AFH Financial Group Plc Acquisition (1536B)
08 Janvier 2018 - 8:00AM
UK Regulatory
TIDMAFHP TIDMTTM
RNS Number : 1536B
AFH Financial Group Plc
08 January 2018
8th January 2018
AFH FINANCIAL GROUP PLC
("AFH" or the "Company")
ACQUISITION OF THE ASSETS OF MONOPOLY FINANCIAL CONSULTANTS
LIMITED
The Board of AFH, a leading financial planning led wealth
management firm, is pleased to announce the completion on 5th
January 2018 of the acquisition of the assets of Monopoly Financial
Consultants Limited ("Monopoly") based in Rickmansworth,
Hertfordshire. Following the acquisition Nigel Parbrook will join
AFH as an adviser.
Under the terms of the acquisition, the maximum purchase price
is GBP631,000 subject to the fulfilment of certain financial
targets. The acquisition is expected to contribute approximately
GBP170,000 of recurring revenue to the Company.
The initial consideration for the acquisition is GBP333,000 in
cash, funded from the Company's existing cash resources. Further
deferred consideration will be payable in cash over the next 26
months in two tranches, dependent upon performance criteria of the
business acquired.
Commenting, Alan Hudson, Chief Executive of AFH, said:
"This is our third purchase of an IFA business for the current
financial year, reflecting our strong pipeline of acquisition
targets. This latest acquisition further increases our capacity in
the South East of England and I look forward to working with Nigel
for the benefit of our new clients and to increase shareholder
value."
Enquiries:
AFH Financial Group PLC 01527 577 775
Alan Hudson, Chief Executive Officer
Paul Wright, Chief Financial Officer
www.afhfinancialgroup.com
Liberum (Nominated Adviser and Broker) 020 3100 2000
John Fishley/Richard Bootle
This announcement is released by AFH Financial Group plc and
contains inside information for the purposes of Article 7 of the
Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in
accordance with the Company's obligations under Article 17 of
MAR.
For the purposes of MAR and Article 2 of Commission Implementing
Regulation (EU) 2016/1055, this announcement is being made on
behalf of the Company by Paul Wright, Chief Financial Officer.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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