Aston Hill Announces Second Quarter 2011 Results

CALGARY, Aug. 18, 2011 /CNW/ -- 
CALGARY, Aug. 18, 2011 /CNW/ - Aston Hill Financial Inc. (the "Company"
 or "Aston Hill") (TSXV: AHF) announces it has filed the unaudited
 interim consolidated financial statements for the period ended June 30,
 2011 and related Management Discussion and Analysis with Canadian
 Securities Regulatory Authorities.


Recurring revenues for the second quarter of 2011 were approximately
 $3.5 million as compared to $2.0 million in the second quarter of 2010,
 representing a 75% year over year increase. As of June 30, 2011, Aston
 Hill had approximately $3.4 billion in Assets under Advisory and
 Management ("AUM") versus $2.0 billion at June 30, 2010, representing
 an increase of 70%.


Subsequent to quarter end, on July 27, 2011, the Company closed a series
 of transactions that have a material impact on its business. The
 Company completed a bought deal financing of 6.00% extendible
 convertible unsecured subordinated debentures in the aggregate
 principal amount of $40.25 million trading on the TSX Venture Exchange
 under the symbol AHF.DB.


Concurrently, on July 27, 2011, Aston Hill purchased all of the issued
 and outstanding shares of BFML Management Limited ("BFML") for cash
 consideration of $28.0 million which holds the management contracts for
 7 closed-end funds, previously managed by Brompton Funds Management
 Limited, representing approximately $800 million in AUM. Also,
 concurrently with this acquisition and the financing, Aston Hill
 acquired the business of Morrison Williams Investment Management LP and
 its wholly-owned subsidiary, Morrison Williams Capital Advisors Inc.
 (together referred to as "Morrison Williams") for cash consideration of
 $11.5 million. The acquisition of Morrison Williams represents $1.6
 billion in assets under management in institutional and other pension
 related investment funds. These two acquisitions increase Aston Hill's
 AUM from $3.4 billion to approximately $5.8 billion.


Aston Hill is an asset management company with expertise in income
 products, energy investments and oil and gas property management. Aston
 Hill has offices in Calgary and Toronto.


The TSX Venture Exchange has neither approved nor disapproved the
 information contained herein.


Forward-Looking Statements: This news release contains certain "forward-looking statements" within
 the meaning of such statements under applicable securities law.
 Forward-looking statements are frequently characterized by words such
 as "plan", "continue", "expect", "project", "intend", "believe",
 "anticipate", "estimate", "may", "will", "potential", "proposed" and
 other similar words, or statements that certain events or conditions
 "may" or "will" occur. These statements are only predictions. Various
 assumptions were used in drawing the conclusions or making the
 projections contained in the forward-looking statements throughout this
 news release. Forward-looking statements are based on the opinions and
 estimates of management at the date the statements are made, and are
 subject to a variety of risks and uncertainties and other factors that
 could cause actual events or results to differ materially from those
 projected in the forward-looking statements.


For a detailed description of the risks and uncertainties facing the
 Company and its business and affairs, readers should refer to the
 Company's annual financial statements and management discussion and
 analysis for the year ended December 31, 2010, both of which are
 available at www.sedar.com. The Company undertakes no obligation to update forward-looking
 statements if circumstances or management's estimates or opinions
 should change, unless required by law. The reader is cautioned not to
 place undue reliance on forward-looking statements.


To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/August2011/18/c4710.html



p  /p table border="0" valign="top" tr td nowrap="nowrap" Eric Tremblaybr/ Chief Executive Officerbr/ Aston Hill Financial Inc.br/ [phone] /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap"   /td td nowrap="nowrap" Larry Titleybr/ Vice President and CFObr/ Aston Hill Financial Inc.br/ [phone] /td /tr /table p   /p 

Copyright