TIDMAFHP TIDMAFHB
RNS Number : 2242O
AFH Financial Group Plc
05 February 2021
FORM 8 (OPD)
PUBLIC OPENING POSITION DISCLOSURE BY A PARTY TO AN OFFER
Rules 8.1 and 8.2 of the Takeover Code (the "Code")
1. KEY INFORMATION
(a) Full name of discloser: AFH Financial Group PLC
(b) Owner or controller of interests and short positions disclosed, if different from 1(a): N/A
The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s),
settlor and beneficiaries must be named.
------------------------
(c) Name of offeror/offeree in relation to whose relevant securities this form relates: AFH Financial Group PLC
Use a separate form for each offeror/offeree
------------------------
(d) Is the discloser the offeror or the offeree? Offeree
------------------------
(e) Date position held: 4 February 2021
The latest practicable date prior to the disclosure
------------------------
(f) In addition to the company in 1(c) above, is the discloser making disclosures in N/A
respect
of any other party to the offer?
If it is a cash offer or possible cash offer, state "N/A"
------------------------
2. POSITIONS OF THE PARTY TO THE OFFER MAKING THE DISCLOSURE
If there are positions or rights to subscribe to disclose in
more than one class of relevant securities of the offeror or
offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for
each additional class of relevant security.
(a) Interests and short positions in the relevant securities of
the offeror or offeree to which the disclosure relates
Class of relevant security: Ordinary shares of 10 pence each
Interests Short positions
------------------- ------------------
Number % Number %
----------- ------ ---------- ------
(1) Relevant securities owned and/or controlled: Nil Nil Nil Nil
----------- ------ ---------- ------
(2) Cash-settled derivatives: Nil Nil Nil Nil
----------- ------ ---------- ------
(3) Stock-settled derivatives (including options) and agreements to Nil Nil Nil Nil
purchase/sell:
----------- ------ ---------- ------
Nil Nil Nil Nil
TOTAL:
----------- ------ ---------- ------
Class of relevant security: 4 per cent. Convertible Unsecured Loan Stock 2024
Interests Short positions
---------------------------- --------------------------
Number % Number %
---------------- ---------- --------------- ---------
(1) Relevant securities owned and/or controlled: Nil Nil Nil Nil
---------------- ---------- --------------- ---------
(2) Cash-settled derivatives: Nil Nil Nil Nil
---------------- ---------- --------------- ---------
(3) Stock-settled derivatives (including options) and Nil Nil Nil Nil
agreements to purchase/sell:
---------------- ---------- --------------- ---------
Nil Nil Nil Nil
TOTAL:
---------------- ---------- --------------- ---------
All interests and all short positions should be disclosed.
Details of any open stock-settled derivative positions
(including traded options), or agreements to purchase or sell
relevant securities, should be given on a Supplemental Form 8 (Open
Positions).
Details of any securities borrowing and lending positions or
financial collateral arrangements should be disclosed on a
Supplemental Form 8 (SBL).
