18 December 2013
Company Announcements
Australian Securities Exchange Limited
20 Bridge Street
Sydney NSW 2000
RECAPITALISATION PROPOSAL UPDATEFirstfolio Limited (Firstfolio or Company) advises shareholders that procedural banking processes have delayed the Recapitalisation Proposal funds being provided by IZN Investments ACE Management Pty Ltd as trustee for the IZN Investments Australian Capital Enterprise Trust (Trustee) to Firstfolio.
The Trustee continues to represent to Firstfolio that the funds for the Recapitalisation Proposal are fully committed and will be remitted to Firstfolio as soon as possible.
The Company will provide a further update when the timetable for completion of the Recapitalisation
Proposal has been finalised.
Dustine PangCompany Secretary
About Firstfolio Limited
Firstfolio Limited (ASX: FFF) is a mortgages and financial services distribution business which offers a diversified range of mortgage solutions through its two key businesses; eChoice and Folio Mortgage & Finance. Firstfolio also offers its customers an alternative funding option through Firstfolio Capital.
eChoice is one of Australia's most recognised online mortgage brands, using industry leading technology to provide customers with mortgage and financial product options through convenient online portals. Folio Mortgage & Finance provides mortgage products, mortgage processing and management services, personal loan products, commercial loans, as well as equipment finance and leasing. Products are provided via a national network of mortgage brokers, affiliates and industry partners.
Loans under management (LUM) were $19 billion at 30 June 2013 - making it one of Australia's largest independent platforms for
the delivery of financial products and services.
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