LONDON (Alliance News) - AFH Financial Group PLC Thursday said it has issued a total of GBP2.1 million of unsecured loan notes to investors and raised GBP207,000 via a subscription by advisers to the company, money it will use in its pursuit of acquisitions to expand the business.
After issuing the unsecured loan notes, the company said it has issued warrants to the noteholders to subscribe for 428,400 new shares in AFH at an exercise price of GBP2 per share.
In addition, the company issued 137,997 shares at a price of 150.0 pence per share to eight advisers of the company, none of whom held any shares in AFH prior to the transaction, to raise a total of GBP207,000, it said.
"The proceeds from the issue of the Notes and the new ordinary shares will be used by AFH for general corporate purposes, in particular in pursuit of its stated strategy of continuing to grow its business through strategic acquisitions outside of its traditional core geographical locations," said the company.
AFH shares were down 1.5% to 148.20 pence per share on Thursday afternoon.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.