ALF Group Holdings AG – Capital Raising, Investor Presentations, Takeover and Litigation Funding Update
(firmenpresse) - ALF Group Holdings AG – Capital Raising, Investor Presentations, Takeover and Litigation Funding Update
Zurich, 28th February 2011 – The Directors of ALF Group Holdings AG (ALF) are pleased to provide the following update.
1.CAPITAL RAISING: ALF have been in negotiation with several large funds regarding the Pre Secondary placement to sophisticated investors. Arising from these discussions ALF have been able to finalise the Placement Offer and believe that the terms and pricing of the offer are compelling to those investors who understand the company’s business plans and objectives. This document has now been sent for translation and will be available mid this week to go to professional investors, institutions and family offices.
2.COMPANY PRESENTATIONS: The Directors of ALF will undertake a series of investor presentations in March and April 2011, covering the company’s current business, current business plans, rationale to the current acquisitions, a question and answer session and a chance for all interested shareholders to meet several of ALF’s Directors, Mr Byrnes and Mr Pakula, together with other ALF members, advisors and staff.
The presentations are proposed to take place in Frankfurt, Berlin, Munich, Zurich and London. The final locations and dates will be set and communicated shortly. Personal invitations will also be sent to known shareholders and subscribers to the ALF newsletter (register via the ALF website www.alfgroupag.com or email info(at)alfgroupag.com).
ALF believe that the market needs to be properly informed about the company, its business interests and the underlying value of its 100% owned assets. Today, the value of business assets just in Australia has a value of Euro 0.87 per share.
3. LITIGATION FUNDING PROPOSAL: Australian Litigation Funding Pty Ltd (100% owned subsidiary of ALF), wishes to confirm that it has provided an offer to fund all recovery actions available to ALF PIF Finance Limited (90% owned by ALF), should this company now successfully complete its current takeover offer for the Premium Income Fund (PIF).
ALF PIF Finance Limited (ALF PIF), in discussion with Australian Litigation Funders, have identified what they believe is approximately AUD$ 140,000,000 in potential claims. ALF PIF last week extended its bid to take over all the units in PIF. This was as a result of a number of requests from shareholders in PIF to continue the bid as a result of the existing PIF management failing to meet targets and promised distribution. Since ALF PIF launched the bid in May 2010, the PIF assets have shrunk from approx. AUD$ 300m to AUD$ 265m as a result of considerable losses being incurred by PIF.
ALF, with the assistance of Kingsley Finance Co Limited (Kingsley) has improved the offer by significantly increasing the paid in capital of ALF PIF Finance Limited. ALF Group Pty Ltd and Kingsley have agreed to immediately subscribe for AUD$ 5 m of shares in ALF PIF Finance Limited, thus giving the bidder over AUD$ 5m in paid in capital.
4.LITIGATION FUNDING BUSINESS UPDATE: ALF’s Australian operations are now preparing for a series of press releases and marketing initiatives to generate new business and allow it to grow its client base.
Last week, ALF finalised a Bankruptcy annulment for a client who had debts of approximately AUD$ 30 million. ALF was succeful in obtaining an annulment of the clients Bankruptcy in consideration of a payment calculated as .0000792 cents in the dollar, or AUD$ 17,000 payment for a AUD$ 30m debt.
ALF have had a number of positive results this year and are recognized within Australia amongst the most successful and leading experts in these type of matters. This area of ALF’s business provides a steady income and ALF are now expanding this business, thereby increasing this division’s revenue substantially by promoting its proven results.
ALF have a large number of new matters under due diligence and negotiation and feel that with the current workload and the new marketing campaign, ALF will significantly grow the business and achieve its profit forecasts.
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.
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
max. Equity Marketing GmbH
Maximilian Fischer, Marienplatz 2, 80331 Munich, Germany
Telephone +49 89 1392889 0 - Fax +49 89 1392889 29
Website: www.max-em.de - E-mail: m.fischer(at)max-em.de
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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