ALF Group Holdings AG - EGM and Resolution Summary
(firmenpresse) - ALF Group Holdings AG - EGM and Resolution Summary
Zurich (Switzerland), 12th October 2010 – ALF Group Holdings AG (ALF) Directors set today the date for an EGM. The meeting will be held on 8th November 2010. The details of the meeting will be published on Monday, 18th October 2010.
Key points:
-Reverse Split: ALF seeks approval from shareholders to undertake a reverse split which will result in all new shares having a nominal value of CHF 1.00. The current shares will be cancelled upon being swapped at the ratio of 100 existing CHF 0.01 shares to 1 new CHF 1.00 share.
-Subscription Rights: ALF will offer shareholders the right to acquire 5 additional new shares for every new share that is provided by ALF under the reverse split. Each new share offered will be at the nominal value of CHF 1.00 each.
-Free Option: ALF will offer shareholders who take up the above offer 1 free option exercisable at CHF 1.00 on or before 30th of December 2012 for each share they subscribe for in the rights issue.ie up to 5 additional new shares per share issued under the reverse split.
-Kingsley Compensation Share Payment: ALF has obtained an agreement from Kingsley Finance Co. Limited (Kingsley), ALF’s largest shareholder, which will see Kingsley provide to all shareholders 2 free fully paid CHF 1.00 shares for each new CHF 1.00 share they receive in the reverse split. Kingsley recognize how important the reverse split is to the future plans of ALF and that ALF was precluded from issuing free shares in its own right, so for existing shareholders to receive ‘fair value’, Kingsley have agreed to the above compensation.
-US Capital Raising - ALF proposes to set an issue price CHF 5.00 for 80 million out of the 100 million new CHF 1.00 shares that are being made available for the proposed capital raising.
SUMMARY: The above proposals result in current shareholders being provided a significant discount to the issue price that is proposed for new investors.
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 forward-looking statements.
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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