AFH Financial Group Plc
LSE : AFHP

November 04, 2013 02:00 ET

ACQUISITION OF ORIGIN FINANCIAL LIMITED

                                                                                               GB00B4W5WQ08
                                                                                            4 November 2013
                                                                                                           
                                          AFH Financial Group PLC
                                         ("AFH" or the "Company")

                                  ACQUISITION OF ORIGIN FINANCIAL LIMITED

AFH  Financial Group PLC announces the acquisition of Origin Financial Limited ("Origin"), an IFA based  in
Hagley, West Midlands. This acquisition marks the Company's sixteenth acquisition since listing on ISDX  in
June 2011 and the third since the Retail Distribution Review (RDR) was implemented on 1 January 2013.

Origin  has  approximately  GBP  88.0 million of funds under management for  clients  throughout  the  West
Midlands. In the year ended 31 December 2012, Origin had revenues of approximately GBP 770,000 of which GBP
440,000 was recurring income. All advisers and staff will remain with the company, including Andrew  Smith,
current  CEO  of  Origin, who will be a Divisional Director. The business will, after a  short  integration
period, operate from AFH's Bromsgrove headquarters.

The maximum consideration for the acquisition is GBP 1.1 million. This will be satisfied by an initial cash
payment  within  three months of completion of GBP 412,501 from the Company's existing  resources;  further
cash  consideration,  up  to  a maximum of GBP 687,499, may be payable over the  29  months  following  the
acquisition, depending on the performance of Origin in that period.

Commenting  on  today's  acquisition, Alan Hudson, Chairman and Chief  Executive  of  AFH,  said:  "We  are
delighted to continue a period of high activity for the Company with our sixteenth select acquisition since
listing.

"With  the  recent  fundraising completed, we have the necessary capital to make strategic  investments  in
complimentary businesses that add immediate value and help promote AFH as a leading UK IFA.


       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