AFH Group, a financial investment management company, acquired CTL Three Limited for £10m. Under the terms of the acquisition, the maximum purchase price is £10m dependent upon performance criteria of the business acquired. The initial consideration for the acquisition will be satisfied by a cash payment of £4.2m, funded from the Company's existing cash resources, and the issue of 26,178 ordinary shares of 10 pence each. Commenting, Alan Hudson, Chief Executive of AFH, said: "The acquisition of CTL is our third transaction of the year and significantly expands AFH's national footprint with over 240 advisers working across the UK and over £5bn of FUM. At the start of the 2017 financial year, the Board set itself three medium term financial aspirations: FUM of greater than £5bn, revenues of £75m per annum and underlying EBITDA margin of 20% on revenue. The acquisition of CTL takes our FUM to above £5bn and we remain confident of achieving the remaining targets. This is our third acquisition in the North East since June 2018 and as a result AFH now have over 50 advisers located in the region. Under Paul and his management team's leadership CTL has built a strong presence in the North East and I am pleased to welcome Paul and his team to the AFH community. I look forward to working with them to further the development of the AFH brand and continue our growth for the benefit of our new clients and to increase shareholder value."