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News
26.04.2011
ALF Group Holdings AG - Euro 6 million in new equity and capital raising now limited to further Euro 5 million
ALF Group Holdings AG - Euro 6 million in new equity and capital raising now limited to further Euro 5 million
Zurich, 26.April 2011: The Directors of ALF Group Holdings AG (ALF) are pleased to announce that they have accepted the terms of an offer from a US based investment Fund. The Fund will provide up to 6 million Euro in amounts sought by ALF issuing a draw down request on the Investment Fund.
The Parties are presently working towards final documentation, which is anticipated to be completed during the coming weeks. The Fund will place stock with investors, in most cases in blocked trades off market.
Further, the Board of Directors believe that with the funds from these draw downs, plus what is expected from subscriptions from current investors, ALF will shortly be in a position to settle acquisitions in Germany and the USA.
Based on the current share price and the expected share price post settlement, the Board has decided to reduce the current capital raising to a total of 11m Euro, which includes the 6m Euro now provisioned to come from the US investment Fund.
The Board will reconsider further capital raisings post AGM, post finalization of the 11m Euro raising and deployment of those funds to settle acquisitions.
The Directors now believe this signifies a major turning point in ALF’s history.
James Byrnes, CEO of ALF: “We are pleased to welcome a substantial institutional investor to our share register. It shows the trust in our business model and our strategy of making investments in various sectors, mainly real estate, litigation funding and mining. With the funds generated we are able to close major acquisitions and we also expect that this investment will help to increase the company´s market value.”
“With the Capital raising now attracting some serious interest from sophisticated investors, I believe that the very attractive pricing of the final 5m Euro being the balance of capital being raised is far more attractive for our investors.”
For those investors wishing to participate in the capital raising please send an email to subscription@alfgroupag.comto request a copy of the information memorandum and subscription agreement.
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, 26.April 2011: The Directors of ALF Group Holdings AG (ALF) are pleased to announce that they have accepted the terms of an offer from a US based investment Fund. The Fund will provide up to 6 million Euro in amounts sought by ALF issuing a draw down request on the Investment Fund.
The Parties are presently working towards final documentation, which is anticipated to be completed during the coming weeks. The Fund will place stock with investors, in most cases in blocked trades off market.
Further, the Board of Directors believe that with the funds from these draw downs, plus what is expected from subscriptions from current investors, ALF will shortly be in a position to settle acquisitions in Germany and the USA.
Based on the current share price and the expected share price post settlement, the Board has decided to reduce the current capital raising to a total of 11m Euro, which includes the 6m Euro now provisioned to come from the US investment Fund.
The Board will reconsider further capital raisings post AGM, post finalization of the 11m Euro raising and deployment of those funds to settle acquisitions.
The Directors now believe this signifies a major turning point in ALF’s history.
James Byrnes, CEO of ALF: “We are pleased to welcome a substantial institutional investor to our share register. It shows the trust in our business model and our strategy of making investments in various sectors, mainly real estate, litigation funding and mining. With the funds generated we are able to close major acquisitions and we also expect that this investment will help to increase the company´s market value.”
“With the Capital raising now attracting some serious interest from sophisticated investors, I believe that the very attractive pricing of the final 5m Euro being the balance of capital being raised is far more attractive for our investors.”
For those investors wishing to participate in the capital raising please send an email to subscription@alfgroupag.comto request a copy of the information memorandum and subscription agreement.
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.