November 26, 2019 / 8:48 PM / 12 days ago

BRIEF-New Value AG Announces Sale Of Shares In Sensimed

Nov 26 (Reuters) - New Value AG:

* SALE OF SHARES IN SENSIMED SA

* SENSIMED SA EXPERIENCED DIFFICULTIES IN REALISING A FINANCING TO SECURE CONTINUED EXISTENCE OF COMPANY

* IN EXTRAORDINARY GENERAL MEETING ON OCT 29 SHAREHOLDERS OF SENSIMED DID NOT VOTE WITH REQUIRED QUORUM IN FAVOUR OF CAPITAL INCREASE

* TO AVOID BANKRUPTCY BOARD OF SENSIMED SA DECIDED ON A FIRESALE OF COMPANY

* BOARD OF NEW VALUE AG DECIDED TO GO ALONG WITH DECISION AND TO SELL ALL SHARES IN SENSIMED SA

* CONDITIONS OF BUYER CAN’T BE MET AND PROPOSED SALE OF CO FAILS, BOARD OF SENSIMED SA WILL FILE FOR BANKRUPTCY

* BOTH SCENARIOS WILL LEAD TO SITUATION THAT PARTICIPATION IN SENSIMED AMOUNTING TO CHF 158827 WILL HAVE TO BE COMPLETELY VALUE-ADJUSTED Source text for Eikon: Further company coverage:

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