ALF Group Holdings AG – All resolutions unanimously approved at AGM
(firmenpresse) - ALF Group Holdings AG – All resolutions unanimously approved at AGM
Sydney, Australia, 6th August 2010 - ALF Group Holdings AG (ALF) wishes to advise that at the Extraordinary General Meeting of the Company held today, the company’s shareholders unanimously approved all proposals put forward by the Board of Directors.
At ALF’s Extraordinary General Meeting today in Zurich, shareholders approved:
•a capital increase in the amount of CHF 5,300,000 and the subsequent issue of 530,000,000 shares with a nominal value of CHF 0.01 for the acquisition of the remaining 50 percent equity in ALF Group Pty Ltd.
•a capital increase in the amount of CHF 100,000,000 and the subsequent issue of 100,000,000 shares with a nominal value of CHF 1.00 for the purpose of raising additional capital to support the growth of the company.
•a capital increase in the amount of up to CHF 230,000,000 and the subsequent issue of up to 230,000,000 shares with a nominal value of CHF 1.00 regarding the planned share swap.
As previously announced, the board of Directors will issue a new class of ALF Group shares with a nominal value of 1.00 CHF, and an issue price of 1.00 CHF, which will replace the existing 0.01 CHF shares. The company will now seek to have the new 1.00 CHF shares registered and available to be listed on the Frankfurt Stock Exchange and will start the process to remove the current 0.01 CHF shares from official quotation. Existing shareholders will be given a set time to enable the smooth transfer of their ‘old’ shares to ‘new’ shares.
Based on a nominal value of 1.00 CHF per new share (approximately 0.75 Euro), a share swap rate of 3 -1 implies that the old shares have a value of 0.25 Euro per existing ALF share ie 0.75 Euro / 3 = 0.25 Euro. The Directors are convinced that this reflects fair value based on the company’s valuation, retained earnings, net tangible asset backing and analysts estimates.
Assuming the full placement of 100 million new shares and a complete share swap there will be 330 million shares with a nominal value of CHF 1.00 issued and listed in total after the EGM.
Mr Michael Pakula, Director of ALF Group Holdings AG, said, "This EGM result is a defining moment for the Company. It completes the major structural change in ratifying the purchase of 100% of the ALF Group and it allows us the opportunity to seek the funding to enable the Company to fully implement its previously announced growth strategy. ”
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
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: 06.08.2010 - 13:15 Uhr
Sprache: Deutsch
News-ID 24629
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