25 Jan 2021 11:50
25 January 2021
AFH Financial Group PLC
("AFH" or the "Company")
Director/PDMR Dealing
AFH Financial Group PLC, a leading financial planning led wealth management firm, announces that further to Cortina Bidco Limited's announcement earlier today, the Company has been notified that Alan Hudson, Chief Executive Officer, has today entered into an agreement to sell 4,294,065 ordinary shares, representing approximately 9.99 per cent. of AFH's issued ordinary share capital to Cortina Bidco Limited.
Completion of this transaction will occur at the earlier of: (i) immediately following the issue of the Scheme Court Order; or (ii) the Long Stop Date, whichever is the earlier. If the Scheme Court Order has not been issued on or before the Long Stop Date, Cortina Bidco Limited will have the right, but is not obliged, to rescind the agreement to purchase these shares.
Capitalised terms not otherwise defined have the meanings given to them in Cortina Bidco Limited's announcement confirming its recommended cash offer for the Company which was made earlier today.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1 | Details of the person discharging managerial responsibilities/person closely associated
| |||||
a) | Name
| Alan Hudson
| ||||
2 | Reason for the notification | |||||
a) | Position/status
| Chief Executive Officer
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b) | Initial notification/ Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a) | Name
| AFH Financial Group plc | ||||
b) | LEI
| 213800MVLNB5CWDY8X63 | ||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a) | Description of the financial instrument, type of instrument Identification code
| Ordinary shares of 10 pence
GB00B4W5WQ08
| ||||
b) | Nature of the transaction
| Sale of ordinary shares | ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information -Aggregated volume -Price
| N/A - single transaction
| ||||
e) | Date of the transaction | 25 January 2021 | ||||
f) | Place of the transaction | Off market transaction | ||||
For further information, please contact:
AFH Financial Group PLC Alan Hudson, Chief Executive Officer Paul Wright, Chief Financial Officer
| 01527 577 775
|
Shore Capital (Nominated Adviser and Broker) Corporate Advisory: Hugh Morgan / Daniel Bush / Sarah Mather Corporate Broking: Henry Willcocks
| 0207 408 4090
|
Keefe, Bruyette & Woods (acting through Stifel Nicolaus Europe Limited) (Sole Financial Adviser to AFH) Alistair McKay, Alex Price, Dennis Towers, Tiber Karadag | 020 7710 7600 |
Yellow Jersey PR Limited (Financial PR) Joe Burgess / Georgia Colkin / Annabel Atkins
| 0776 93 25 254 |