ALF Group Holdings AG - Company Update and Transaction Overview
(firmenpresse) -
ALF Group Holdings AG - Company Update and Transaction Overview
Zurich, 28th September 2010 - Further to the announcement made on September 23rd, the Directors of ALF Group Holdings AG (ALF) wish to confirm that:
1. Following further discussions between both ALF and Kingsley Finance Limited (Kingsley), the major shareholder in ALF, Kingsley advise that:
- it considers that a fair value for the shares in ALF is Euro .20c per share
- Kingsley has a loan facility with ALF to provide up to AUD $20m to ALF
- Kingsley has agreed to remove the condition of selling out their shares in ALF to fund the loan
- Kingsley has agreed to provide AUD $10 Million to ALF to fund several settlements that are approaching
2. Following further discussions between ALF, Kingsley and Andrew Alexander Index Fund LP (AAIFLP), that AAIFLP have advised that:
- its fair estimate of the price of ALF shares ranges from Euro .12c to .15c.
- discussions between the parties are ongoing and a formal offer is expected to be provided to ALF this week.
3. As previously announced, ALF agreed to issue a list of current transactions and transactions at various stages of negotiation. The loan facility with Kingsley should allow for the settlement of a number of projects.
(i) Australia
- Reef Cove - a large Queensland beach side property development with in excess of AUD $30m profit forecast
- Hope Island - a large Gold Coast apartment complex project with approximately AUD $20m profit forecast
- Reviewing over AUD $40m in litigation funding claims in Australia - under negotiation
- Acquisition of AUD $45m in recoverable litigation claims from a receiver - under negotiation
(ii) USA
- Kentucky- a large apartment complex with in excess of USD $10m profit forecast
- Texas - purchase of a company that holds a major apartment complex - under consideration
- Kentucky - purchase of a substantial apartment complex - under consideration - terms offered
(iii) Germany
- Purchase of assets of bankrupt German company with 40m euro in property assets - under negotiation
- Purchase of a number of major German distressed property portfolios - under consideration
(iv) USA Investment Subsidiary
- Purchase of an initial 9.9% of a full retail USA saving bank - under MOU finalizing contract details
- Option of an additional 40% of above bank- part of MOU terms
- 30% stake in a new oil company in the USA - under negotiation
- 10% stake in US based established investment bank - under negotiation
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 and developer of distressed assets and currently has projects with an end value of over AUD $400M under contract.
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.alfgroupag.com
E-mail: info(at)alfgroupag.com
Legal Disclaimer
This press release contains forward-looking statements based on beliefs of ALF management. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements. Such statements reflect the views of ALF Group Holdings AG as of the date made with respect to future events and are subject to risks and uncertainties. Many factors could cause actual results to be materially different from those projected here, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services and changes in business strategy. ALF disclaims any intention or obligation to update these fo
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: 28.09.2010 - 14:04 Uhr
Sprache: Deutsch
News-ID 25499
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