AFH Financial Group Plc
LSE : AFHP

December 17, 2012 11:11 ET

Amendment - Acquisition of Further IFA Businesses

                                                                                                           
                                                                                                           
                                                                                           17 December 2012
                                                                                               GB00B4W5WQ08
                                                                                                           
                                          AFH Financial Group PLC
                                         ("AFH" or the "Company")
                                                     
                                   Acquisition of Further IFA Businesses
                                                     
In  the  announcement released by the Company this morning, the consideration paid for the  acquisition  of
Racol  Financial  Limited was incorrectly stated as being GBP160,000. The actual consideration  paid  by  the
Company was GBP240,000. The correct text of the announcement is set out below.

"AFH,  winner  of the PLUS-SX Newcomer of the Year 2012 award and a leading independent financial  advisory
("IFA") and wealth management firm, today announces the acquisition of a further two IFA businesses, Seager
Financial   Consultancy  Limited  ("Seager  Financial")  and  Racol  Financial  Services  Limited   ("Racol
Financial"). AFH has now successfully completed 12 acquisitions since its IPO in June 2011.

Redditch-based Seager Financial, formerly a member of the Lighthouse Network, was acquired  on  1  December
2012  for  a  cash consideration of GBP31,000. The founder of Seager Financial, Ian Seager, has stepped  down
from his role as an IFA with the business but has joined the Business Development Team at AFH.

Racol  Financial,  whose client base is in Buckinghamshire, was acquired on 14 December  2012  for  a  cash
consideration  of  GBP240,000;  Racol  Financial was formerly  a  member  of  the  On-line  Partnership.  Ray
Collingridge, the founder of Racol Financial, is retiring from the industry, but his daughter will transfer
across to AFH and continue as an IFA.

Together,  these acquisitions provide AFH with a significant number of additional high net  worth  clients,
which will drive incremental, high margin business for the Company's advisers, who now number 100.

Commenting today, Alan Hudson, Chairman and Chief Executive of AFH, stated: "Today's transactions  continue
our  strategy  of  growing  the  business both organically and through select and  opportune  acquisitions.
Moreover,  these deals demonstrate the ongoing opportunities that are stemming from the Retail Distribution
Review  and  underline  AFH's commanding position in a highly fragmented sector. I am  delighted  with  the
overall performance of the Company and my team in the last twelve months and I look forward with confidence
to 2013".


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.afhifs.co.uk

St Helens Capital Partners LLP                                                         020 7368 6959
Mark Anwyl or Duncan Vasey

Yellow Jersey PR Limited                                                               07768 537 739
Dominic Barretto

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