AFHP Afh Financial Group Plc

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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December 05, 2017 02:00 ET (07:00 GMT)

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