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
Signup and gain exclusive members-only insights
- 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
