AFH Financial Group Plc Historical related party transaction (3251F)
13 Novembre 2020 - 4:38PM
UK Regulatory
TIDMAFHP TIDMAFHB
RNS Number : 3251F
AFH Financial Group Plc
13 November 2020
13 November 2020
AFH Financial Group plc
("AFH" or the "Company")
(AIM: AFHP)
Historical related party transaction
In December 2019, the Company entered into an agreement with
Ralph Mortlock, a director and previous owner of Eunisure Limited
("Eunisure"), the wholly-owned Protection Broking subsidiary of
AFH, pursuant to which, if Eunisure were ever disposed of in the
future at a price meeting certain minimum criteria, a commission of
not more than 5% would be paid to Mr Mortlock following any such
sale.
Whilst the Company is not currently seeking to dispose of
Eunisure, the disclosure of this agreement is required since it has
recently been identified as a related party transaction under Rule
13 of the AIM Rules for Companies by virtue of Mr Mortlock's
position as a director of a subsidiary of the Company. The
Directors of the Company consider that the terms of the transaction
were fair and reasonable at the time, insofar as AFH's shareholders
are concerned.
For further information please contact:
AFH Financial Group PLC 01527 577 775
Alan Hudson, Chief Executive Officer
Paul Wright, Chief Financial Officer
Shore Capital NOMAD and sole broker 020 7408 4090
Hugh Morgan / Daniel Bush / Sarah Mather
Yellow Jersey PR Limited (Financial PR) 07748 843 871
Joe Burgess / Annabel Atkins / Dom Barretto
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END
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(END) Dow Jones Newswires
November 13, 2020 10:38 ET (15:38 GMT)
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