The SWX Swiss Exchange Initiates Investigation Against Valora Holding AG

The SWX Swiss Exchange has instituted an investigation against Valora Holding AG regarding a possible violation of Art. 72 of the Listing Rules and the Directive on Ad hoc Publicity. The preliminary investigation conducted by the SWX has revealed that the aforementioned rules may have been violated in connection with the resignation of Manfred Zipp, member of the Management Committee. The duration of these investigative proceedings has not been determined. SWX will announce the ultimate results, but will not provide any further information concerning the ongoing proceedings.