AFH Financial Group Plc

September 13, 2012 02:00 ET

Elgar Financial Limited marks ninth acquisition since IPO

                                                                                          13 September 2012
                                          AFH Financial Group PLC
                   ("AFH" or the "Company"; together with its subsidiaries, the "Group")
                         Elgar Financial Limited marks ninth acquisition since IPO
                                            (the "Acquisition")
AFH,  winner  of the PLUS-SX Newcomer of the Year 2012 award and a leading discretionary wealth  management
and  independent financial advisory (IFA) firm, today announces the acquisition of Elgar Financial  Limited
("Elgar"), a Hereford-based IFA. This acquisition marks AFH's ninth acquisition since its IPO last year.

Elgar,  founded in 1992 by Andrew Sellers who is retiring due to ill health, has 70 active  clients  and  a
strong  database with no other staff. The consideration for the Acquisition is GBP120,000  which  has  been
satisfied in cash from the Company's existing resources.

Commenting today, Alan Hudson, Chairman and Chief Executive of AFH, stated:   "Operationally, the Group has
grown  significantly  in the period since the July Interim Results, where increased like-for-like  revenues
and recurring income of 20% and 29% respectively were reported. IFA adviser numbers have also grown from 53
at  the  time  of  flotation last year to 91 at the start of September. The Group remains profitable,  cash
generative  and extremely well placed to take advantage of changes in the sector as a result of  December's
Retail Distribution Review.

"Today's  ninth  acquisition  reaffirms the Board's stated intention  to  grow  through  both  organic  and
acquisitive growth. The remaining months of 2012 and through to 2013 present an exciting time for the Group
as it seeks to take advantage of the  sector's  rationalisation and consolidation, where it expects  to  be
a  major beneficiary of industry change".

The directors of AFH Financial Group PLC are responsible for the content of this announcement.

AFH Financial Group PLC                                                                       01527 577 775
Alan Hudson, Chairman and Chief Executive     
St Helens Capital Partners LLP                                                                020 7368 6959
Mark Anwyl or Duncan Vasey                             
Yellow Jersey PR Limited                                                                                   
Dominic Barretto                                                                              07768 537 739
Harry Fielder                                                                                 07747 788 221

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