AFH Financial Group , a leading independent financial advisory and discretionary wealth management firm, has announced that the Company has received firm commitments to subscribe for a total of 1,157,854 ordinary shares of 10 pence each in the Company (Ordinary Shares) at a price of 140p per share (the Subscription).
The proceeds of the Subscription, amounting to GBP 1.62 million (before expenses), will be used to provide additional working capital for the Company and to finance potential future acquisitions.
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Of the Ordinary Shares to be issued in the Subscription, 507,855 have been allotted and will be admitted to trading on the ISDX Growth Market today, 4 April 2014; the remaining 649,999 Ordinary Shares will be allotted and admitted to trading on the ISDX Growth Market on 7 April 2014.
Following the issue of the initial 507,855 Ordinary Shares in the Subscription, the Company’s issued share capital comprises 17,622,363 Ordinary Shares. The figure of 17,622,363 Ordinary Shares 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 a change to their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.
On completion of the Subscription on 7 April 2014, the Company’s issued share capital will comprise 18,272,362 Ordinary Shares.
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