News - 18.01.29

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New Venturetec Ltd. refinanced the Convertible Bonds.

 

Zug, January 29, 2018. The outstanding Convertible Bonds of New Venturetec Ltd. with the principal amount of CHF 15'055'000, January 23 2018, together with accrued interests of CHF 602'200 was paid and rearranged.

In accordance with the existing subordination agreement with Peter Friedli, the amount of CHF 12 mio., due to Peter Friedli, was covered through replacement of a private convertible bond with the same terms.

New Venturetec Ltd. issued through a private placement CHF 1'125'000 Convertible Notes with the following terms: Interest rate 4%; Duration December 31, 2019; Conversion price CHF 9.50 per share.

Mr. Peter Friedli granted a new loan to New Venturetec Ltd. in the amount of CHF 1 mio., 4% interest, 3% premium, no conversion.

The residual amount of outstanding principal (CHF 930'000) and accrued interests payable (CHF 602'200) have been paid by using available cash of the company.

                       

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
Peter Friedli
Chollerstrasse 35
6300 Zug
Tel: 041 740 25 25
Email: info@newventuretec.com