6 Sep 2017 07:00
6 September 2017
AFH FINANCIAL GROUP PLC
("AFH" or the "Company")
Issue of shares in respect of Deferred Consideration for Davisons Financial Management Limited
AFH, a leading financial planning led wealth management firm, announces the payment of the final tranche of deferred consideration for the acquisition of Davisons Financial Management Limited ("DFM"), details of which were originally announced on 6 August 2015.
Earn-out consideration includes 239,162 ordinary shares of 10 pence each ("Deferred Consideration Shares") and has been settled with the vendors of DFM pursuant to the terms of the acquisition. The value of the Deferred Consideration Shares equates to £585,947, based on the average mid-market price of 245 pence for the five days ended 4 September 2017.
The Deferred Consideration Shares have been satisfied by the Company through the issue of 239,162 new ordinary shares of 10 pence each in the Company ("New Ordinary Shares").
Application has been made for the New Ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange ("Admission") and it is expected that Admission will become effective on 12 September 2017.
Following the issue of the New Ordinary Shares, the issued share capital of the Company comprises 30,583,443 ordinary shares of 10 pence, each with one voting right. Therefore the total number of ordinary shares and voting rights in the Company is 30,583,443.
The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
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