www.alfgroupag.com/media/documents/...y%20German%20Version.pdfALF Group Holdings AG - 2010 Audited Australian financial results, ALF
Auditor, ALF to commence legal action for libel & bonus share update
Sydney 28th July 2011 - ALF directors are aware of a growing number of
people who have been making incorrect statements regarding ALF in a
number of blogs. This has added substantially to the genuine concerns of
investors and has put substantial pressure on the company Share Price.
Furthermore, this has substantially increased requests for information from
shareholders who have stated that they had read what is clearly incorrect
information by uninformed trouble makers. ALF now produce our Australian
Daughter company’s results, confirm ALF’s new auditor, (subject to
shareholder approval), and confirm bonus share distribution. The negative,
false, and misleading, deceptive, defamatory, and libelous statements have
caused the share price to fall. ALF have now requested our Frankfurt based
lawyers to write to the blog moderators and demand details of all users who
have written incorrect statements. These people will be given the opportunity
to make a public retraction and an unreserved apology. Failing their complete
co-operation we have instructed our lawyer to commence legal proceedings
against these people. We are not inviting a discussion with people who have
made wrong statements; these people can save that defense for the judge.
Should any investor wish to evade this action they should immediately retract
all blog statements and not publish harmful statements against the company.
Bonus shares too seem to be a real issue for shareholders. We now confirm
that all shareholders who have complied with obligations for the early release,
which was March 31, have either now received their bonus shares or their
bonus shares are being transferred. We encourage shareholders to advise
their bank to accept the incoming share transfers. Those who have requested
the bonus shares as at the 30th of June are being written to today to supply
Swift codes and any other outstanding requests. We wish to finalise the 30th
of June request by the end of next week. It has been extremely unhelpful to
receive multiple requests from shareholders to all known ALF email accounts;
this causes substantial delays; also we have received over 300 requests for
bonus shares from shareholders who did not own shares as of the date of the
reverse split. The sheer waste of time spent dealing with these requests is
unhelpful. Your Board wants to see all shareholders who supported ALF get
what was promised. This is happening and we wish to complete all transfer
requests by 14 August 2011.
Appointment of Swiss Auditor: the directors have engaged BCW Consulting
Gmbh . BCW are a small but competent firm of accountants and auditors.
The Swiss Public company is a holdings company and its accounts are very
simple once the daughter company accounts are consolidated by the IFRS
compliant Australian Auditors and presented for the Swiss auditor to
consolidate with the Swiss company accounts. These Swiss company
accounts are limited to normal running costs, legal, cost of holding EGM’s and
AGM’s, accounting and auditing expenses and any director’s fees. The
Alf Group Holdings AG Level 29, Chifley Tower 2 Chifley Square Sydney NSW 2000
ISIN CH0044678180
appointment of the auditor is done by the board of directors and ratified at the
company AGM. This would likely be the second resolution. Upon ratifying the
Swiss auditor’s appointment the next resolution is to accept the Swiss
accounts which will have been tendered 20 days before the AGM.
We are advised that the Swiss Auditor believes it will be approximately 7
working days to consolidate the Australian audited accounts and the Swiss
accounts.
Australian Audited accounts
The Australian Consolidated IFRS standard Audited accounts will be
uploaded onto the company web site with resent releases within 24 hours.
The accounts summary reflects a net profit for the period 1 January 2010 to
31 December 2010 of $7,986,616.00.
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