ONZ: Capital procurement for new newspaper underway
Obwalden and Nidwalden will get a new newspaper at the end of April. So far, more than 200 shareholders have pledged over two million francs for the ONZ Obwalden and Nidwalden Zeitung project. However, one million francs still needs to be raised by the end of March.
The shareholders come from Nidwalden and Obwalden as well as other Swiss regions. The Board of Directors of ONZ is convinced that the subscription will be completed successfully and that the target of three million Swiss francs will be achieved, according to a press release issued on Monday. The subscription period for the capital increase from CHF 105,000 to CHF 3 million runs until March 31, 2010, and a maximum of 5,790 new registered shares with a nominal value of CHF 500 each will be issued. The capital increase serves to raise funds and will be used exclusively to finance the launch of ONZ. The Board of Directors is aiming for a broad-based shareholder structure consisting of private individuals, companies and institutions from both cantons.
