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31.05.2011
ALF GROUP HOLDINGS AG - Date For AGM, Earnings Guidance, Share Buyback and Company Update
ALF GROUP HOLDINGS AG - Date For AGM, Earnings Guidance, Share Buyback and Company Update
Zurich, 31st May 2011 - The Directors of ALF Group Holdings AG (ALF) wish to confirm that they have set a date for the Annual General Meeting (AGM), which will be held in Zurich on Monday 25 July 2011.
The Annual Report of the Company will be available prior to the meeting together with all proposed resolutions to be put to the meeting.
Whilst the Directors would have preferred to that the AGM was held prior to 30 June, the first year of reporting across 3 continents has meant that time frames have extended past this date.
The company has subsidiaries on 2 separate continents (other than Europe), each with their own reporting period, both of which are different to each other and also from the Parent company. These entities are required to produce their own accounts so that the parent company may then produce consolidated accounts.
The Directors wish to confirm that they expect earnings before Tax, Interest, Depreciation and Provisioning will be in a range of CHF 7m to 8.5m for the period ending 31/12/10.
The company has the ability to provision substantial sums of money within the company’s litigation funding company. This in return can defer current tax liability to a future period and further, ALF will benefit substantially with the strong Australian dollar.
In the past week the share buyback has resulted in over 750,000 shares being bought on-market in the range from Euro .045 to .053.
Shares will continue to be purchased on market.
Directors wish to confirm that there are currently three main areas of focus for their time:
1. Meeting the requirements of two USA financial firms who have provided offer letters to take up major capital raisings for acquisitions of specific assets.
2. ALF have two Australian subsidiaries and we will be seeking quotation on the Australian Stock Exchange. In the event that these subsidiaries achieve their goals, we believe that these subsidiaries will generate substantial cash and capital gain for ALF.
In order to fund acquisitions for one of the above subsidiaries, ALF are negotiating a USD$100m line of credit (see 1 above).
3. The Directors continue to work finalize a number of acquisitions. Several of these acquisitions require ALF to enter into debt agreements with Banks. We have received indicative approval from a major German lender and will now work to get this and other funding facilities unconditional and thereafter draw down on same.
The USA US$100m facility is specific to the takeover of several property asset backed mortgage funds.
A term of the proposed takeover offers to several funds respective unit holders is the entity, a daughter company of ALF Group Pty Ltd,. The Australian parent entity seeks official quotation to the Australian Stock Exchange.
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@alfgroupag.com
max. Equity Marketing GmbH
Marienplatz 2, 80331 Munich, Germany
Telephone +49 89 1392889 0
Fax +49 89 1392889 29
Website: www.max-em.de
E-mail: m.fischer@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.
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Zurich, 31st May 2011 - The Directors of ALF Group Holdings AG (ALF) wish to confirm that they have set a date for the Annual General Meeting (AGM), which will be held in Zurich on Monday 25 July 2011.
The Annual Report of the Company will be available prior to the meeting together with all proposed resolutions to be put to the meeting.
Whilst the Directors would have preferred to that the AGM was held prior to 30 June, the first year of reporting across 3 continents has meant that time frames have extended past this date.
The company has subsidiaries on 2 separate continents (other than Europe), each with their own reporting period, both of which are different to each other and also from the Parent company. These entities are required to produce their own accounts so that the parent company may then produce consolidated accounts.
The Directors wish to confirm that they expect earnings before Tax, Interest, Depreciation and Provisioning will be in a range of CHF 7m to 8.5m for the period ending 31/12/10.
The company has the ability to provision substantial sums of money within the company’s litigation funding company. This in return can defer current tax liability to a future period and further, ALF will benefit substantially with the strong Australian dollar.
In the past week the share buyback has resulted in over 750,000 shares being bought on-market in the range from Euro .045 to .053.
Shares will continue to be purchased on market.
Directors wish to confirm that there are currently three main areas of focus for their time:
1. Meeting the requirements of two USA financial firms who have provided offer letters to take up major capital raisings for acquisitions of specific assets.
2. ALF have two Australian subsidiaries and we will be seeking quotation on the Australian Stock Exchange. In the event that these subsidiaries achieve their goals, we believe that these subsidiaries will generate substantial cash and capital gain for ALF.
In order to fund acquisitions for one of the above subsidiaries, ALF are negotiating a USD$100m line of credit (see 1 above).
3. The Directors continue to work finalize a number of acquisitions. Several of these acquisitions require ALF to enter into debt agreements with Banks. We have received indicative approval from a major German lender and will now work to get this and other funding facilities unconditional and thereafter draw down on same.
The USA US$100m facility is specific to the takeover of several property asset backed mortgage funds.
A term of the proposed takeover offers to several funds respective unit holders is the entity, a daughter company of ALF Group Pty Ltd,. The Australian parent entity seeks official quotation to the Australian Stock Exchange.
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@alfgroupag.com
max. Equity Marketing GmbH
Marienplatz 2, 80331 Munich, Germany
Telephone +49 89 1392889 0
Fax +49 89 1392889 29
Website: www.max-em.de
E-mail: m.fischer@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.
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.