(b) Rights to subscribe for new securities
Class of relevant security in relation to which subscription right exists: None
Details, including nature of the rights concerned and relevant percentages: N/A
-----
3. POSITIONS OF PERSONS ACTING IN CONCERT WITH THE PARTY TO THE OFFER MAKING THE DISCLOSURE
Details of any interests, short positions and rights to subscribe (including directors' and
other employee options) of any person acting in concert with the party to the offer making
the disclosure:
Interest of directors of AFH Financial Group PLC in ordinary shares of AFH Financial Group
PLC:
Name Role No. of ordinary Percentage
shares holding
Alan Hudson(1) CEO 5,959,269 13.864%
---------------------------- ---------------- -----------
Paul Wright CFO 35,000 0.081%
---------------------------- ---------------- -----------
Austin Broad Group Head of Advice 15,000 0.035%
---------------------------- ---------------- -----------
Independent Non-Executive
John Wheatley Director (INED) 233,121 0.542%
---------------------------- ---------------- -----------
Independent Non-Executive
Mark Chambers(2) Director (INED) 78,133 0.182%
---------------------------- ---------------- -----------
Notes: Number of ordinary shares are aggregated to include all family holdings:
(1) 3,569 of the Ordinary Shares are held by Mrs Hudson, the mother of Alan Hudson
(2) 5,857 of the Ordinary Shares are held by Mrs Chambers, the wife of Mark Chambers
Share options held by Directors of AFH Financial Group PLC:
Name Role Option type Granting Normal Expiry No. Number Exercise
date vesting date of of price
date shares Growth (GBP)
under Shares
option of
0.1p
Alan
Hudson CEO Unapproved 30-Jun-14 30-Jun-17 29-Jun-24 150,000 - 1.400
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Alan Growth
Hudson CEO Shares 15-Feb-16 15-Feb-19 14-Feb-26 - 100 1.800
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Alan Growth
Hudson CEO Shares 02-Feb-17 02-Feb-20 01-Feb-27 - 100 1.730
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Alan Growth
Hudson CEO Shares 15-Nov-17 15-Nov-20 14-Nov-27 - 125 2.500
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Alan Growth
Hudson CEO Shares 10-Oct-18 10-Oct-21 09-Oct-28 - 150 3.940
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Alan Growth
Hudson CEO Shares 19-Nov-19 19-Nov-22 18-Nov-29 - 150 3.010
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Paul
Wright CFO EMI 21-Jul-14 21-Jul-17 20-Jul-24 68,027 - 1.470
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Paul
Wright CFO EMI 13-Jan-14 13-Jan-17 12-Jan-24 125,000 - 1.200
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Paul
Wright CFO Unapproved 30-Jun-14 30-Jun-17 29-Jun-24 56,973 - 1.400
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Paul
Wright CFO ESS 15-Feb-16 15-Feb-19 14-Feb-26 - 60 1.800
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Paul Growth
Wright CFO Shares 02-Feb-17 02-Feb-20 01-Feb-27 - 32 1.730
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Paul Growth
Wright CFO Shares 15-Nov-17 15-Nov-20 14-Nov-27 - 40 2.500
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Paul Growth
Wright CFO Shares 10-Oct-18 10-Oct-21 09-Oct-28 - 50 3.940
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Paul Growth
Wright CFO Shares 19-Nov-19 19-Nov-22 18-Nov-29 - 50 3.010
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Group
Head
Austin of
Broad Advice EMI 01-Aug-12 01-Aug-15 31-Jul-22 10,000 - 1.000
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Group
Head
Austin of
Broad Advice EMI 13-Jan-14 13-Jan-17 12-Jan-24 35,000 - 1.200
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Group
Head
Austin of
Broad Advice EMI 01-Nov-14 01-Nov-17 31-Oct-24 665 - 1.505
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Group
Head
Austin of
Broad Advice Contractor 22-Jun-11 22-Jun-14 21-Jun-21 40,755 - 0.370
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Group
Head
Austin of
Broad Advice ESS 15-Feb-16 15-Feb-19 14-Feb-26 - 60 1.800
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Group
Head
Austin of Growth
Broad Advice Shares 02-Feb-17 02-Feb-20 01-Feb-27 - 16 1.730
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Group
Head
Austin of Growth
Broad Advice Shares 15-Nov-17 15-Nov-20 14-Nov-27 - 20 2.500
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Group
Head
Austin of Growth
Broad Advice Shares 10-Oct-18 10-Oct-21 09-Oct-28 - 35 3.940
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Group
Head
Austin of Growth
Broad Advice Shares 19-Nov-19 19-Nov-22 18-Nov-29 - 35 3.010
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Group
Head
Alex of
Larvin Risk EMI 22-Jun-11 22-Jun-14 21-Jun-21 40,755 - 0.370
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Group
Head
Alex of
Larvin Risk EMI 01-Aug-12 01-Aug-15 31-Jul-22 10,000 - 1.000
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Group
Head
Alex of
Larvin Risk EMI 13-Jan-14 13-Jan-17 12-Jan-24 50,000 - 1.200
