AFH Financial Group Plc ACQUISITION OF CWP FINANCIAL SERVICES (1081H)

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RNS Number : 1081H

AFH Financial Group Plc

13 November 2018

AFH FINANCIAL GROUP PLC

("AFH" or the "Company")

ACQUISITION OF CWP FINANCIAL SERVICES LIMITED

The Board of AFH, a leading financial planning led wealth management firm, is pleased to announce the completion of the acquisition of CWP Financial Services Limited ("CWP") based in Ashford, Kent. Following the acquisition Bob Perry will retire and the clients of CWP will be serviced by existing AFH advisers.

Under the terms of the acquisition, the maximum purchase price is GBP890,000 based on the ongoing recurring revenue of the business subject to the fulfilment of certain financial targets.

The initial consideration for the acquisition is GBP470,000 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 latest acquisition further enhances our position in the South East of England and continues our strategy of providing a stable and well capitalised business within which the clients of retiring IFAs can continue to receive appropriate professional advice and investment management."

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/Euan Brown

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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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November 13, 2018 02:00 ET (07:00 GMT)

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