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16.05.2011
ALF Group Holdings: Pre Buyback Disclosure
ALF Group Holdings: Pre Buyback Disclosure
Update on Business Activities: Mining Business, Distribution in Species, Litigation Funding, Property Acquisition
Zurich –16th May 2011 - ALF Group Holdings (ALF) lawyers have advised the Sydney Directors that before Kingsley Finance Co Limited (Kingsley) either purchase shares directly or via a third party, the company should make a general disclosure in relation to price sensitive transaction that Kingsley directors are aware of.
ALF Resources pty ltd (ALF Resources) is a daughter company of ALF Group Pty Ltd, the Australian Holding company which is in turn 100% owned by ALF Group Holdings AG. ALF Resources is the company which has acquired the interest in Zeus Uranium. ALF Resources is in discussion with several companies regarding the acquisition of large mining resources predominately high grade iron ore and coal. ALF believes it will finalise a substantial acquisition in the reasonably near future, however no formal agreement has been executed at this present time but the parties are attempting to negotiate all the terms prior to entering into any formal agreement. The first proposed acquisition will be fully funded by payment of shares in ALF resources. Post share payment to acquisitions, ALF Resources proposes to list on the Australian Stock Exchange (ASX) with an issue price of $1.00 (1 Australian dollar per share). ALF Group Holdings AG interest will be approximately 35% based on current arrangements. ALF Group Holdings AG proposes to engage in a distribution in species of the ALF Resources shares by way of a 1 ALF resource share for every 3 ALF Group shares held. These shares will be subject to a 12 months lock up. This will provide the resources company with the share spread required by the ASX, this will be an extremely generous dividend by ALF. The dividend would be equal to approximately 0.25 Euro per ALF share, however this will reduce the ALF Group interest to around 32%. Kingsley is aware of the transaction as it has brought the deals to ALF resources and it will have a direct interest in ALF resources. Kingsley will not be entitled to a dividend under the proposed agreement.
ALF Resources is also in negotiation with a number of other transactions in the resource sector.
ALF Group Holdings Pty Ltd is also significantly advanced in discussions regarding the acquisition of two major property transactions in Australia.
Australian Litigation Funders pty ltd, has 14 matters under review that it currently proposes to accept as funding matters. Several of these transactions are well beyond the funding capacity of Australian Litigation Funders however as ALF has the deals tied up a large rival litigation funder has offered to undertake these matters in a joint venture agreement with a profit share arrangement still subject to negotiation.
ALF is in negotiations with Estavis AG regarding a German property acquisition, these discussions are still ongoing.
Based on the above listed work in progress and transactions that ALF is in the process of attempting to bringing to a close, shareholders should consider the above when making decisions to sell in the buy back.
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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Update on Business Activities: Mining Business, Distribution in Species, Litigation Funding, Property Acquisition
Zurich –16th May 2011 - ALF Group Holdings (ALF) lawyers have advised the Sydney Directors that before Kingsley Finance Co Limited (Kingsley) either purchase shares directly or via a third party, the company should make a general disclosure in relation to price sensitive transaction that Kingsley directors are aware of.
ALF Resources pty ltd (ALF Resources) is a daughter company of ALF Group Pty Ltd, the Australian Holding company which is in turn 100% owned by ALF Group Holdings AG. ALF Resources is the company which has acquired the interest in Zeus Uranium. ALF Resources is in discussion with several companies regarding the acquisition of large mining resources predominately high grade iron ore and coal. ALF believes it will finalise a substantial acquisition in the reasonably near future, however no formal agreement has been executed at this present time but the parties are attempting to negotiate all the terms prior to entering into any formal agreement. The first proposed acquisition will be fully funded by payment of shares in ALF resources. Post share payment to acquisitions, ALF Resources proposes to list on the Australian Stock Exchange (ASX) with an issue price of $1.00 (1 Australian dollar per share). ALF Group Holdings AG interest will be approximately 35% based on current arrangements. ALF Group Holdings AG proposes to engage in a distribution in species of the ALF Resources shares by way of a 1 ALF resource share for every 3 ALF Group shares held. These shares will be subject to a 12 months lock up. This will provide the resources company with the share spread required by the ASX, this will be an extremely generous dividend by ALF. The dividend would be equal to approximately 0.25 Euro per ALF share, however this will reduce the ALF Group interest to around 32%. Kingsley is aware of the transaction as it has brought the deals to ALF resources and it will have a direct interest in ALF resources. Kingsley will not be entitled to a dividend under the proposed agreement.
ALF Resources is also in negotiation with a number of other transactions in the resource sector.
ALF Group Holdings Pty Ltd is also significantly advanced in discussions regarding the acquisition of two major property transactions in Australia.
Australian Litigation Funders pty ltd, has 14 matters under review that it currently proposes to accept as funding matters. Several of these transactions are well beyond the funding capacity of Australian Litigation Funders however as ALF has the deals tied up a large rival litigation funder has offered to undertake these matters in a joint venture agreement with a profit share arrangement still subject to negotiation.
ALF is in negotiations with Estavis AG regarding a German property acquisition, these discussions are still ongoing.
Based on the above listed work in progress and transactions that ALF is in the process of attempting to bringing to a close, shareholders should consider the above when making decisions to sell in the buy back.
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.