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AFH Financial Group

  • BY: Andrew Hore |
  • POSTED: 21/02/2014 |

IFA AFH Financial Group plans to move from ISDX Growth Market to AIM by the summer. 

AFH has appointed Allenby as nominated adviser and broker. The move will help AFH to finance further acquisitions and improve the liquidity of the shares. AFH has grown via acquisition since joining ISDX.

Paul Wright has been appointed finance director. He has been the finance director of a number of quoted companies, most recently AIM-quoted software supplier WorkPlace Systems International, which was taken over for 41m at the beginning of 2012. He is currently a director of Oxford United Football Club. Eversheds partner Sue Wright has become a non-executive director.

At 137.5p a share, AFH is valued at 23.5m. The share price has risen by 29% over the past year. AFH floated on 23 June 2011 and was valued at 10.9m at 80p a share. Last year a maiden dividend of 1p a share was paid.

AFH will report its figures for the year to October 2013 on 31 March.

AFH has 8% unsecured bonds due for repayment in 2020 and these will continue to be traded on ISDX.

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