AFH Financial Group Plc
LSE : AFHP

December 11, 2013 02:00 ET

ACQUISITION OF MICHAEL MAC WEALTH MANAGEMENT

                                                                                               GB00B4W5WQ08
                                                                                           11 December 2013
                                                                                                           
                                          AFH FINANCIAL GROUP PLC
                                         ("AFH" or the "Company")

                               ACQUISITION OF MICHAEL MAC WEALTH MANAGEMENT

AFH  Financial  Group  PLC is pleased to announce that it has acquired the assets  of  Michael  Mac  Wealth
Management ("Michael Mac"). This is the Company's nineteenth acquisition since listing on ISDX in June 2011
and the sixth since the Retail Distribution Review (RDR) was implemented on 1 January 2013.

Based  in Bishopton, near Stratford-Upon-Avon, Michael Mac is a Wealth Manager with approximately GBP  8.35
million of funds under management. In its most recently completed financial year, Michael Mac had recurring
revenues  of GBP 83,477. The owner and vendor of Michael Mac is leaving the industry and Michael Mac's  750
clients will be transferred to advisers at AFH following the acquisition.

The  maximum  consideration for the acquisition is GBP 250,431. This will be satisfied by an  initial  cash
payment of GBP 58,851 from the Company's existing cash reserves, followed by further cash consideration  up
to  a  maximum  of  GBP  191,580 depending on the performance of Michael Mac in  the  24  months  following
completion.

Commenting on the acquisition, Alan Hudson, Chairman and Chief Executive of AFH, said:

"The  first quarter of this financial year has started well with high activity at the Company. I am pleased
to  welcome  Michael  Mac's  clients to AFH Financial Group where they will immediately  benefit  from  the
breadth and quality of the services that we provide."
                                                     
       The directors of AFH Financial Group PLC are responsible for the content of this announcement

Enquiries:

AFH Financial Group PLC                                                                01527 577 775
Alan Hudson, Chairman and Chief Executive
www.afhfinancialgroup.com

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

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

Contact Information

  • AFH Financial Group Plc