New Value receives CHF1m bridge financing

Portfolio company Mycosym International AG will be closed and written-off by New Value as part of the restructuring. The convertible loan to the firm had been CHF1.1m.

Solar Industries AG, another portfolio company is in the process of assessing its financial performance. Write-downs on the investment in Solar Industries are likely.

The bridge financing through Angst&Pfister will allow New Value to continue doing business and concentrate on its best performing portfolio companies.

Besides the bridge financing, a single shareholder has bought 35,000 shares in a block trade.

Rolf Waegli, former chairman and also chairman of Solar Industries, resigned after being associated with the value loss. New Value (NEWN) is traded on the SIX Swiss Exchange. In the year-to-date, New Value has lost more than 41% of its share value. Shares currently trade at CHF5.60.

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• DACH
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