Value Management & Research AG (DB:VMR1) agreed to acquire a majority stake in Advisortech on November 14, 2018. The cash component of the purchase consideration will be financed through issuance of convertible bond with partial use of the conditional capital. As further financing component for the acquisition of the company, the management board and supervisory board decided to execute a real capital increase with exclusion of the subscription right by issue of 720,000 new shares. Post the closing of the transaction, Value Management & Research AG intends to offer existing shareholders a cash capital increase in the ratio of 5:1. The completion of the purchase agreement is subject to closing conditions and is to be expected by the end of 2018. Value Management & Research AG (DB:VMR1) cancelled the acquisition of a majority stake in Advisortech on November 14, 2019.