AFH Financial Group PLC - Worcestershire-based financial investment management firm - Says Flexpoint raises price for takeover offer to 480 pence from 463p. Notes new price is a 46% premium to AFH's closing price of 330.0p on December 1, the date it entered into confidentiality pact with Flexpoint. New offer values AFH at GBP231.6 million. AFH adds: "The independent directors confirm that they intend unanimously to recommend that AFH shareholders vote, or procure the vote, in favour of the scheme at the court meeting and the resolutions at the general meeting." Suitors have so far received the backing of just over 60% of AFH shareholders.
Current stock price: 473.00 pence; GBP203.4 million market capitalisation
Year-to-date change: up 38%
By Eric Cunha; ericcunha@alliancenews.com
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