Ad-hoc | 13 February 2012 07:00
NEW VALUE AG / Key word(s): Miscellaneous
13.02.2012 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR
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New Value prepares itself for the future
Bridge financing of CHF 1 Mio. secured. Operative activity to be continued
- likely write down of Solar Industries AG - closure of Mycosym
International AG and write off of convertible loan - concentration on
further development of the existing portfolio
Zurich, 13 February 2012 - For the running operative costs and financing of
the portfolio companies the venture capital company New Value AG has closed
with Angst & Pfister Holding AG, a traditional Swiss industrial company in
Zurich, a bridge financing of CHF 1 Mio. Angst & Pfister Holding AG has
confirmed their continued willingness to finance New Value. Furthermore,
35'000 own shares were sold in a Block Trade to one shareholder.
The Board of Directors has given a renown consulting firm the mandate to
investigate the circumstances that have already led to write downs as well
as the resignation of the former Chairman, Rolf Wägli. The results are
expected in a couple of weeks. The Board of Directors has also checked to
what extent the portfolio companies can be affected by the actions of the
former Chairman.
Solar Industries AG as the most important investment of New Value AG, has
itself started an analysis of its financial situation. Rolf Wägli as
Chairman of Solar Industries AG has also for this company completed
actions, which have led to a tight liquidity situation. New Value AG
assumes write downs of its investment in Solar Industries AG, but their
extent are not yet known or determined.
Mycosym International AG is a further portfolio company of New Value AG
active in plant technology, which develops biological soil additives with
the use of the Mycorrhiza technology. The main domicile is in Basel. The
operative activity is in Spain. For efficiency reasons Mycosym
International AG will be closed. All activities will be moved to Spain. The
convertible loan to Mycosym International AG amounting to CHF 1'1 Mio. will
be written off entirely by New Value AG.
With the completion of the mandated investigations and of these write
downs, New Value AG intends to emphasise concentrating on the further
development of the most promising companies in its portfolio.
Further information regarding New Value
New Value is the pioneer for direct investments in young Swiss growth
companies. New Value, quoted on the SIX Swiss Exchange, invests directly in
private companies with over average market and growth potential in
Switzerland and the surrounding countries. New Value promotes innovative
business models with growth capital and accompanies the companies to market
breakthrough. The portfolio comprises companies with different maturity,
from the market introduction phase until their establishment as
medium-sized companies with stable profits. Both Cleantech und Health Care
companies are represented in the portfolio.
Quotation: SIX Swiss Exchange (www.six-swiss-exchange.com), Xetra, Open
Market Frankfurt, Berlin, Düsseldorf, Stuttgart und Munich
Ticker-Symbol NEWN (CH), N7V (D)
Security number 1 081 986
WP-number 552 932
ISIN CH0010819867
Contact New Value AG Tel. +41 44 202 12 72
Paul Santner Tel. +41 44 202 12 72 santner@newvalue.ch
Information/
Downloads www.newvalue.ch Email: info@newvalue.ch
13.02.2012 News transmitted by EquityStory AG.
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Language: English
Company: NEW VALUE AG
Gartenstrasse 36
8002 Zürich
Switzerland
Phone: +41 44 202 12 72
Fax:
E-mail: info@newvalue.ch
Internet: www.newvalue.ch
ISIN: CH0010819867
Swiss Security Number: 552932
Listed: Freiverkehr in Berlin, Düsseldorf, München,
Stuttgart; Open Market in Frankfurt; SIX
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