TFG Venture Capital announces impairment losses

TFG Venture Capital AG & Co KgaA has charged impairment losses totalling EUR 10.4m on its portfolio at the end of Q2 2002. The shares of VeriSign, GeneScan Europe and Concord Effekten suffered particularly sharp declines in the past quarter. More than EUR 9.8m of the above-mentioned amount is attributable to adjustments to investments in listed companies. At around EUR 600,000, TFG’s adjustment to its unlisted portfolio companies is relatively small, as TFG had already measured these companies very conservatively at the end of fiscal year 2001. As a result of the write-downs, TFG will report a negative half-year result. The company will publish its finalised quarterly figures in August.

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