AFH Financial Group Plc Acquisition (9749F)

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RNS Number : 9749F

AFH Financial Group Plc

27 February 2018

AFH FINANCIAL GROUP PLC

("AFH" or the "Company")

ACQUISITION OF HARRISON WHITE FS LIMITED

The Board of AFH, a leading financial planning led wealth management firm, is pleased to announce the completion of the acquisition of Harrison White FS Limited ("Harrison White") based in Tring, Hertfordshire. Following the acquisition Steve White will join AFH as an adviser.

Under the terms of the acquisition, the maximum purchase price is GBP738,000 based on the ongoing gross profitability of the business subject to the fulfilment of certain financial targets.

The acquisition is expected to contribute an aggregate of approximately GBP410,000 per annum of revenue to the Company whilst adding GBP55m of Funds under Management.

The initial consideration for the acquisition is GBP362,280 in cash, funded from the Company's existing cash resources. Further deferred consideration will be payable in cash over the next 26 months in two tranches, subject to performance criteria of the business acquired being achieved.

Commenting, Alan Hudson, Chief Executive of AFH, said:

"I am pleased to report our fourth acquisition of the financial year which further strengthens our presence in the Home Counties. Steve maintains a strong local network through his sporting connections and I look forward to working with him for the benefit of our new clients and to increase shareholder value."

Enquiries:

AFH Financial Group PLC 01527 577 775

Alan Hudson, Chief Executive Officer

Paul Wright, Chief Financial Officer

www.afhfinancialgroup.com

Liberum (Nominated Adviser and Broker) 020 3100 2000

John Fishley/Richard Bootle

This announcement is released by AFH Financial Group plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Paul Wright, Chief Financial Officer.

This information is provided by RNS

The company news service from the London Stock Exchange

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February 27, 2018 02:00 ET (07:00 GMT)

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