Evolva statement to SER communication
Evolva Holding SA
/ Key word(s): Statement
Reinach, 12 December 2022 – Evolva (SIX: EVE), a pioneer in the field of natural molecules and industrial biotech, is content that the Sanctions Commitssion of SIX Group followed Evolva’s main arguments as submitted in connection with the sanction request by SIX Exchange Regulation (SER). The respective decision was communicated today by SER. Key allegations regarding a potential impairment of goodwill were not upheld. The addressed deficiencies concern incomplete disclosures and technical mistakes related to the goodwill impairment tests in the financial reporting 2019 and 2020. As already communicated on 23 August 2022, Evolva submitted a statement to the Sanctions Commission, 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, has cooperated closely with SER and is committed to transparency towards all stakeholders. Internal processes and rules have been strengthened since. The addressed deficiencies do not have a material impact. In particular, there is no impact on past P&L and balance sheets nor on the future business case. The cash position is not affected other than by the communicated fine of CHF 50,000 for negligent breach of the financial reporting rules (plus cost of proceedings).
Evolva CEO Christian Wichert, who joined the company in February this year, comments: “While the primary focus of the new leadership team is on leveraging the ongoing good business momentum, boosting commercial performance and bringing Evolva to the next level, we are also committed to transparency and closing with the past. We accept the decision by the Sanctions Commissions and continue to strengthen our internal processes and rules.”
09 March 2023 Full-year 2022 results
18 April 2023 Annual General Meeting
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.
For Evolva multimedia content, please visit: evolva.com/multimedia-library.
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|Company:||Evolva Holding SA|
|Phone:||+41 61 485 20 00|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1509969|
|End of News||EQS News Service|