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20.07.2011
ALF Group Holdings AG - AGM, Audited Accounts, AGM and Bonus Shares
ALF Group Holdings AG - AGM, Audited Accounts, AGM and Bonus Shares
Sydney 20th July 2011 – The Directors of ALF Group Holdings AG (ALF) wish to provide the following update on important issues relevant to future of ALF and investors in ALF.
1. Annual General Meeting:
As previously advised, ALF have been in discussions with Kingsley Finance Co Limited with regards to a takeover proposal that should be to the benefit of all shareholders in ALF.
ALF had previously announced a date for the AGM and had been working towards that date. In the interim, the takeover proposal moved from a discussion to a firm concept.
It is a legal requirement to put the proposal to Shareholders and it is fiscally responsible to table the offer to Shareholders at one meeting rather than holding an AGM and several weeks later holding an EGM.
The AGM clearly now evolves into a forum for shareholders to seek clarification and raise any concerns regarding the take over. The offer provides a superior alternative for shareholders.
The current situation is that the Australian accounts are finalised and a meeting is to take place next Monday for the directors and auditor to accept and sign the Australian accounts and as the basis of the takeover offer is now agreed, the Annual Report is being prepared for distribution at the appropriate time.
It is the Directors intention to call the AGM as soon as practicable.
2. Audited Accounts:
The Directors have finalised all requests for information from the Australian Auditors and expect to handover the Australian 2010 full year accounts to the Swiss auditors next week.
Given the takeover proposal and the necessary delay in the AGM, ALF will release the audited accounts, reflecting 2010 income and expenditure, and post these accounts on the ALF web site so that investors will have up to date information on which to use to form an opinion with regards to the takeover proposal.
The Directors confirm that the earnings of the Australian Company are in line with previously announced estimates.
3. Bonus Shares:
Kingsley Finance Co Limited offered bonus Shares in ALF to complying shareholders of ALF.
The conditions of the offer were posted on ALF’s website and an email address was advertised for shareholders who believed that they complied.
Shareholders were asked to provide certain information and also told that the email address was for receiving information only and that response to questions should not be expected.
ALF receive no benefit or income for its efforts in managing this process and for enabling the transfer of these shares. It is in ALF’s interest to finalise the transfer of these shares and ALF are meeting the bank fees for the costs of the transfers. Transfers are being made in bulk and at regular intervals. A number of investors provided all the necessary information for the shares to be transferred within the required time frame and those shareholders have now all received their bonus shares.
Delays to some transfers have been caused by a number of factors including shareholders sending the same information multiple times to multiple company email addresses and incorrect information being sent, incomplete information being sent. It is not ALF’s obligation to seek missing or incorrect information but we have and continue to contact applying shareholders asking for these details. In some instances we have made requests 4 times.
The current situation is:
- Over 50 shareholders who provided the required information have already received their bonus shares.
- A further 40 bonus shareholder transfers were sent to the Bank this week, which will be processed in the normal course of business by the Bank.
- An additional number (about 40 people) are being emailed again this week to provide their swift codes.
Finally, all the shareholders who applied for bonus shares with the March cut off date and have supplied the requested statements and swift codes will have their bonus share transfer request sent to our bank by the end of the month.
The June Bonus share cut off date transactions are being processed
Plus, we will also attempt to write to all shareholders whose particulars are on file and make specific requests where necessary and there will be a cut off date of 14 days from the making of the request by email and subsequent receipt by ALF.
Those that fail to respond to the request within 14 days will not be considered any further and the bonus shares allocated to them and currently sitting in ALF’s account will be returned to Kingsley.
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
Email: info@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.
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Sydney 20th July 2011 – The Directors of ALF Group Holdings AG (ALF) wish to provide the following update on important issues relevant to future of ALF and investors in ALF.
1. Annual General Meeting:
As previously advised, ALF have been in discussions with Kingsley Finance Co Limited with regards to a takeover proposal that should be to the benefit of all shareholders in ALF.
ALF had previously announced a date for the AGM and had been working towards that date. In the interim, the takeover proposal moved from a discussion to a firm concept.
It is a legal requirement to put the proposal to Shareholders and it is fiscally responsible to table the offer to Shareholders at one meeting rather than holding an AGM and several weeks later holding an EGM.
The AGM clearly now evolves into a forum for shareholders to seek clarification and raise any concerns regarding the take over. The offer provides a superior alternative for shareholders.
The current situation is that the Australian accounts are finalised and a meeting is to take place next Monday for the directors and auditor to accept and sign the Australian accounts and as the basis of the takeover offer is now agreed, the Annual Report is being prepared for distribution at the appropriate time.
It is the Directors intention to call the AGM as soon as practicable.
2. Audited Accounts:
The Directors have finalised all requests for information from the Australian Auditors and expect to handover the Australian 2010 full year accounts to the Swiss auditors next week.
Given the takeover proposal and the necessary delay in the AGM, ALF will release the audited accounts, reflecting 2010 income and expenditure, and post these accounts on the ALF web site so that investors will have up to date information on which to use to form an opinion with regards to the takeover proposal.
The Directors confirm that the earnings of the Australian Company are in line with previously announced estimates.
3. Bonus Shares:
Kingsley Finance Co Limited offered bonus Shares in ALF to complying shareholders of ALF.
The conditions of the offer were posted on ALF’s website and an email address was advertised for shareholders who believed that they complied.
Shareholders were asked to provide certain information and also told that the email address was for receiving information only and that response to questions should not be expected.
ALF receive no benefit or income for its efforts in managing this process and for enabling the transfer of these shares. It is in ALF’s interest to finalise the transfer of these shares and ALF are meeting the bank fees for the costs of the transfers. Transfers are being made in bulk and at regular intervals. A number of investors provided all the necessary information for the shares to be transferred within the required time frame and those shareholders have now all received their bonus shares.
Delays to some transfers have been caused by a number of factors including shareholders sending the same information multiple times to multiple company email addresses and incorrect information being sent, incomplete information being sent. It is not ALF’s obligation to seek missing or incorrect information but we have and continue to contact applying shareholders asking for these details. In some instances we have made requests 4 times.
The current situation is:
- Over 50 shareholders who provided the required information have already received their bonus shares.
- A further 40 bonus shareholder transfers were sent to the Bank this week, which will be processed in the normal course of business by the Bank.
- An additional number (about 40 people) are being emailed again this week to provide their swift codes.
Finally, all the shareholders who applied for bonus shares with the March cut off date and have supplied the requested statements and swift codes will have their bonus share transfer request sent to our bank by the end of the month.
The June Bonus share cut off date transactions are being processed
Plus, we will also attempt to write to all shareholders whose particulars are on file and make specific requests where necessary and there will be a cut off date of 14 days from the making of the request by email and subsequent receipt by ALF.
Those that fail to respond to the request within 14 days will not be considered any further and the bonus shares allocated to them and currently sitting in ALF’s account will be returned to Kingsley.
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
Email: info@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.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CH0121325671">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CH0121325671</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.