ALF Group Holdings AG – Interim Company Report and EGM Reminder for 6th August
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ALF Group Holdings AG – Interim Company Report and EGM Reminder for 6th August
Sydney, Australia 4th August 2010 - ALF Group Holdings AG (ALF) wishes to remind shareholders that an EGM has been called and will be held at 11 am on Friday 6th August at Notariat Zurich-Altstadt, Talstrasse 11, 8001 Zurich, Switzerland.
On this day, the Company will be in a position to determine and release a detailed interim report. The report will contain historical information, a detailed overview of the company’s future direction and expected income should this direction and company expectations be met.
The report will be published on the company’s web page as soon as practicably possible after the EGM.
Given the number and size of transactions under negotiation and their potential impact on the operations of the Company, it is important for shareholders wishing to vote to have a basic understanding of the company’s future intentions should all the resolutions be passed.
The below extract of the key points are a best endeavours attempt by the directors to release a vision into what may eventuate in the event of the EGM resolutions being passed.
It is important that when considering the below extracts that the full report (when it is available) is read to put them into proper context.
1. Australia
• ALF (Aust) is in negotiation to acquire a competitor litigation funding business with excellent management
• ALF Property 1 Pty Ltd (Aust) is projected to produce a profit of 30m AUD. This projection has been subject to a feasibility study by one of Australia’s largest construction management and development companies CMD (www.cmdcorp.com.au ).
• ALF Property 2 Pty Ltd (Aust) feasibility produces estimated profits of $27m AUD
• Consolidated 2010 earnings estimate for the Australian operations is $20m AUD
• Consolidated 2011 earnings estimate for the Australian operations is $30m AUD
2. USA
• ALF is currently undertaking due diligence to acquire 95% of a NASDAQ listed company trading shell. This company will be substantially owned by ALF and the expected results from the ALF interest should add substantially to ALF’s consolidated profit and loss and net tangible assets.
• ALF has made offers to acquire over $60m in high yield multi family US home properties. Offers are at 50% to 60% of projected final valuation
• ALF has over $200m of high yield Multifamily US home projects currently under review
• ALF has formed a strategic alliance with a US securities company to seek suitable acquisition targets
• ALF has entered into negotiations to acquire a 9.9% interest in a federally approved, deposit taking regional bank.
• The bank agreement (above) will give ALF direct access to acquire toxic mortgages on good assets at 33c in the dollar
• USA earnings neutral for 2010 after allowing for establishment costs
• 2011 USA Company estimated EBIT 13m USD
3. Germany
• ALF has entered into negotiations to acquire a German property Company
• ALF has entered into negotiations to acquire 20m Euro in high yield property assets
• German earnings for 2010 neutral after allowing for establishment costs
• 2011 German Company estimated EBIT 9.75m Euro
4. ALF Group Holdings AG
• Swiss Public Company ALF 2010 estimate to have direct expenses of 1.5m Euro and extra ordinary income of 4.5m Euro plus consolidated earnings from the Australian interests of $20M AUD
• Consolidated 2011 earnings estimate is approx 50m Euro
Disclaimer: This release is provided to give shareholders who propose to vote an indication of the future for ALF Group Holdings AG and companies it either owns outright and proposes to acquire in part or fully.
Profit estimates are based on:
- the directors reasonable belief that opportunities and acquisitions under review and negotiation stand a good chance of becoming a reality and
- a number of the opportunities and transactions are dependent on ALF Group Holdings AG being successfully able to raise the capital from the proposed capital increase of CHF 100m.
Should the capital raising not be fully subscribed then there is a material risk that the estimated Consolidated 50m Euro profit for 2011 will not be achieved
About ALF Group Holdings AG
ALF Group Holdings AG (ALF) 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
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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Datum: 04.08.2010 - 08:49 Uhr
Sprache: Deutsch
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