|Capital increase ProgressNow! invest AG, Frauenfeld not realised - 01.06.2015
The reorganisation measures approved at the ordinary general meeting of April 9, 2015 included a capital increase of minimum Fr. 2´000´000 and maximum Fr. 10´000´000, as well as the reduction in the nominal share value from Fr. 50.00 to Fr. 3.94 (result of declaratory capital reduction from Fr. 35´125´000 to Fr. 2´767´850). This capital reduction was subject to the partial capital increase being successfully completed. The subscription period ran from April 22 to May 29, 2015.
Within the subscription period the minimum amount of Fr. 2´000´000 was not reached. Therefore the capital reduction with subsequent capital increase cannot now be completed.
The proposal by the Board of Directors that in this case the company should be dissolved and liquidated, was rejected by the shareholders at the ordinary general meeting on April 9, 2015. The Board of Directors will therefore evaluate other possible options in the coming weeks.
As a result of the weak liquidity position of ProgressNow! invest AG the publication of the monthly net asset value will be suspended during the evaluation process of the possible options.