New Venturetec Result Expectation fiscal year 2013/14
New Venturetec: Result expectation for the fiscal year 2013/2014 ended September 30, 2014
Zug, October 5, 2014. New Venturetec ended its fiscal year 2013/14 on September 30, 2014. Based on the current valuations of the portfolio companies New Venturetec expects a consolidated net loss of approximately USD 20,900,000 or USD 4.18 per share. The main reasons for the loss is the decrease of the traded share price of Osiris Therapeutics from USD 16.64 per share to USD 12.59 per share and the decrease of the valuation of the private company mPortal from USD 0.62 to USD 0.50 per share in the reporting period. The estimated numbers could change materially during the course of the end year valuation process of the portfolio, which will be done in the coming weeks. The final annual financials, together with the annual report of New Venturetec 2013/14 will be published on November 5, 2014.
New Venturetec did not give any guidance on its performance for the fiscal year 2013/14 and has never done so in the past.
New Venturetec is a publicly traded Swiss investment company (SIX: NEV) which invests directly in venture capital companies in the USA.
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