1 October 2013
AFH Financial Group PLC
("AFH" or the "Company")
ACQUISITION OF CH FINANCIAL LIMITED
Second successful acquisition since RDR implementation
AFH, a leading independent financial advisory ("IFA") and discretionary wealth management firm, is pleased
to announce the acquisition of the business and assets of CH Financial Limited ("CH Financial"). This
acquisition marks the Company's 15th acquisition since listing on ISDX in June 2011 and the second since
The Retail Distribution Review (RDR) was implemented on 1 January 2013.
CH Financial is an FCA authorised IFA based in Hemel Hempstead with over GBP 70 million of funds under
management for clients in London and the Home Counties. In the year ended 31 March 2013, CH Financial had
revenues of GBP 559,000 of which GBP 333,000 comprised recurring income. David Chenkin, the vendor of CH
Financial, will join AFH.
The consideration for the acquisition comprises an initial cash payment of GBP 360,000 from the Company's
existing resources; further consideration, up to a maximum of GBP 640,000, may be payable over the 26
months following the acquisition, depending on the performance of CH Financial in that period.
Today's news follows the recent raising by the Company of GBP 2.8 million in an Equity and Bond Issue to
provide additional working capital for the Company and to finance potential future acquisitions.
Commenting on today's acquisition, Alan Hudson, Chairman and Chief Executive of AFH, said: "With RDR fully
implemented, we are delighted to announce today's acquisition as we further advance our position in the
South East of England.
"The last six months has seen a period of high activity at the Company. AFH is a dividend paying business
with a strong balance sheet, offering potential partners and investors access to a fast growing,
acquisitive public company.
"We continue to make well-timed, select investments, and are pleased to welcome David Chenkin to AFH; he
will add significant value with his extensive experience in the industry."
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