October 10, 2017 / 4:56 AM / a month ago

BRIEF-New Value AG: Change in valuation for Silentsoft SA

Oct 10 (Reuters) - NEW VALUE AG:

* SAID ON MONDAY, IN RECENT MONTHS BOARD OF DIRECTORS OF PORTFOLIO COMPANY SILENTSOFT SA HAS NEGOTIATED WITH EXTERNAL INVESTORS FOR FUTURE FINANCING OF COMPANY

* SAID SILENTSOFT SA COULD NOT COMPLETE THESE NEGOTIATIONS IN TIME WHICH LED TO A SHORT TERM LIQUIDITY NEED

* SAID THE BIGGEST SHAREHOLDERS OF SILENTSOFT SA AGREED TO CONTRIBUTE THE NEEDED FUNDS, UNDER CERTAIN CONDITIONS, IN A FINANCING ROUND

* DUE TO ITS OWN LIQUIDITY SITUATION NEW VALUE AG CANNOT PARTICIPATE IN THIS FINANCING

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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