Evolva statement to SER communication

Evolva Holding SA / Key word(s): Statement
Evolva statement to SER communication
12.12.2022 / 06:45 CET/CEST

• Sanctions Commission of SIX Group followed Evolva’s main arguments
• Addressed deficiencies are related to incomplete disclosures and technical mistakes related to the goodwill impairment tests in the financial reporting in 2019 and 2020
• Key allegations were not upheld
• No impact on past P&L and balance sheets nor on future business case
• New management team has strengthened internal processes and rules

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.”

Important dates

09 March 2023 Full-year 2022 results

18 April 2023  Annual General Meeting

Contact

Doris Rudischhauser
Investor Relations and Corporate Communications
+41 79 410 81 88
dorisr@evolva.com

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.

For Evolva multimedia content, please visit: evolva.com/multimedia-library.

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.

End of Media Release