Decision on delisting Valor Terra (LUNA) SEK

Today, NGM decided to write off the financial instrument Valor Terra Valor Terra (LUNA) SEK (ISIN: CH1114178804) of trading at the end of the day. NGM considers that the instrument cannot be traded in a fair and orderly manner, as the conditions for continued listing no longer exist. NGM will not lift the trade ban imposed on May 11, 2022 before the Valor Terra is removed from the list.

How is she now?

The instrument is still in existence but will not be allowed to trade on NGM. Thus, it will not be possible to trade the instrument via NGM. The total value of Terra (Luna) underlying assets attributable to all issued financial instruments was approximately $27 as of May 20, 2022 at 1:31 PM. Converted to SEK, this currently corresponds to approximately SEK 0.00001388 per security.

what happened after that?

Issuer Valor stated in its primary prospectus that an issuer may pursue delisting an instrument using its opportunity to make a refund, a so-called issuer recall. The refund amount is still dependent on the development of the underlying asset Terra (Luna) and can be set as zero kroner.

Valor believes that there is reason to wait a shorter period before the issuer makes a decision to implement the refund. The purpose, most likely, is to arrive at a more reliable basis for assessing the prospects for a successful restructuring of the underlying asset and with a scope that could significantly lead to a higher redemption amount.

As financial instruments are written off today, they may be kept Investment Savings Account (ISK) Until the sixtieth day after the end of the quarter in which the write-off was made (that is, no later than the end of August 2022). Valor therefore intends to decide on a refund at a time that makes it possible to carry out such refund within that time frame.

Will it be possible to sell the property before redemption?

The issuer is currently investigating the possibility of offering buybacks of financial instruments at the prevailing market value to investors who wish to sell their properties at an early stage. However, this presupposes that transactions can be settled efficiently. So Valor intends to come back with updated information soon.

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