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09.02.2011
ALF Group Holdings AG – Company Update
ALF Group Holdings AG – Company Update
Zurich, Switzerland 9th February 2011. The Directors of ALF Group Holdings AG (ALF) are pleased to provide the following update.
The 2010 accounts are being finalised for the Australian wholly owned subsidiaries by the auditors. ALF expects the full year EBIT to range between 8.5m AUD and 9.7m AUD. The range is dependant on the treatment of certain expenses relating to the acquisition of ALF Group Pty Ltd and subsidiaries.
ALF Australia has begun to market its litigation funding business, which until now has had virtually 100% of lead generation come through its established contact base with legal firms and accountancy firms who recommend ALF.
We expect that this marketing focus will lead to significant new business opportunities for ALF in 2011.
Expansion and Capital Raisings
ALF Group Holdings AG has expanded into Germany and the USA.
In Germany, our ALF subsidiaries have entered into due diligence agreements to acquire:
- a 32m euro package of mixed commercial, residential and industrial properties in Germany. This due diligence is coming to a close and ALF has received a verbal offer of finance from a Swiss bank.
- a 19.7m euro major office property with a substantial Government guarantee and we are currently arranging finance.
The above two projects require almost 14m euro in equity contributions. ALF has to date provisioned 4m euro and will raise the balance in a pre secondary public offering to professional investors over the next 8 weeks.
In the USA, ALF has contracted to purchase:
- a major residential property project for 3m USD and this project requires a major refurbishment. We have transferred the funds we had provisioned to settle this project to our German project. Therefore we will raise a fresh 2.7m USD by way of pre secondary public offering to settle this project and debt fund the refurbishment during the next 8 weeks.
- an initial 9.9% equity interest in a profitable full retail Florida bank. The purchase price is 1.98m USD. In addition ALF has entered into a joint venture mortgage buyout business with the bank to acquire distressed mortgages from the Federal Deposit Insurance Corporation (FDIC) fund, foreclose and then sell the assets for a profit. ALF has agreed to invest 5m USD in capital as our share to fund these mortgage acquisitions.
- ALF has also obtained a tentative 15m USD wholesale facility from a major US bank to assist to fund the holding of properties between foreclosure and sale.
- ALF has received an agreement from Kingsley Finance Co Limited (Kingsley) to take up a 2m CHF placement in ALF by way of pre secondary public offering on the same terms that sophisticated investors and instructions will be offered. These funds are specifically for the take up of 10% of the initial public offering (IPO) available stock offering in Zeus Uranium Ltd by ALF Resources Pty Ltd.. Zeus Uranium Limited is an Australian uranium explorer, incorporated in 2009, with current focus in Western Australia.
Professional investors will be able to receive details of the private placement offering by emailing to info@alfgroupag.com and requesting details of the offering.
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
Maximilian Fischer, Marienplatz 2, 80331 Munich, Germany
Telephone +49 89 1392889 0
Fax +49 89 1392889 29
Website: www.max-em.de
E-mail: info@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, Switzerland 9th February 2011. The Directors of ALF Group Holdings AG (ALF) are pleased to provide the following update.
The 2010 accounts are being finalised for the Australian wholly owned subsidiaries by the auditors. ALF expects the full year EBIT to range between 8.5m AUD and 9.7m AUD. The range is dependant on the treatment of certain expenses relating to the acquisition of ALF Group Pty Ltd and subsidiaries.
ALF Australia has begun to market its litigation funding business, which until now has had virtually 100% of lead generation come through its established contact base with legal firms and accountancy firms who recommend ALF.
We expect that this marketing focus will lead to significant new business opportunities for ALF in 2011.
Expansion and Capital Raisings
ALF Group Holdings AG has expanded into Germany and the USA.
In Germany, our ALF subsidiaries have entered into due diligence agreements to acquire:
- a 32m euro package of mixed commercial, residential and industrial properties in Germany. This due diligence is coming to a close and ALF has received a verbal offer of finance from a Swiss bank.
- a 19.7m euro major office property with a substantial Government guarantee and we are currently arranging finance.
The above two projects require almost 14m euro in equity contributions. ALF has to date provisioned 4m euro and will raise the balance in a pre secondary public offering to professional investors over the next 8 weeks.
In the USA, ALF has contracted to purchase:
- a major residential property project for 3m USD and this project requires a major refurbishment. We have transferred the funds we had provisioned to settle this project to our German project. Therefore we will raise a fresh 2.7m USD by way of pre secondary public offering to settle this project and debt fund the refurbishment during the next 8 weeks.
- an initial 9.9% equity interest in a profitable full retail Florida bank. The purchase price is 1.98m USD. In addition ALF has entered into a joint venture mortgage buyout business with the bank to acquire distressed mortgages from the Federal Deposit Insurance Corporation (FDIC) fund, foreclose and then sell the assets for a profit. ALF has agreed to invest 5m USD in capital as our share to fund these mortgage acquisitions.
- ALF has also obtained a tentative 15m USD wholesale facility from a major US bank to assist to fund the holding of properties between foreclosure and sale.
- ALF has received an agreement from Kingsley Finance Co Limited (Kingsley) to take up a 2m CHF placement in ALF by way of pre secondary public offering on the same terms that sophisticated investors and instructions will be offered. These funds are specifically for the take up of 10% of the initial public offering (IPO) available stock offering in Zeus Uranium Ltd by ALF Resources Pty Ltd.. Zeus Uranium Limited is an Australian uranium explorer, incorporated in 2009, with current focus in Western Australia.
Professional investors will be able to receive details of the private placement offering by emailing to info@alfgroupag.com and requesting details of the offering.
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
Maximilian Fischer, Marienplatz 2, 80331 Munich, Germany
Telephone +49 89 1392889 0
Fax +49 89 1392889 29
Website: www.max-em.de
E-mail: info@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=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.