AFH Financial Group Plc Acquisition (3560Y)
December 05 2017 - 1:00AM
UK Regulatory
TIDMAFHP TIDMTTM
RNS Number : 3560Y
AFH Financial Group Plc
05 December 2017
5 December 2017
AFH FINANCIAL GROUP PLC
("AFH" or the "Company")
FURTHER ACQUISITION OF INDEPENDENT FINANCIAL ADVISERY
BUSINESS
The Board of AFH, a leading financial planning led wealth
management firm, is pleased to announce the completion on 4
December 2017 of the acquisition of the assets of J W Wealthcare
Ltd, based in the South East of England (the "Acquisition").
Following the Acquisition, John Walpole will join AFH as an
adviser.
Under the terms of the Acquisition, the combined maximum
purchase price is GBP1.1m, payable in cash over the next 26 months
in four tranches, dependent upon performance criteria being met.
The Acquisition is expected to contribute an aggregate of
approximately GBP300,000 of recurring revenue to the Company.
Commenting, Alan Hudson, Chief Executive of AFH, said:
"I am pleased to welcome John to AFH and look forward to working
with him to continue our growth within the South East."
"This acquisition, our second since 1(st) November, highlights
the continued high level of activity that we are seeing in the
market and continues our strategy of enhancing our organic growth
with selective acquisitions."
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 information is provided by RNS
The company news service from the London Stock Exchange
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