Current Reports

Data publikacji: 19.03.2020

5/2020 (ESPI) Impact of the COVID-19 coronavirus pandemic on the Issuer’s operations

In connection with the issuance of a recommendation by the European Securities and Markets Authority (ESMA) regarding, among others planning business continuity and disclosing market information in connection with the coronavirus pandemic, the Management Board of Venture Inc SA (Issuer, Company) informs that the introduction of an epidemiological threat does not pose a direct threat to the continuity of the Issuer’s operations. In the interests of the safety of its associates, the Management Board decided to switch to remote work mode, which will also ensure the Company’s operational continuity. Despite the lack of direct threat to the Issuer’s activity and performance of ongoing tasks, the Management Board closely monitors the business environment and is aware of the deteriorating situation on financial markets, in particular on the market with high risk which is Venture Capital. Market changes arising in connection with the coronavirus pandemic and its consequences may affect the activities of the Issuer’s portfolio companies. Due to the nature of their operation, these companies have not achieved the so-called Break Even Point and for their further development is often necessary to obtain external capital, including from other Venture Capital funds. Considering the circumstances, obtaining such financing may be difficult, which may adversely affect the condition of portfolio companies and the achievement of their business goals. The Issuer also notices the risk related to the reduction in demand for portfolio companies services, due to the deteriorating global economic situation. In relation to the above, the Issuer plans to review the investment portfolio and the current business situation in portfolio companies. In the event of events of significant importance and having a significant impact on the value of the Issuer’s portfolio, the Company will inform in separate reports.

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