Can Can Lingerie Holding AG - ALF Group Signs New Major Strategic Alliance
(firmenpresse) -
Can Can Lingerie Holding AG - ALF Group Signs New Major Strategic Alliance
Sydney, Australia 29th March 2010 - Can Can Lingerie Holding AG (ISIN: CH0044678180 / symbol: CCH) has today received the following update from ALF Group who has previously committed to inform CCH of any new matters that are expected to generate in excess of 250,000 AUD in fees.
ALF has entered into a strategic alliance with the Sydney office of the international accounting firm Deloitte Touche Tohmatsu (www.deloitte.com.au), whereby an ALF subsidiary, Australian Corporate Restructuring Services Pty Ltd (ACRS), will refer insolvency matters to Deloitte (as an ALF co-preferred partner).
Also, a Deloittes partner has entered into a Master Funding Agreement with another ALF subsidiary, Australian Litigation Funders Pty Ltd, whereby ALF will provide funds for litigation matters stemming from Deloitte matters within the SME (small and medium size businesses) insolvency area. ALF will be considered on a priority basis where litigation funding for SME companies is needed.
The first reciprocal transactions have been entered into which are expected to generate approximately 100,000 AUD (65,000 Euro) in fees to ALF. It is anticipated that this new relationship should generate fees for ALF in the range of 100,000 AUD - 200,000 AUD per month which is approximately 1.2 million AUD - 2.4 million AUD (0.8 million Euro - 1.6 million Euro) per annum.
About CCH
At the upcoming AGM, scheduled for 12th April 2010, CCH will seek shareholder approval to make a significant change to the nature and scale of the business activities of CCH.
The Directors of CCH anticipate the rapid growth of the new acquisition (50% of ALF Group Singapore Pte Ltd) and given its current opportunities, believe that it is in the best interests of all shareholders to concentrate CCH resources in maximising the return from the acquisition. This may include CCH exercising its option to purchase the remaining 50% of the ALF Group that it does not already own.
Upon completion of the share sale agreement by shareholders approving the ALF Group acquisition, CCH will own 50% of one of Australia’s largest litigation funders which also provides corporate restructuring services, funding and debt and equity solutions. It is also an acquirer of distressed assets.
To more accurately reflect the company’s activities, it is proposed to change the name of the company to ALF Group Holdings AG, at the next AGM.
For further information please contact:
Can Can Lingerie Holding AG
77-79 Anzac Parade
Kensington, NSW 2033
Australia
Tel.: +61 2 9663 2842
Website: www.cancanholdings.com
eMail: info(at)cancanholdings.com
public eye CONSULTING BUSCHE
Karsten Busche
Managing Director
Tel.: +49 30 43 05 89 22
eMail: info(at)publiceye-consulting.com
Leseranfragen:
Can Can Lingerie Holding AG
HEAD OFFICE
77-79 Anzac Parade
Kensington, 2033
Sydney, NSW, Australia
Ph: 02 9663 2842
Fax: 02 9663 2638
Email: reception(at)cancan.com.au
Datum: 29.03.2010 - 10:16 Uhr
Sprache: Deutsch
News-ID 18215
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