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Group
Head
Alex of
Larvin Risk EMI 01-Nov-14 01-Nov-17 31-Oct-24 665 - 1.505
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Group
Head
Alex of Growth
Larvin Risk Shares 15-Feb-16 15-Feb-19 14-Feb-26 - 60 1.800
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Group
Head
Alex of Growth
Larvin Risk Shares 02-Feb-17 02-Feb-20 01-Feb-27 - 16 1.730
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Group
Head
Alex of Growth
Larvin Risk Shares 15-Nov-17 15-Nov-20 14-Nov-27 - 25 2.500
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Group
Head
Alex of Growth
Larvin Risk Shares 10-Oct-18 10-Oct-21 09-Oct-28 - 35 3.940
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Group
Head
Alex of Growth
Larvin Risk Shares 19-Nov-19 19-Nov-22 18-Nov-29 - 35 3.010
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
John
Wheatley INED Contractor 22-Jun-11 22-Jun-14 21-Jun-21 13,585 - 0.370
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
John
Wheatley INED Contractor 01-Aug-12 01-Aug-15 31-Jul-22 5,000 - 1.000
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
John
Wheatley INED Unapproved 30-Jun-14 30-Jun-17 29-Jun-24 25,000 - 1.400
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
John
Wheatley INED Unapproved 26-Jan-16 26-Jan-19 25-Jan-26 15,000 - 1.715
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Mark
Chambers INED Unapproved 26-Jan-16 26-Jan-19 25-Jan-26 10,000 - 1.715
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Sue Lewis INED Unapproved 30-Jun-14 30-Jun-17 29-Jun-24 25,000 - 1.400
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Sue Lewis INED Unapproved 26-Jan-16 26-Jan-19 25-Jan-26 10,000 - 1.715
-------- ------------ ----------- ----------- ----------- -------- ------- ---------
Cash Sale SPA:
Bidco and Alan Hudson have entered into an agreement, dated 25(th) January 2021, to sell for
cash at a price equal to the Acquisition Price 4,294,065 AFH Shares beneficially owned by
him (representing approximately 9.99 per cent. of AFH's issued ordinary share capital as at
the Latest Practicable Date) to Bidco. Completion of the acquisition is not subject to any
conditions but will occur: (i) immediately following the issue of the Scheme Court Order;
or (ii) the Long Stop Date (30 June 2021), whichever is the earlier. If the Scheme Court Order
has not been issued on or before the Long Stop Date, Bidco will have the right, but is not
obliged, to rescind the agreement. As such, the CEO will only receive the consideration (solely
in the form of cash) at such time as payments are made to the other shareholders of the Company
in accordance with Section 10 of Appendix 7 of the Code.
Details of any open stock-settled derivative positions
(including traded options), or agreements to purchase or sell
relevant securities, should be given on a Supplemental Form 8 (Open
Positions).
Details of any securities borrowing and lending positions or
financial collateral arrangements should be disclosed on a
Supplemental Form 8 (SBL).
4. OTHER INFORMATION
(a) Indemnity and other dealing arrangements
Details of any indemnity or option arrangement, or any agreement or understanding, formal
or informal, relating to relevant securities which may be an inducement to deal or refrain
from dealing entered into by the party to the offer making the disclosure or any person acting
in concert with it:
Irrevocable commitments and letters of intent should not be included. If there are no such
agreements, arrangements or understandings, state "none"
None
(b) Agreements, arrangements or understandings relating to options or derivatives
Details of any agreement, arrangement or understanding, formal or informal, between the party
to the offer making the disclosure, or any person acting in concert with it, and any other
person relating to:
(i) the voting rights of any relevant securities under any option; or
(ii) the voting rights or future acquisition or disposal of any relevant securities to which
any derivative is referenced:
If there are no such agreements, arrangements or understandings, state "none"
None
(c) Attachments
Are any Supplemental Forms attached?
Supplemental Form 8 (Open Positions) NO
Supplemental Form 8 (SBL) NO
---
Date of disclosure: 5 February 2021
Contact name: Paul Wright
----------------
Telephone number: 01527 577775
----------------
Public disclosures under Rule 8 of the Code must be made to a
Regulatory Information Service.
The Panel's Market Surveillance Unit is available for
consultation in relation to the Code's disclosure requirements on
+44 (0)20 7638 0129.
The Code can be viewed on the Panel's website at
www.thetakeoverpanel.org.uk .
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END
FEEEAXASELPFEFA
(END) Dow Jones Newswires
February 05, 2021 12:51 ET (17:51 GMT)
Afh Financial (LSE:AFHP)
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