AFH Financial Group Plc Deferred Consideration (0763Z)
March 09 2017 - 12:12PM
UK Regulatory
TIDMAFHP TIDMAFHB
RNS Number : 0763Z
AFH Financial Group Plc
09 March 2017
9 March 2017
AFH FINANCIAL GROUP PLC
("AFH" or the "Company")
Issue of shares in respect of Deferred Consideration to the
vendors of Independent Financial Services (U.K.) Limited
AFH, a leading financial planning led wealth management firm,
announces the payment of the second tranche of deferred
consideration for the acquisition of Independent Financial Services
(U.K.) Limited ("IFS"), details of which were originally announced
on 1 May 2015.
Earn-out consideration comprising a cash payment of GBP296,890,
and 181,031 ordinary shares of 10 pence each ("Deferred
Consideration Shares") has been settled with the vendors of IFS
pursuant to the terms of the acquisition. The value of the Deferred
Consideration Shares equates to GBP296,891 based on the average
mid-market price of 164 pence on the five days ended 31 October
2016.
The Deferred Consideration Shares have been satisfied by the
Company through the issue of 180,639 new ordinary shares of 10
pence each in the Company ("New Ordinary Shares") on 8 March 2017
and the transfer to the vendors of IFS of 392 existing ordinary
shares of 10 pence previously held by the Company in treasury.
Application will be made shortly for the New Ordinary Shares to
be admitted to trading on the AIM market of the London Stock
Exchange ("Admission") and it is expected that Admission will
become effective on 14 March 2017.
Following the issue of the New Ordinary Shares, the issued share
capital of the Company comprises 24,368,509 ordinary shares of 10
pence, each with one voting right. The Company no longer holds
ordinary shares in treasury. Therefore the total number of ordinary
shares and voting rights in the Company is 24,368,509.
The above figure may be used by shareholders in the Company as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or change to
their interest in, the share capital of the Company under the FCA's
Disclosure and Transparency Rules.
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 information is provided by RNS
The company news service from the London Stock Exchange
END
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