AFH Financial Group Plc AGM Statement (4299G)

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RNS Number : 4299G

AFH Financial Group Plc

02 March 2018

2 March 2018

AFH Financial Group PLC

("AFH" or the "Company")

AGM Statement

Strong Recurring Revenues with funds under management in excess of GBP3bn

Four acquisitions announced since the year end and strong pipeline of prospective acquisitions

Robust Balance Sheet

At the Company's Annual General Meeting ("AGM"), to be held at 11:00am today at AFH House, Buntsford Drive, Stoke Heath, Bromsgrove B60 4JE, John Wheatley, Chairman of AFH, will update shareholders with the following statement:

"As reported in the audited results released on 29 January 2018, I am pleased to confirm that the Company's business continues to perform in line with expectations and that recurring revenue continues to remain strong as a result of the net inflow of funds during the period.

During the first four months of the current financial year the Company announced four acquisitions, paying a combined GBP1.8m in initial cash consideration. Following the recently announced acquisitions, together with continued net inflows of funds, the Company now has over GBP3bn funds under management.

During the first quarter of the current financial year, the Company made deferred payments, based on trading performance, of GBP0.4m in respect of acquisitions completed in previous periods and anticipates a further GBP0.3m to be paid during the second quarter.

As set out in the preliminary results release, the Company will pay an interim dividend of 4.0p on 4 May 2018 to shareholders on the register of members at the close of business on 20 April 2017.

I am pleased to report that both the Company's balance sheet, and pipeline of prospective acquisitions, remains strong and further selective acquisitions are anticipated during the current financial year. As at 1 March the Company had cash balances of GBP24m. The Directors remain confident that the Group is well positioned to take advantage of market opportunities as they arise."

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

This announcement is released by AFH Financial Group plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Paul Wright, Chief Financial Officer.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 02, 2018 02:00 ET (07:00 GMT)