EQS-Adhoc: NEW VALUE AG: Liability claims settlement
EQS Group-Ad-hoc: NEW VALUE AG / Key word(s): Legal Matter
NEW VALUE AG: Liability claims settlement
16.09.2016 / 17:48
Release of an ad hoc announcement pursuant to Art. 53 KR.
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Press release
Liability claims settlement
Baar, September 16, 2016
In August 2015, Baar-based New Value AG sold its liability claims against former
directors and auditors to an investor.
Since then, the investor has continued to pursue negotiations with the former
directors and the former auditor. As of September 16, 2016 a settlement has been
reached between the parties. Under New Value AG's sale of claims agreement with
the investor, a substantial share of the payment received by the investor under
this settlement will flow back to New Value AG. The actual amount of this
payment will be known once the final accounting has been done.
Since possible revenues from the legal proceedings have not yet been taken into
account in the balance sheet thus far due to the high levels of uncertainty
regarding the duration of the proceedings and the scope of the compensation,
this payment will lead to a slight increase in New Value AG's Net Asset Value
(NAV).
The settlement was made under the condition that all damages claims against the
former Board chairman are also satisfied by this payment to the investor. Hence,
New Value AG's ongoing civil suit against the former Board chairman will be
withdrawn.
About New Value
New Value AG, which is listed on the SIX Swiss Exchange, invests up to now
directly in private companies with strong growth potential in Switzerland and
neighbouring countries. New Value AG provides growth capital to promote
innovative business models and supports the companies to market success. The
companies included in the portfolio are mainly related to the cleantech and
healthcare sectors.
Stock exchange listings:SIX Swiss Exchange (www.six-swiss-exchange.com)
Ticker symbolsNEWN (CH
Security number1 081 986
ISINCH0010819867
ContactNew Value AG, Zugerstrasse 8a, CH-6340 Baar, Switzerland
Dr. Bernd Pfister
Phone +41 43 344 38 38
pfister@newvalue.ch
Information/
downloadswww.newvalue.chEmail:info@newvalue.ch
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End of ad hoc announcement------------------------------------------------------
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 Swiss Exchange
End of News EQS Group News Service
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502827 16.09.2016
EQS Group-Ad-hoc: NEW VALUE AG / Key word(s): Miscellaneous NEW VALUE AG: Change in shareholder position 04.07.2016 / 17:45 Release of an ad hoc announcement pursuant to Art. 53 KR. 477519 04.07.2016 ...
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