- Evolva takes note of the sanction request submitted by SIX Exchange Regulation (SER) today
- Alleged deficiencies concern the goodwill impairment tests in the financial reporting 2019 and 2020 and related disclosures
- Evolva is convinced that key allegations do not uphold and that potential deficiencies do not have a material impact
- No impact on cash position and business case
- New management team has strengthened internal processes and rules
Reinach, 23 August 2022 – Evolva (SIX:EVE), a pioneer in the field of natural molecules and industrial biotech, takes note of the sanction request submitted today by SER to the Sanctions Commission of SIX Group concerning the financial reporting in 2019 and 2020. The alleged deficiencies concern the goodwill impairment tests and the related disclosures in the respective reporting. Evolva is convinced that key allegations do not uphold and that potential deficiencies do not have any material impact. The company submitted a respective statement which was aligned with the former and the current auditors in addition to being backed up with external advice. The new management team, which joined Evolva in 2021 and 2022, respectively, is working closely with SER and is committed to transparency towards all stakeholders. There is no impact on Evolva’s cash position nor the company’s business case.
As already announced on 26 July 2022, the company has been proactively reviewing balance sheet assets in the course of the development of the new mid-term plan and expects a non-cash relevant impairment of CHF 15-20 million, details of which will be announced together with the half-year results on 25 August. The company does not expect any additional impairments due to today’s SER request.
Evolva CEO Christian Wichert, who has joined the company in February this year, comments: “While the primary focus of the new leadership team is on leveraging the ongoing positive business momentum, boosting commercial performance and bringing Evolva to the next level, we are also committed to transparency and closing with the past. Thus, we are fully collaborating with SER and continuously strengthening our internal processes and rules.”
Evolva will provide details on its new mid-term plan and half year-results on 25 August 2022.
Important dates
25 August 2022 Half-year results 2022
Contact
Doris Rudischhauser
Investor Relations and Corporate Communications
+41 79 410 81 88
[email protected]
About Evolva
Evolva is a Swiss biotech company focused on the research, development and commercialization of ingredients based on nature. We have leading businesses in Flavors and Fragrances, Health Ingredients and Health Protection. Evolva’s employees, half of which are women, are dedicated to make the best products that can contribute to health, wellbeing and sensory enjoyment. Find out more at evolva.com and connect with us on LinkedIn.
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Disclaimer
This announcement is not an offer of securities into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered, pledged, sold, delivered or otherwise transferred, directly or indirectly, in the United States, except pursuant to an exemption from, or transaction not subject to, the registration requirements of the Securities Act. No public offering of securities is being made in the United States. Further, the securities referred to herein have not been and will not be registered under the applicable securities laws of Canada, Australia or Japan or under the applicable securities laws of any other jurisdiction where to do so might constitute a violation of such laws.
This press release contains specific forward-looking statements, e.g. statements including terms like believe, assume, expect or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not place undue reliance on forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.
