AFH Financial Group Plc Acquisition of Broadleaf Financial Services (6866M)
2019年9月18日 - 3:01PM
RNSを含む英国規制内ニュース (英語)
TIDMAFHP TIDMAFHB
RNS Number : 6866M
AFH Financial Group Plc
18 September 2019
18 September 2019
AFH FINANCIAL GROUP PLC
("AFH" or the "Company")
Acquisition of Broadleaf Financial Services Limited
AFH Financial Group plc (AIM: AFHP), a leading financial
planning led wealth management firm, announces it has completed the
acquisition of Broadleaf Financial Services Limited ("Broadleaf"),
an IFA business based in the Wirral, for a maximum consideration of
GBP3.2 million, subject to performance criteria of Broadleaf during
the two year earn out period.
Under the terms of the acquisition, four advisers from Broadleaf
will join AFH together with their support staff, bringing their
clients and GBP140 million of Funds Under Management (FUM). The
initial consideration for the acquisition is GBP1.7 million and was
paid from existing cash reserves, with the balance payable in cash
over a 26-month period. Following the acquisition, John Shaw,
principal adviser and Director and one of the founders of
Broadleaf, together with his fellow directors, have retired from
the business.
Commenting, Alan Hudson, Chief Executive of AFH, said:
"This acquisition follows the recent acquisitions of Mulberry
Independent Financial Advisers and AE Garment, bringing the total
committed spend to GBP10.4 million since the Convertible Loan Stock
placing in July 2019. The acquisition has been completed on a
similar attractive multiple to previous transactions and extends
the AFH footprint in the North West of the UK.
"As previously reported, in this period of economic and
political uncertainty we remain focused on driving the organic
growth of our business by providing professional and cost-effective
services to our clients and, in-turn, enhancing profitability. The
Company remains well capitalised to take advantage of the
previously identified acquisition opportunities and to continue its
record of delivering profitable growth and enhanced shareholder
value."
Enquiries:
AFH Financial Group PLC 01527 577 775
Alan Hudson, Chief Executive Officer
Paul Wright, Chief Financial Officer
Liberum (Nominated Adviser and Joint Broker) 020 3100 2000
Richard Bootle / Euan Brown / Kane Collings
Shore Capital (Joint Broker) 020 7408 4090
Hugh Morgan / Edward Mansfield / Daniel Bush
Yellow Jersey PR Limited (Financial PR) 077 4884 3871
Felicity Winkles / Joe Burgess / Annabel Atkins
Notes to Editors
AFH Financial Group (AIM: AFHP) is leading UK financial
planning-led wealth management firm based in the Midlands. Founded
in 1990 by CEO Alan Hudson, the Company provides wealth management
and financial advisory services to over 20,000 clients in the UK.
These services are delivered by over 450 professional advisers and
400 support staff.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
ACQUBARRKSAKAUR
(END) Dow Jones Newswires
September 18, 2019 02:01 ET (06:01 GMT)
Afh Financial (LSE:AFHP)
過去 株価チャート
から 6 2024 まで 7 2024
Afh Financial (LSE:AFHP)
過去 株価チャート
から 7 2023 まで 7 2024