AFH Financial Group Plc
LSE : AFHP

June 24, 2013 05:30 ET

Acquisition of Shape Financial Limited

                                                                                               24 June 2013
                                                                                               GB00B4W5WQ08
                                                                                                           
                                          AFH Financial Group PLC
                                         ("AFH" or the "Company")
                                                     
                                  Acquisition of Shape Financial Limited
                                            ("Shape Financial")
                                                     
AFH,  a  leading  independent financial advisory ('IFA') and discretionary wealth  management  firm,  today
announces  the  acquisition  of Shape Financial. Today's announcement marks the  14th  acquisition  by  the
Company since its IPO in June 2011.

Shape  Financial is an FCA authorised, Somerset-based IFA which reported a turnover of GBP 1.5  million  in
its  most  recently  completed financial year. This acquisition brings 16 new  advisers,  including  all  5
shareholder directors of Shape Financial, to the Company's current total of 104 advisers.  The new advisers
will continue to operate out of Shape Financial's Somerset-based office, broadening AFH's presence into the
South West of England.

AFH  has paid initial consideration of GBP 125,000 for the acquisition of Shape Financial.  This amount has
been satisfied in cash from the Company's existing resources. Additional consideration, up to a maximum  of
GBP  1.5 million in total, may be payable after 15 months and 27 months, depending on the profitability  of
Shape Financial in the two years following its acquisition.

Commenting  today,  Alan  Hudson, Chairman and Chief Executive of AFH, said: "Today's  acquisition  further
advances  our successful strategy of growing the Company both organically and through select and well-timed
acquisitions.  Importantly,  Shape Financial is a strong cultural fit for AFH and  their  Somerset  outpost
provides a platform from which the Company can extend its reach into the South West region."


       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 7220 9796
Mark Anwyl or Duncan Vasey

Yellow Jersey PR Limited                                                    07768 537 739
Dominic Barretto or Anna Legge

Contact Information

  • AFH Financial Group Plc