LONDON (Alliance News) - AFH Financial Group PLC Monday said it has bought two independent financial advisers, meaning the company has now made 12 acquisitions since listing on London's AIM market in June 2014.
In a statement, the investment management company said it is buying Quest Financial Management Ltd, an independent financial adviser in Derby, England, for up to GBP585,000, with GBP292,500 paid on completion of the deal.
AFH also said it has acquired the assets of Phoenix Independent Financial Services Ltd, an independent financial adviser in Blackburn for up to GBP489,345, with GBP240,250 paid on completion of the deal.
Any remaining money due for the acquisitions depends on performance criteria, and will be paid in two tranches over the next 26 months, AFH said.
AFH Financial shares were untraded on Monday at 146.00 pence.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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