AFH Financial Group Plc

November 21, 2013 03:28 ET


                                                                                           21 November 2013
                                          AFH Financial Group PLC
                                         ("AFH" or the "Company")

                                 ACQUISITION OF AG FINANCIAL PLANNING LTD

AFH  Financial  Group PLC announces the acquisition of AG Financial Planning Ltd ("AG Financial"),  an  IFA
based in Bridgend, Wales.

AG  Financial has approximately GBP 28.0 million of funds under management for around 200 clients  and  had
recurring  revenues  of  approximately GBP 140,000 in its most recently completed  financial  year.  Robert
Donaldson, the vendor of AG Financial, is being retained by AFH as an adviser.

The  maximum  consideration for the acquisition is GBP 422,000. This will be satisfied by an  initial  cash
payment of GBP 195,000 from the Company's existing resources, followed by further cash consideration of  up
to GBP 227,000 depending on the performance of AG Financial in the 24 months following completion.

Commenting on today's acquisition, which marks the Company's seventeenth since listing on ISDX in June 2011
and  its  fourth since the Retail Distribution Review (RDR) was implemented on 1 January 2013, Alan Hudson,
Chairman and Chief Executive of AFH, said:

"I  am  pleased to welcome Robert and his clients to our growing advisory team. This transaction underlines
our strategy of making synergistic acquisitions which enhance our existing offering."

       The directors of AFH Financial Group PLC are responsible for the content of this announcement


AFH Financial Group PLC                                                                01527 577 775
Alan Hudson, Chairman and Chief Executive

Peterhouse Corporate Finance Limited                                                   020 7469 0930
Mark Anwyl or Duncan Vasey

Yellow Jersey PR Limited                                                               07768 537 739
Dominic Barretto or Kelsey Traynor

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  • AFH Financial Group Plc