Can Can Lingerie Holding AG – 20 million AUD debt facility for ALF Group
(firmenpresse) -
Can Can Lingerie Holding AG – 20 million AUD debt facility for ALF Group
Kensington, 11th February 2010 - Can Can Lingerie Holding AG (ISIN: CH0044678180 / symbol: CCH) is pleased to announce that ALF Group Pty Ltd, a wholly owned subsidiary of ALF Group Singapore Pte Ltd (“ALF Group”), has, today, executed a binding loan agreement with its financiers for a debt facility (which includes the provision of bank guarantees, mortgage funding and a working capital facility) of an aggregate total of a maximum of 20 million AUD (approx. 12.2 million Euro). The term of the facility is for a period of 4 years.
A condition precedent of the drawdown of funds pursuant to the loan agreement is the approval by shareholders of CCH of the acquisition of 50% of the ALF Group of companies.
As a result of the CCH acquisition Ms Cathrine Byrnes, the founding director of ALF has nominated to join the Board of CCH and subject to shareholder approval will be appointed to the Board at the forthcoming, imminent Annual General Meeting of CCH.
Ms Cathrine Byrnes, Director of ALF Group, commented as follows, “We are excited about this funding facility and the growth it can offer to the ALF Group.”
Mr Michael Pakula, Director of CCH, said, “This is a milestone agreement for ALF and impacts positively on CCH via its acquisition of 50% of the ALF Group. With the working capital available from this loan agreement the ALF Group will be able to further progress its corporate reconstruction, insolvency and litigation funding businesses, thereby unlocking greater value for CCH.”
About CCH
Can Can Lingerie Holding AG develops, acquires or invests in innovative companies operating or expanding internationally. We leverage our expertise in international operations and expansions with a focus on emerging markets and China, as we believe emerging markets provide an excellent environment for growth. We also believe innovative companies provide opportunity for growth in all international markets. By developing and partnering with innovative companies and taking advantage of the benefits of operating in emerging markets we maximize growth potential.
To more accurately reflect the company’s activities, it is proposed to change the name of the company to Can Can Holding AG, at the next AGM.
For further information please contact:
Can Can Lingerie Holding AG
77-79 Anzac Parade
Kensington, NSW 2033
Australia
Tel.: +61 2 9663 2842
Website: www.cancanholdings.com
eMail: info(at)cancanholdings.com
public eye CONSULTING BUSCHE
Karsten Busche
Managing Director
Tel.: +49 30 43 05 89 22
eMail: info(at)publiceye-consulting.com
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Can Can Lingerie Holding AG
HEAD OFFICE
77-79 Anzac Parade
Kensington, 2033
Sydney, NSW, Australia
Ph: 02 9663 2842
Fax: 02 9663 2638
Email: reception(at)cancan.com.au
Datum: 11.02.2010 - 03:36 Uhr
Sprache: Deutsch
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