AFHP Afh Financial Group Plc

TIDMAFHP

RNS Number : 9070V

AFH Financial Group Plc

03 November 2014

3 November 2014

AFH FINANCIAL GROUP PLC

("AFH" or the "Company")

ACQUISITION OF KNIGHT O'BYRNE LIMITED

Total Funds Under Management exceeds GBP900m

The Board of AFH is pleased to announce the acquisition of the assets of chartered financial planners Knight O'Byrne Limited ("Knight O'Byrne"), headquartered in Cornwall.

Today's acquisition will add GBP51m of funds under management, taking the Company's total funds under management above the GBP900m mark. Diane Knight and Bridget O'Byrne will join AFH as advisers.

Under the terms of the acquisition, the maximum consideration payable by AFH is GBP1.2 million, satisfied by an initial cash payment upon completion of GBP525,000, followed by a further cash consideration of up to GBP675,000, payable over the next 26 months in three tranches and dependent upon performance criteria of Knight O'Byrne over the next two years.

The acquisition was completed on 3 November 2014. Knight O'Byrne is the Company's fourth acquisition since the Company listed on AIM in June 2014 and is the second chartered financial planning firm the Company has acquired since listing on AIM following the acquisition of the assets of Finlay Gow & Company Limited in July.

Today's news follows the acquisition of Hindsight Financial Services Limited in September, further underpinning AFH's strategy of select national expansion.

Commenting, Alan Hudson, Chief Executive of AFH, said: "AFH further cements its position as a leading UK IFA by selective acquisitions including Knight O'Byrne. Creating yet another national footprint we welcome Diane and Bridget to the team at a time that sees our Funds Under Management increase to a record high.

"Shareholders can expect continued strong news-flow over the forthcoming period, and the Company looks forward to providing the market with an update on trading in due course."

Enquiries:

AFH Financial Group PLC 01527 577 775

Alan Hudson, Chief Executive Officer

Paul Wright, Chief Financial Officer

www.afhfinancialgroup.com

Allenby Capital Limited 020 3328 5656

(Nominated Adviser and Broker)

Nick Naylor

Chris Crawford

Nick Athanas

Yellow Jersey PR Limited 07768 537 739

Dominic Barretto

Kelsey Traynor

This information is provided by RNS

The company news service from the London Stock Exchange

END

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