ALF Group Holdings AG – Share Reverse Split Update
(firmenpresse) - ALF Group Holdings AG – Share Reverse Split Update
Zurich (Switzerland), 8th November 2010 – The Directors of ALF Group Holdings AG (ALF) have received approximately 200 emails and calls regarding the upcoming EGM and reverse split. ALF management wants to publish this update to answer all outstanding questions at once.
A. Reverse Split:
- All shareholders who are registered to vote at the EGM are 100% in support.
- Once approved at the EGM, the reverse split will happen automatically. There is no need for shareholders to provide any details in order for the new shares to be issued to your account.
- ALF management expects that the reverse split will be finalised before the end of November and that a 1 day notice will be given.
- The issue of new CHF 1.00 shares will be made to those shareholders who own CHF 0.01 shares at the end of the last trading day of those shares.
B. 2 bonus shares provided by Kingsley Finance Co. Limited (Kingsley):
- Shareholders will need to provide their contact details. ALF will setup an email and postal address for this purpose.
- The number of shares you will be eligible for is calculated by the number of new shares received by you under the reverse split issue (above) times 2. That is, you must receive new CHF 1 shares in the reverse split. For example, if a shareholder currently owns 100,000 shares and in the reverse split these become 1,000 new shares, then he will receive an additional 2, 000 new CHF 1.00 shares for free from Kingsley.
C. Subscription Rights:
- The price for new CHF 1.00 shares subscribed for is CHF 1.00
- ALF shareholders will be entitled to subscribe for up to 5 additional shares for each share received in the reverse split (not including the free shares). In the above example of a shareholder who currently owns 100,000 shares, then under the reverse split, he will receive 1,000 new shares. Therefore, he will have the right to subscribe for up to 5,000 new CHF 1.00 shares at a price of CHF 1.00 per share.
- Timing: will be the earlier of the 4th of April 2011 or when the share price has averaged a minimum of 2 Euro for 5 working days.
- Options : Investors subscribing for additional shares using their subscription rights also receive one free option (for every share subscribed for) to purchase an additional share at CHF 1.00 at any time before 30/12/2012.
D. Post Reverse Split:
The price the shares will be relisted at is to be determined by the company and the market maker. ALF management has determined that the relist price will be between 1-00 Euro and 1-50 Euro.This could be higher if the share price increases between now and the 'reverse split day' ie the last day of their trading.
ALF management believes that a price in the above range is consistent with the company's fair value. ALF has recently announced that it has a valuation for the ALF Group Pty Ltd for AUD$125M. Also, a number of key investors who were previously precluded (by their investment guidelines) in investing in ALF shares, will now be able to invest in ALF once the market cap is over CHF 100 Million and the par value of the shares are CHF 1.00 and not CHF .01 as currently.
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.
To view:
- 2010 Interim Report: http://www.alfgroupag.com/media/documents/Interim_Report.pdf
- Audited Accounts to 30Th June 2010:
http://www.alfgroupag.com/media/documents/img-8131755-0001_pdf.pdf
- Some of ALFs projects:
http://www.alfgroupag.com/projects/australia/alf-property-1-pty-ltd.html
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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Datum: 08.11.2010 - 10:09 Uhr
Sprache: Deutsch
News-ID 26271
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