Value Management & Research AG

ots Ad hoc-Service: Value Managem. & Research Merger of Value Management & Research AG and Knorr Capital Partner AG

Ad hoc-announcement edited and sent by DGAP. The sender is solely responsible for the contents of this announcement. ----------------------------------------------------- Frankfurt (ots Ad hoc-Service) - Merger of Value Management & Research AG and Knorr Capital Partner AG Knorr Capital Partner AG (KCP AG) and Value Management & Research AG (VMR AG) are planning to merge and conduct their activities under a joint Company - the new Knorr Capital Value Management AG (KCVM AG) - with the aim of making it the leading listed Venture Management Company in Europe. Subject to the results of the Company valuations and the subsequent merger audit, Knorr Capital shareholders should hold 55% of the shares in the new Company and Value Management & Research shareholders 45%. The merger will create the largest listed venture management Company in Europe, with equity of over DM 400 million. In addition, the Company will have around DM 2.5 billion assets under management. The new Company, which will be represented in 22 countries, currently generates 46% of its revenues from foreign investments. In the long term, the goal is to increase this percentage to more than 60 - 70%, The new Knorr Capital Value Management AG is forecasting revenues of EUR 146.2 million in fiscal year 2000 and EBIT of EUR 62.3 million. Earnings per share are expected to amount to EUR 2.6. The merger of Knorr Capital Partner AG and Value Management & Research AG will create a global player in the venture capital sector. Both companies will combine their classic consulting and financing business with the management of seed, start-up, and pre-IPO investments. Distribution is assured through multiple placement channels e.g. trade sales, internet IPOs and mergers. The new Company will combine three core competencies - technology development support, management consulting and innovative financing mechanisms for high growth companies - resulting in a unique and highly profitable business model. The new Knorr Capital Value Management AG will be led by the two co-founders and chairmen of the companies involved in the merger, Thomas H. Knorr (47) and Florian Homm (40), together with their existing board members Manfred Frey (51) and Kevin Devine (40), and the deputy board member David Cairns (54), from Martlet Venture Management. Value Management & Research AG Patricia Köhler Tel: 06196-8800 444 e-Mail: End ----------------------------------------------------- Internet: Original-Content von: Value Management & Research AG, übermittelt durch news aktuell

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