EQS Group-Ad-hoc: NEW VALUE AG / Key word(s): Miscellaneous
NEW VALUE AG: Sale of liability claims
03.08.2015 / 18:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.
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Press Release
Sale of liability claims
Baar, Switzerland, 03 August 2015
New Value AG, based in Baar, Switzerland, has conducted negotiations to
enforce the liability claims against the former members of the Board of
Directors and the former auditing company, also with the representatives of
the relevant D&O insurance (liability insurance of the Board of Directors).
So far, an agreement has not yet been reached in these negotiations.
A longer-term conflict and cost-intensive lawsuit to enforce these damage
claims is no longer consistent with the defined, medium-term oriented
implementation strategy of New Value AG. In order to plan this matter in a
better way while limiting the risk, New Value AG has found a partner
willing to assume the claims against the former board members and the
former auditor. The contract was signed on 03 August. The claims for
compensation of damages against the former president of the Board of
Directors and other responsible parties, which New Value AG will pursue
independently, were not a part of this contract and were not transferred.
The buyer has agreed to reimburse up-front an initial portion of the
claims. Thus, New Value AG will immediately gain liquidity. Further
proceedings are cost-neutral for New Value AG, as all legal and court costs
will be borne by the investor. The contract is designed such that New Value
AG will participate substantially in the future proceeds from any agreement
or court proceedings.
Due to the fact that possible proceeds from the legal proceedings have not
yet been taken into account in the balance sheet because of the high degree
of uncertainty with regard to the duration of the proceedings and the scope
of the compensation, the agreed initial payment resulting from the sale of
the claims will lead to an increase in the Net Asset Value (NAV) of New
Value AG by CHF 0.23.
Additional information about New Value
New Value AG, 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 promotes innovative
business models with growth capital and accompanies the companies to market
success. The portfolio includes companies in various degrees of maturity.
The portfolio has companies in the areas of cleantech and health care.
Listing: SIX Swiss Exchange (www.six-swiss-exchange.com)
Ticker symbol: NEWN (CH)
Security number: 1 081 986
ISIN: CH0010819867
Contact: New Value AG, Zugerstrasse 8a, CH-6340 Baar, Switzerland
Hans van den Berg, President of the Board of Directors
Tel.: +41 43 344 38 38
vandenberg@newvalue.ch
Information/
Downloadswww.newvalue.ch Email: info@newvalue.ch
End of ad hoc announcement
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03.08.2015 News transmitted by EQS Schweiz AG. www.eqs.com - news
archive: http://switzerland.eqs.com/de/News
The issuer is responsible for the contents of the release.
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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
Valor: 552932
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart; Open Market in Frankfurt ; SIX
End of News EQS Group News-Service
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383197 03.08.2015
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