AFHP Afh Financial Group Plc

TIDMAFHP

RNS Number : 4649E

AFH Financial Group Plc

10 February 2015

10 February 2015

AFH FINANCIAL GROUP PLC

("AFH" or the "Company")

ACQUISITION

AFH acquires K.L. Plester Financial Services Holdings Limited

The Board of AFH is pleased to announce the acquisition of K.L. Plester Financial Services Holdings Limited ("Plester"), based in Kidderminster, Worcestershire. The acquisition of Plester, which was completed on 9 February 2015, represents the seventh acquisition since the Company listed on AIM in June 2014 and the fourth during the current financial year.

The Plester acquisition will add approximately GBP600,000 per annum of recurring revenue to the Company. Jon Rowe and Keith Plester's clients will be taken over by AFH's existing advisers following their retirement on completion. Peter Machin, a director and shareholder of Plester, will join AFH with immediate effect as a financial adviser.

Under the terms of the acquisition, the maximum consideration payable by AFH is GBP1,717,200 in cash. This will be satisfied by a cash payment on completion of GBP745,200, followed by a further cash consideration of up to GBP972,000, payable over the next 26 months in two tranches, dependent upon the performance of Plester over the next two years. The consideration will be satisfied from AFH's existing cash resources.

Commenting, Alan Hudson, Chief Executive of AFH, said:

"We are pleased to announce the acquisition of Kidderminster-based Plester. It is good that the flexibility of our acquisition model accommodates the varying needs of the principals within the business. In this case, allowing the retirement of Jon and Keith, and the continuance of Peter's career within a larger group, with all three able to crystallise the value in their business. I look forward to working with Peter in the years to come."

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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