Value Management & Research AG

ots Ad hoc-Service: Value Managem. & Research Value Management & Research AG and Knorr Capital Partner AG call off merger and agree on extensive cooperation

Ad hoc-announcement edited and sent by DGAP. The sender is solely responsible for the contents of this announcement. ----------------------------------------------------- Schwalbach / Munich (ots Ad hoc-Service) - * Far-reaching exploitation of synergy potential without an actual merger and without any capital increase * Knorr Capital Partner intends to acquire substantial stake in VEM Virtuelles Emissionshaus AG (VEM AG), Munich * Foundation of a separate company jointly owned by VMR and KCP for private equity funds * Close cooperation between both companies with respect to new VC investments Value Management & Research AG (VMR) and Knorr Capital Partner AG (KCP) will call off their merger due to the current share price development. The Management boards of both companies believe that current market valuations do not reflect the opportunities and the strategic positions of both companies in the Venture Capital and financial services sector. However, both companies would like to exploit the advantages of a merger by entering into an extensive cooperation agreement. As a consequence there will be no capital increase. Both Value Management & Research AG and Knorr Capital Partner AG are convinced that the jointly agreed measures for a close partnership will accelerate shareholder value of both companies to a larger extent than a formal merger. It is contemplated, that Knorr Capital Partner AG will acquire a substantial stake in VEM Virtuelles Emissionshaus AG. Value Management & Research AG currently owns 60.3% of the Munich based Internet Investmentbank. VEM is the most successful IPO Internet-Bank in Germany. Since its inception VEM has been involved in 44 new equity issues as a syndicate member. In total, VEM has successfully participated in 60 capital market transactions. In the future VEM will also offer equity stakes of KCP participations to its 90,000 clients. Furthermore a jointly owned private equity fund company will be founded which shall distribute private equity fund products in cooperation with well-known financial service companies. In order to underline the importance of the cooperation, cross company supervisory board representations will be proposed to the AGMs of both companies. The Management Board For questions please contact: Florian Homm, CEO 49 -6196-88 00-180 WKN 760550 *Börsenkürzel VMR *BloombergVMR GR *Reuters VMRG.F * Geregelter Markt/FWB End ----------------------------------------------------- Internet: Original-Content von: Value Management & Research AG, übermittelt durch news aktuell

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