Ad-hoc | 14 May 2012 20:37
NEW VALUE AG / Key word(s): Miscellaneous
14.05.2012 20:37
Release of an ad hoc announcement pursuant to Art. 53 KR
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Press Release
New Board of Directors of New Value Undertakes Value Adjustments
Value adjustments of CHF 18.2 m and reduction of estimated NAV per Share to
CHF 6.63
Zurich, 14 May 2012 - The Board of Directors newly elected on the occasion
of the Extraordinary General Meeting of 27 April 2012 has conducted an
assessment of the situation and an evaluation of the portfolio. Valuation
adjustments of around CHF 18.2m will be made to the intrinsic value (NAV)
of CHF 12.81 per share communicated on 15 April 2012. The NAV as per 14 May
2012 is now estimated at CHF 20.6m or CHF 6.63 per share.
The assets of most portfolio companies had to be revalued on the basis of
market transactions or based on a more conservative assessment of the
business trend and project risks. In addition, the value of the financial
investments was adjusted as the recoverability of the existing collateral
has to be questioned. Around CHF 2m will have to be written off as a
result. The Board of Directors will investigate all possible legal measures
for the repatriation of these assets; the valuation does not take potential
returns or costs into account.
The revised annual report as of 31 March 2012 with further details on the
portfolio evaluations will be published on 29 June 2012.
Additional information about New Value
New Value, which is listed on the SIX Swiss Exchange, invests directly in
private companies with above-average market and growth potential in
Switzerland and neighbouring countries. New Value provides the venture
capital to promote innovative business models and supports the companies
until they achieve market success. The portfolio includes companies at
various stages of development. The companies included in the portfolio are
from the cleantech and healthcare sectors.
Stock exchange listings: SIX Swiss Exchange (www.six-swiss-exchange.com)
Xetra, Open Market Frankfurt, Berlin, Düsseldorf, Stuttgart and Munich
Ticker symbols NEWN (CH), N7V (D)
Security number 1 081 986
Security ID number 552 932
ISIN CH0010819867
Contact New Value AG, Zugerstrasse 8a, CH-6340 Baar
Dr. Bernd Pfister
Tel. +41 43 344 38 38
pfister@newvalue.ch
Information/
downloads www.newvalue.ch Email: info@newvalue.ch
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Language: English
Company: NEW VALUE AG
Zugerstrasse 8a
6340 Baar
Switzerland
Phone: +41 43 344 38 38
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
End of Announcement EquityStory News-Service
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