New Venturetec Ltd. decided to dissolve the fully owned subsidiary Venturetec Inc., BVI
New Venturetec Ltd. decided to dissolve the fully owned subsidiary Venturetec Inc., BVI.
Zug, March 6, 2018. New Venturetec Ltd. today decided that it is in the best interest of the Shareholders of New Venturetec Ltd. to dissolve and close the fully owned subsidiary, Venturetec Inc., BVI. All assets held by Venturetec Inc. shall be transferred to New Venturetec Ltd., the Swiss domiciled company in Zug, with value April 1, 2018. The dissolution of the subsidiary and the transfer of the assets will not have any impact on the Group's Net Asset Value/Equity.
About New Venturetec
New Venturetec is a publicly traded Swiss investment company (SIX: NEV) which holds participations in venture companies in the areas of biotechnology and technology which are domiciled in the USA.
The investment horizon should be 10 years or more. A shareholder is recommended to follow the development with interest and base an investment or disinvestment decision on results of the development of the portfolio companies rather than on the general capital market and the investors’ sentiment. Any investor should only invest in New Venturetec if he can afford the complete loss of the investment without having to change his lifestyle. Significant risk is involved and the timelines may exceed the expectations. In addition, the market of New Venturetec shares is very illiquid. The risks of venture investments are 100%. The total loss of the investment has to be considered as a realistic possibility.
For further information:
New Venturetec AG
Tel: 041 740 25 25