New Venturetec’s Chairman today decided to resign as per the extraordinary shareholders’ meeting of July 10, 2019.
Zug, June 26, 2019. New Venturetec AG (the “Company”) has received notice of its Chairman that he has today decided to resign as per the extraordinary shareholders’ meeting of July 10, 2019. He also informed the Board that he has decided to vote in favor of the liquidation of the company, provided an outside liquidator is mandated with the liquidation. The Investment Advisory Agreement will be terminated in accordance with the contractual terms.
About New Venturetec Ltd.
New Venturetec Ltd. 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 Ltd. 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 Ltd. 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.