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23.11.2010
ALF Group Holdings AG - Company Trading Update
ALF Group Holdings AG - Company Trading Update
Zurich - Tuesday 23rd November 2010 - The Directors of ALF Group Holdings AG (ALF) are pleased to provide the following trading update:
1. Australia:
- ALF Group Pty Ltd subsidiary, Australian Litigation Funders Pty Ltd, largest funding matter which has an expected return to ALF of approximately AUD $7.5m, is a large divorce case that has been funded for the wife. Late last week the husband passed away and we now believe that it is likely that this matter will be settled ahead of previous expectations.
- As previously announced, ALF Group Pty Ltd subsidiary, ALF Resources Pty Ltd has been issued pre IPO shares in Zeus Uranium Limited. The total investment is AUD $200,000 at a Pre IPO price of AUD .05 cents per share. The IPO has been set at an issue price of AUD .20c per share and is expected to be completed in the first quarter of 2011. ALF is negotiating an agreement with Zeus Uranium Limited whereby ALF shareholders will be able to subscribe for shares in the IPO.
Zeus Uranium Limited has issued an investor update to the Pre IPO investors. Zeus has confirmed the acquisition of a major uranium tenement adjacent to BHP Billiton's $6 bn uranium project. This update can be found on the ALF website at www.alfgroupag.com in the 'documents' section.
2. Germany
ALF have been reviewing a number of properties and the Directors are pleased to report that there are now a number of parcels of properties under direct negotiation. ALF are pleased to confirm that 2 parcels of properties are now agreed in price and final due diligence is underway to verify income and lease covenants. An ALF German Subsidiary will proceed to contract if the due diligence is found to be satisfactory.
3. USA
ALF Global Holding Corp. is:
- in the final stages of negotiation regarding the acquisition of an interest in a US based Oil and Gas producing company. This company is in the business of acquiring land and entering into tax effective limited partnerships with broker introduced investors to extract the oil and gas reserves. ALF has agreed to pay in shares for a 49% interest to strengthen their balance sheet to allow the company to meet capital adequacy requirements for raising new funds for investors in the limited partnerships.
- set to complete its acquisition of 9.9% interest in a Florida based fully compliant and profitable FDIC approved retail trading bank. Subject to regulatory approval ALF Global Holding Corp. retains the right to increase its shareholding firstly to 35% and then 49%.
4. ALF Group Holding AG - Corporate Information
- ALF's Auditors,Ferax , have committed to the following timetable:
(i) November month end - finalise 2007 ,2008 & 2009 audits to IFRS standard
(ii) December 14 - finalise consolidated accounts to 30th June 2010 to IFRS standard
(iii) January 31 - Full year consolidated (2010) audited accounts to IFRS standard
- Applications to both BaFin (for the move to the regulated market) and NASDAQ ( for a dual listing) are currently being prepared
- ALF is seeking nominations from suitably qualified people to be as appointed as independent directors in Australia, USA and Germany. ALF is in
discussion with a number of parties.
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.
To view:
- 2010 Interim Report: http://www.alfgroupag.com/media/documents/Interim_Report.pdf
- Audited Accounts to 30Th June 2010:
http://www.alfgroupag.com/media/documents/img-8131755-0001_pdf.pdf
- Some of ALFs projects:
http://www.alfgroupag.com/projects/australia/alf-property-1-pty-ltd.html
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
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 - Tuesday 23rd November 2010 - The Directors of ALF Group Holdings AG (ALF) are pleased to provide the following trading update:
1. Australia:
- ALF Group Pty Ltd subsidiary, Australian Litigation Funders Pty Ltd, largest funding matter which has an expected return to ALF of approximately AUD $7.5m, is a large divorce case that has been funded for the wife. Late last week the husband passed away and we now believe that it is likely that this matter will be settled ahead of previous expectations.
- As previously announced, ALF Group Pty Ltd subsidiary, ALF Resources Pty Ltd has been issued pre IPO shares in Zeus Uranium Limited. The total investment is AUD $200,000 at a Pre IPO price of AUD .05 cents per share. The IPO has been set at an issue price of AUD .20c per share and is expected to be completed in the first quarter of 2011. ALF is negotiating an agreement with Zeus Uranium Limited whereby ALF shareholders will be able to subscribe for shares in the IPO.
Zeus Uranium Limited has issued an investor update to the Pre IPO investors. Zeus has confirmed the acquisition of a major uranium tenement adjacent to BHP Billiton's $6 bn uranium project. This update can be found on the ALF website at www.alfgroupag.com in the 'documents' section.
2. Germany
ALF have been reviewing a number of properties and the Directors are pleased to report that there are now a number of parcels of properties under direct negotiation. ALF are pleased to confirm that 2 parcels of properties are now agreed in price and final due diligence is underway to verify income and lease covenants. An ALF German Subsidiary will proceed to contract if the due diligence is found to be satisfactory.
3. USA
ALF Global Holding Corp. is:
- in the final stages of negotiation regarding the acquisition of an interest in a US based Oil and Gas producing company. This company is in the business of acquiring land and entering into tax effective limited partnerships with broker introduced investors to extract the oil and gas reserves. ALF has agreed to pay in shares for a 49% interest to strengthen their balance sheet to allow the company to meet capital adequacy requirements for raising new funds for investors in the limited partnerships.
- set to complete its acquisition of 9.9% interest in a Florida based fully compliant and profitable FDIC approved retail trading bank. Subject to regulatory approval ALF Global Holding Corp. retains the right to increase its shareholding firstly to 35% and then 49%.
4. ALF Group Holding AG - Corporate Information
- ALF's Auditors,Ferax , have committed to the following timetable:
(i) November month end - finalise 2007 ,2008 & 2009 audits to IFRS standard
(ii) December 14 - finalise consolidated accounts to 30th June 2010 to IFRS standard
(iii) January 31 - Full year consolidated (2010) audited accounts to IFRS standard
- Applications to both BaFin (for the move to the regulated market) and NASDAQ ( for a dual listing) are currently being prepared
- ALF is seeking nominations from suitably qualified people to be as appointed as independent directors in Australia, USA and Germany. ALF is in
discussion with a number of parties.
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.
To view:
- 2010 Interim Report: http://www.alfgroupag.com/media/documents/Interim_Report.pdf
- Audited Accounts to 30Th June 2010:
http://www.alfgroupag.com/media/documents/img-8131755-0001_pdf.pdf
- Some of ALFs projects:
http://www.alfgroupag.com/projects/australia/alf-property-1-pty-ltd.html
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
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=CH0044678180">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CH0044678180</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.