Ad hoc announcement pursuant to art. 53
September 30, 2024, Basel (Switzerland) – Youngtimers AG, a 24-year-old Swiss-listed company (YTME: SIX, also the “Company”), reports an operating revenue of CHF 39’892 with a net loss of CHF 1’441’699 in the first six months of 2024, compared to zero operating revenue and a profit of CHF 250’229 for the same period in 2023. This net loss is almost entirely attributed to unrealized capital loss on the Company’s investment in shares of Gremi Media SA, Warsaw-listed Polish media company. Youngtimers AG remains debt free, and its cash position has increased from CHF 290’116 as of December 31, 2023, to CHF 800’627 as of June 30, 2024.
The Company’s financial performance in the second half of 2024 is likely going to be significantly affected by acquisition and consolidation of 100% ownership interest in C Capital Acquisition Corp, the exact completion date of this transaction has not yet been determined by the Company but with a high degree of certainty will occur in the calendar Q4 2024.
Upon completion of the purchase of C Capital Acquisition Corp, Youngtimers AG will refocus its investment strategy on the APAC asset management business, and in that context the Company is already undertaking efforts to exit from the legacy tactical investments in European listed companies, aiming to complete such exits at optimal financial terms at the time of the Company’s choosing.
About Youngtimers AG
Youngtimers AG is an investment firm specialized on small and mid-cap listed equities, Youngtimers AG is listed in Switzerland (symbol YTME on the SIX Swiss Exchange) and headquartered in Basel, for more information please refer to www.youngtimers.com.
Contacts
Youngtimers AG
Renger van den Heuvel, CEO, renger@youngtimers.com
