ALF Group Holdings AG – Post EGM Update

ID: 1020065
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ALF Group Holdings AG – Post EGM Update

Zurich (Switzerland), 11th November 2010 - Further to the unanimous approval of all resolutions put to Shareholders at the EGM on 9th November 2010, ALF Group Holdings AG (ALF) wishes to provide the following update:

- The Swiss notary has completed all documentation and has completed this part of the process
- ALF's Swiss auditors have provided all necessary documents approving all the resolutions, including the capital raising and reverse split
- ALF has executed the necessary board minutes adopting all resolutions
- The Swiss commercial trade registrar has received and approved all documents and ALF has paid the required fees. The trade register has confirmed that the notifications and changes will be entered within 3 working days.

The Directors of ALF have spoken with the company's sponsoring bank, Bankhaus Reuschel, and has advised that the relevant global share certificate will be delivered to the bank before the end of this week. The board of Directors has asked Bankhaus Reuschel to give ALF 5 clear days’ notice of the reverse split shares being transferred automatically via Clearstream to shareholders accounts. We expect the reverse split to be effective between the 18th and the 23rd of November 2010.

We note that investors wishing to take part in the free share offer from Kingsley Finance Co. Limited must have current shares in their account when the share swap is completed, i.e. showing in their bank statement on the last day of trading of the current CHF .01 shares.

On a separate note, ALF has negotiated a number of transactions that required payment via a mixture of cash and shares and such shares have been approved for issue in the EGM. A number of these transactions can now proceed to contract and / or closing.

We wish to confirm that ALF Resources Pty Ltd, a 100% owned subsidiary of ALF Group Pty Ltd, has acquired a stake in pre-IPO placement in Zeus Uranium Limited in Australia.



ALF has subscribed for 2.25% of the total stock of Zeus at a pre-IPO price of .05c AUD per share. The AUD $20M IPO will be done in Q1/2011 and is being sold at .20c, meaning ALF will show a paper profit on day 1 of AUD $600,000.

Zeus owns substantial uranium exploration leases in Australia and is led by a strong management team. More information can be found on www.zeusuranium.com.

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(at)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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Date: 11/11/2010 - 05:55
Language: English
News-ID 1020065
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