AF Legal Group Limited (ASX:AFL) entered into a binding Heads of Agreement to acquire Withnalls Lawyers for AUD 0.89 million on October 25, 2021. AF Legal Group Limited will acquire 51% of Withnalls for upfront cash consideration of AUD 447,287 and upfront script consideration of AUD 447,287. The transaction is subject to the due diligence and finalizing transaction documentation.

Withnalls recorded over AUD 2.5 million in professional fees for the financial period ending 30 June 2021. This announcement has been approved by the Board of AFL. The acquisition is expected to be highly earnings accretive for the Company.