LLP as Chairman shortly after the management buyout
completed in 2010 and became Chair of FRP Advisory Group plc following the IPO
in March 2020.

 

Nigel Guy, Retiring Chairman of FRP Advisory Group plc, said:

 

"I am hugely proud of what we have achieved at FRP over the last 13 years and
appreciate the support and counsel of many of our colleagues over that time.
The Group has grown to become a market leading advisory firm and has a strong
base to continue its development which I will follow with interest."

 

FRP's incoming Chair Penny Judd has over 35 years' experience in Compliance,
Regulation, Corporate Finance and Audit. Penny is currently a non-executive
director of a number of AIM quoted companies.

 

Penny Judd, Chair Designate of FRP Advisory Group plc, said:

 

"FRP is a fantastic business, with a proven growth strategy built on the
strength of its reputation, management and people. I am honoured to be taking
over as Chair and look forward to working with the Board and other FRP
colleagues to build on the company's success."

 

Penny is currently a Non-Executive Director of LendInvest plc (Chair of Audit
Committee), Alpha Financial Markets Consulting plc (Chair of Remuneration
Committee and SID), TruFin plc, (Chair of Audit Committee and SID) and Team17
Group plc (Chair of Audit Committee). Between 2016 and 2021 Penny was
Non-Executive Chairman at Plus500 Ltd, a FTSE 250 retail CFD provider,
managing the company through a period of extreme regulatory change and a move
from AIM to a premium listing on the Main Market.

 

Penny was, until June 2016, a Managing Director and EMEA Head of Compliance at
Nomura International plc, a position she held for three years. Prior to this,
Penny worked at UBS Investment Bank for nine years and held the position of
Managing Director, EMEA Head of Compliance. Penny also acted as Head of Equity
Markets at the London Stock Exchange, worked in Corporate Finance at Cazenove
and is a qualified Chartered Accountant.

 

Geoff Rowley, Chief Executive Officer of FRP Advisory Group plc, said:

 

"Since Nigel became Chairman in 2010, FRP has grown from a small partnership
into one of the UK's largest national independent advisory firms with 650
colleagues, 28 offices and revenue of over £100 million. On behalf of the
Board and everyone at FRP, I would like to thank Nigel for his contribution
over the years and we wish him a long and healthy retirement.

 

Following a thorough recruitment process we look forward to welcoming Penny to
Chair our Board. Penny has extensive public company Board experience and a
deep knowledge of the capital markets that will be invaluable to FRP as we
continue to grow."

 

 

Pursuant to Schedule 2 (g) of the AIM Rules for Companies, Penelope Ruth
('Penny') Judd (aged 60) has held the following directorships or partnerships
in the past five years:

 

 Current                                 Previous
 Alpha Financial Markets Consulting plc  Plus500 Ltd

 Lendinvest plc

 Team17 Group plc

 TruFin plc

 

 

Penny Judd does not hold any ordinary shares in the Company.

 

There is no further information required to be disclosed in respect of the
above appointment pursuant to Rule 17 and Schedule 2 (g) of the AIM Rules for
Companies.

 

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 (Financial Public Relations)

Oliver Hughes

Charlie Barker

Catherine Chapman

Tel: +44 (0) 783 462 3818

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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