Zurich - 24th December 2010 - Dear Shareholders; to start the directors and staff of ALF Group Holdings AG (ALF), would like to wish all our shareholders a merry Christmas and a prosperous new year. We would like to thank all shareholders for their continued support in 2010.
We are aware that there has been some delays with the release of the news release (go to our website: http://www.alfgroupag.com/press.html) and some confusion with shareholders as to how to apply for the free shares (subject to the Terms and Conditions).
Again the relevant Terms and Conditions and Subscription Form can be found by going to our company website www.alfgroupag.com then move the cursor to investors, at that time a drop down menu appears. Click on documents, a new page appears and you are required to click on the small box that says "I have read and agree to the stated conditions." Then a new page will appear, and the Terms and Conditions are then provided in both English and German. Click on which is appropriate. Read the terms and conditions carefully, read the requirements carefully, complete the form by signing where required, attach the required statements and scan and send to @email
If you don't have the ability to scan, you can fax the required documents to fax number: +41 44 221 39 25
Moving on to 2011, below are a few highlighted issues which will be the subject of extensive and detailed releases mainly in the first quarter 2011:
ALF has pointed out in the terms and conditions, that a share buyback will be deployed by the end of the first quarter 2011 at a price of up to 3.50 Euro.
ALF is currently incorporating several German wholly owned subsidiaries to act as the purchasers of property portfolios. ALF has agreed to acquire subject to satisfactory due diligence.
ALF has executed a mutually binding offer to purchase a series of properties in Germany for 32 million Euros. The offer is subject to the purchaser (ALF German subsidiary being satisfied with the 60 day exclusive due diligence and subject to ALF obtaining funding from a German Bank.). The properties provide a net return after expenses of in excess of 9 percent. The properties are predominately residential flat buildings and small commercial properties. The most expensive commercial property is leased for 10 years to a large German corporation.
ALF has letters of offer in final stages of completion on two other portfolios of properties, respectively 19 million Euros and 27million Euros.
ALF has met with the board of directors of the Floridian Community Bank, Fort Lauderdale, Florida, USA. The banks board has approved ALF's US subsidiary making its initial 9.9 percent acquisition. This now moves to formal documentation.
ALF, US subsidiary and Floridian Community Bank to enter into joint venture to acquire distressed mortgages from the Federal Deposit Insurance Corporation (FDIC) then subsequently move to foreclose and sell property and generate profits for the joint venture.
ALF, Australian Subsidiary ALF Resources, already sitting on a substantial book profit on its investments is in negotiation on further investments in a proven gold resources and a company with substantial coal assets.
About ALF Group Holdings AG
ALF Group Holdings AG (ALF) wholly owns ALF Group Pty Ltd and its subsidiaries, which includes one of Australias 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
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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