AFH seeks to buy third of former director's shares for £250k

clock

IFA consolidator AFH Financial is set to purchase more than 160,000 shares from the firm's former chief investment officer, who recently left the business.

The AIM-listed advisory and discretionary investment group is seeking shareholder approval for the acquisition of 165,666 ordinary shares from Toby Denne for £248,499. Denne stepped down from the AFH board on 1 September "to focus on other business interests", the company announced. It said he remained a "significant shareholder". He had increased his holding as recently as May, when he acquired 20,000 ordinary shares of 10p each, taking his total to more than 454,000, or about 2.27% of the total issued share capital. AFH group CEO Alan Hudson said Denne had been instrumental in th...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

March 2024: Month in review with deputy editor Jenna Brown

March 2024: Month in review with deputy editor Jenna Brown

Take a look at some of the news and feature highlights of the last month

Jenna Brown
clock 28 March 2024 • 5 min read
Wren Sterling adds £265m in client assets in latest deal

Wren Sterling adds £265m in client assets in latest deal

First advisory firm purchase of 2024 for national financial planner

Jenna Brown
clock 28 March 2024 • 1 min read
Consumer Duty Alliance looks to attract advice industry talent

Consumer Duty Alliance looks to attract advice industry talent

New Talent Alliance will be chaired by M&G Wealth Advice MD Tom Hegarty

Isabel Baxter
clock 27 March 2024 • 2 min read