Frenkel Topping Group PLC PCA Dealing & Concert Party Update (0169R)

TIDMFEN

RNS Number : 0169R

Frenkel Topping Group PLC

18 September 2017

Frenkel Topping Group plc

("Frenkel Topping" or "the Company")

PCA Dealing & Concert Party Update

Frenkel Topping Group plc (AIM: FEN) announces that FCFM Group Limited ("FCFM"), a firm of which Jason Granite is a director and substantial shareholder, on Friday 15 September 2017, purchased 4,064,209 ordinary shares of 0.5p each in the capital of the Company ("Ordinary Shares") and IPGL Limited ("IPGL"), a party connected with FCFM Group Limited and Jason Granite, also purchased 4,064,210 Ordinary Shares from Helium Special Situations Fund ("Helium SSF") at a price of 50 pence per Ordinary Share ("Transaction").

Consequently, certain of the respective shareholdings of the concert party ("Concert Party") as announced on 05 July 2017 have changed although the total number of Ordinary Shares held by the Concert Party remains unchanged at 33.15% of the total voting rights of the Company.

The respective holdings of each Concert Party member following the Transaction are outlined in the table below.

 
 Shareholder       Number of shares   Percentage shareholding 
 Jason Granite              744,772                     0.95% 
 FCFM Group 
  Limited                 9,712,841                    12.35% 
 Phil Cammerman              20,179                     0.03% 
 Incap Finance 
  BV                      4,888,773                     6.22% 
 IPGL Limited             7,151,982                     9.09% 
 Helium SSF               3,555,228                     4.52% 
 Total                   26,073,775                    33.15% 
 

The approval of the Takeover Panel was obtained prior to the above transaction being consummated.

As a consequence of the Concert Party holding in aggregate not less than 30 per cent., but not holding more than 50 per cent., of the Company's issued share capital, should any member of the Concert Party or any person acting in concert with any member of the Concert Party acquire an interest in any shares which increases the percentage of shares carrying voting rights in such company in which the Concert Party (or any person acting in concert with the Concert Party) is interested, that person together with people acting in concert with that person will normally be required to make a general offer in cash to all shareholders in the Company, at the highest price paid by that person or any person acting in concert with that person for an interest in such shares within the preceding 12 months, for all the remaining equity share capital of that company.

For further information:

 
 Frenkel Topping Group               www.frenkeltopping.co.uk 
  plc 
  Jason Granite, Executive 
  Chairman 
 Richard Fraser, Chief                     Tel: [phone] 
  Executive Officer 
 Julie Dean, Chief Financial 
  Officer 
 
 finnCap Ltd                               Tel: [phone] 
 Adrian Hargrave / James 
  Thompson / Alex Price 
 Tony Quirke 
 
 Walbrook PR Ltd                        Tel: [phone] or 
                                [e-mail] 
 Paul McManus                              Mob: [phone] 
 Nick Rome                                 Mob: [phone] 
 

About Frenkel Topping: www.frenkeltopping.co.uk

Frenkel Topping provides specialist independent financial advice focussed on asset protection for clients. The specialist independent financial adviser has a market leading position providing advice and fund management services for personal injury trusts and clinical negligence awards and is well placed to provide services to a wider customer base.

The Company provides a range of wealth management services including bespoke investment portfolios, financial and tax planning. It is focused on increasing its assets under management by growing the number of fee earners who are qualified to provide benefits protection for a variety of needs as the Company adds to its personal injury and clinical negligence specialism.

It has a national presence with offices in Manchester, Birmingham, Cardiff, London and Leeds and has relationships and infrastructure in place to further grow its reach and target markets.

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

 
1.  Details of the person discharging managerial responsibilities / person closely associated 
    ------------------------------------------------------------------------------------------------------------------ 
a)  Name                                                      FCFM 
    --------------------------------------------------------  -------------------------------------------------------- 
2.  Reason for the Notification 
    ------------------------------------------------------------------------------------------------------------------ 
a)  Position/status                                           Entity of which Jason Granite, Executive Chairman and 
                                                              CIO of the Company is a director 
    --------------------------------------------------------  -------------------------------------------------------- 
b)  Initial notification/Amendment                            Initial notification 
    --------------------------------------------------------  -------------------------------------------------------- 
3.  Details of the issuer, emission allowance market participant, auction platform, auctioneer 
     or auction monitor 
    ------------------------------------------------------------------------------------------------------------------ 
a)  Name                                                      Frenkel Topping Group plc 
    --------------------------------------------------------  -------------------------------------------------------- 
b)  LEI                                                       n/a 
    --------------------------------------------------------  -------------------------------------------------------- 
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          Ordinary Shares of 0.5p 
    instrument 
    --------------------------------------------------------  -------------------------------------------------------- 
    Identification code                                       GB00B01YXQ71 
    --------------------------------------------------------  -------------------------------------------------------- 
b)  Nature of the transaction                                 Purchase of Ordinary Shares 
    --------------------------------------------------------  -------------------------------------------------------- 
c)  Price(s) and volume(s)                                    Price(s)  Volume(s) 
                                                               50p       4,064,209 
    --------------------------------------------------------  -------------------------------------------------------- 
d)  Aggregated information: 
     --Aggregated volume                                       4,064,209 Ordinary Shares of 0.5p pence each bought at 
     --Price                                                   50 pence per Ordinary Share 
    --------------------------------------------------------  -------------------------------------------------------- 
e)  Date of the transaction                                   15 September 2017 
    --------------------------------------------------------  -------------------------------------------------------- 
f)  Place of the transaction                                  London Stock Exchange, AIM Market (XLON) 
    --------------------------------------------------------  -------------------------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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September 18, 2017 04:26 ET (08:26 GMT)