ALF Group Holdings AG – Plan for Early Redemption
(firmenpresse) -
ALF Group Holdings AG – Plan for Early Redemption
Sydney, Australia 27th July 2010 - ALF Group Holdings AG (AG1) the 100% owner of the ALF Group Pty Ltd and all its subsidiaries, would like to clarify its intentions regarding the current capital raising.
Among other things it is planned to give an interest free loan to ALF Group Pty Ltd of AUD $15 Million, to allow the company to on lend the funds to its 90% subsidiary ALF PIF Finance Limited (ALF PIF). Then upon compulsory acquisition of the takeover target, the Premium Income Fund, ALF PIF will make funds available to accelerate the redemption of ALF PIF preference shares utilized to acquire the Premium Income Fund.
The Premium Income Fund is currently managed by Wellington Capital Limited. ALF PIF refers to the announcement of Wellington Capital Limited on 18th November 2009 in relation to the sale of the property at 60-62 Harbour Street, Wollongong for 38 million AUD. Furthermore, ALF PIF refers to the announcement of Wellington Capital on 18th May 2010, which refers to the completion of the Icon Port project in Port Macquarie.
ALF PIF would utilize the full net proceeds from the above mentioned sale of the Wollongong project plus the full net proceeds from the sale of apartments in the Port Macquarie apartment project to redeem that amount of ALF PIF preference shares. Added to those combined proceeds would be a portion of the interest free loan, which means that redemptions of ALF PIF preference shares in excess of $50 million are expected to be made in 2010.
Mr Michael Pakula, Director of AG1, said, "we are striving to redeem almost 50% of the redeemable ALF PIF preference shares in 2010 that would be issued to unit holders of the Premium Income Fund in the event of a successful takeover being completed.”
About ALF Group Holdings AG
ALF Group Holdings AG (AG1) wholly owns ALF Group Pty Ltd and its subsidiaries, which includes one of Australia’s largest litigation funders, and a corporate restructuring services company which also provides funding and debt and equity solutions. It is also an acquirer of distressed assets.
For further information please contact:
ALF Group Holdings AG
Level 29, Chifley Tower
2 Chifley Square
Sydney, NSW 2000
Australia
Telephone +61-2-9293-2500
Fax +61-2-9293-2930
Website: www.cancanholdings.com
eMail: info(at)alfpl.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
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Sprache: Deutsch
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