ALF Group Holdings AG – Update Reverse Split and Letter by Major Shareholder

ID: 1020099
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(businesspress24) -
ALF Group Holdings AG – Update Reverse Split and Letter by Major Shareholder

Zurich (Switzerland), 15th November 2010 - The Directors of ALF Group Holdings AG (ALF) are pleased to provide the following update regarding both the upcoming reverse share split and new information received from Kingsley Finance Co Limited (Kingsley), the largest shareholder in ALF.

The reverse split was now fully approved by the Swiss Commercial Register and will happen automatically in the next seven days.

Kingsley has advised ALF of the following:

Kingsley has received many requests to sell shares in large numbers directly to investors (i.e. off-market). Kingsley has agreed to sell shares on market at Euro .01 per share. Kingsley will offer 20m shares on the Frankfurt exchange and 20m shares on the Xetra exchange for sale in the current week.

This will allow existing shareholders to buy in such volumes as they may wish to without driving the price of the shares up by buying ‘in quantity’ on market. Kingsley would like to give shareholders who purchased at or about Euro .10 the opportunity to reduce their average share purchase price by buying quantities of shares at Euro .01 each.

Kingsley has been in discussions with new investors who have agreed to take an interest in ALF both on and of market after the reverse split is finalized.

Kingsley support ALF’s stated plans regarding the Secondary public offering (SPO) specifically:
(i)To place up to 20M shares prior to the Secondary Public Offering (SPO) to existing shareholders and several institutional shareholders at the price of CHF 1.00 per share.
(ii)That these pre SPO shares will be a discount of 80% to the price of the SPO, which is set at CHF 5.00 (Euro 3.50).
(iii)The SPO is expected to commence in late February or early March 2011 and close by 30 June 2011.

Kingsley also stated that ‘to meet the company’s goals and expectations, the pre-SPO funds are required. To meet ALF’s huge expansion plans, the SPO must be subscribed and the share price needs to be maintained at approximately Euro 3.00 to 3.50 to achieve these goals.’



The Directors note that ‘to get 80 to 100m shares sold in a secondary public offering at 5.00 USD or 3.50 Euro, the share price needs to be constant at or about 3.50 Euro’ and that ‘Institutional buying support will be on hand, but if shareholders decide to liquidate their holdings after the reverse split the institutional investors will not buy up the entire free float.’

Kingsley has assisted ALF shareholders by agreeing to give 2 free shares (as previously stated) to investors holding ALF shares at the end of the last day of trading i.e. prior to the first day of trade of the new shares. It should also see the options available to shareholders (who hold stock at the end of the last day of trade before the reverse split) to be a valuable asset.

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: 11/15/2010 - 07:20
Language: English
News-ID 1020099
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