AFH Financial Group Plc

LSE : AFHP


May 19, 2014 02:00 ET

ACQUISITION OF OMEGA CONSULTING (NORWICH) LTD

                                                                                                19 May 2014
                                                                                               GB00B4W5WQ08
                                                                                                           

                                          AFH Financial Group PLC
                                         ("AFH" or the "Company")
                                                     
                               ACQUISITION OF OMEGA CONSULTING (NORWICH) LTD

AFH  Financial Group plc is pleased to announce the acquisition of the assets of Omega Consulting (Norwich)
Ltd  ("Omega"). Today's acquisition marks the Company's second in this calendar year and its  eighth  since
the implementation of the Retail Distribution Review (RDR) on 1 January 2013.

Omega  is based in Norwich with approximately GBP14 million of funds under management and recurring  income
of  GBP39,000  per annum. The Director and Owner of Omega has taken the decision to leave the industry  and
therefore Omega's clients will be serviced by existing AFH advisers after the transaction completes.

The   consideration  for  the  acquisition  comprises  an  initial  cash  payment  of  GBP28,500;   further
consideration,  up  to  a  maximum  of  GBP88,500, may be payable over  a  26-month  period  following  the
acquisition based on the performance of Omega during that period.

Commenting  on  today's acquisition, Alan Hudson, Chief Executive of AFH, said: "We  welcome  the  existing
clients  of  Omega  and  look forward to bringing them on board at a pivotal time for  the  Company  as  we
progress our move to AIM. "

       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, Chief Executive
Paul Wright, Chief Financial Officer
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