VEM AKTIENBANK addressing your capital market requirements

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1 VEM AKTIENBANK addressing your capital market requirements A COMPUTERSHARE COMPANY

2 VEM Aktienbank At a glance Management Team Andreas Grosjean, CEO Responsible for: Capital Markets, Research & Trading Experte Prospektrecht (WpPG Kommentator) Long term experience capital markets Alexander Lauterbach, CFO Long term experience banking technology, finance & taxation 2

3 VEM Aktienbank at a glance the one stop shop specialist Investment banking business securities trading Corporate Finance Consulting Fundraising Initial public offering Corporate Actions Admissions to trading / listings Dematerialisation of shares Tender offers Share splits, downgradings Research Research studies Fairness Opinions Designated Sponsoring Proprietary trading Share buyback programs Paying Agency Services Employee share plans Account- and deposit management VEM is spezialised in providing comprehensive services for listed companies More than 250 companies have used our services in the past ten years for at least one transaction (high market penetration) Proven track record of providing innovative financing concepts for listed SME Designated Sponsor for approx. 40 securities 3

4 VEM Aktienbank is one of the most active banks providing equity financing VEM is one of the leading investment banks in Germany (more than 400 capital increases transacted) No. 1 Bank for issue rights offers (see: chart on the right) More than 140 admissions to listings since 2005 (No. 1 in 2004/2005/2006 since then no statistics prepared by FSE) Transaction experience and expertise based on more than 100 initial listings and IPOs German investment banks ranked by issue rights offers (amount of mandates )

5 Our services are characterized by innovation, pioneering spirit and competence More than 70 years of combined investment banking experience Pioneer work of VEM (excerpts): Developement of a new standard for Internet-IPOs and later on the first electronical Online-Fund-Shop Pioneered the market with new concepts, e.g. IPO light and IPO via Xetra as new techniques to list and finance SMEs Structured convertibles with a negative dilution protection as an arbitrage instrument to successfully finance distressed companies Issuing free-of-charge warrants Conducted sucessfully the first direct Tech-IPO after the crisis of the New Economy First direct listing of a Chinese company (Gongyou Machines Ltd.) at the Frankfurt Stock Exchange Enterprise Holdings Ltd.: First foreign issuer at Entry Standard Bonds Stern Immobilien AG: First Dual Listing of a corporate bond Frankfurt Stock Exchange & Munich Stock Exchange 5

6 REFERENCES IPOs Capital increases 6

7 REFERENCES Paying Agent Services Employee share plans Diverses 7

8 8 Designated Sponsoring

9 Corporate Bonds July 2011 April 2012 June 2012 September 2012 March 2013 Fully Secured Bond EUR 13m Entry Standard Retail Sales Manager Paying Agent Fully Secured Bond EUR 11,6m Lead Manager DBLP & Paying agent Entry Standard Corporate Bond EUR 25,6m Selling Agent DBLP & Paying agent Entry Standard Corporate Bond EUR 35m Sole Global Coordinator & Bookrunner Entry Standard Corporate Bond EUR 15m Sole Global Coordinator & Bookrunner Entry Standard May 2013 May 2013 September 2013 March 2014 June 2014 Corporate Bond EUR 17,25m Sole Global Coordinator & Bookrunner Entry Standard Corporate Bond EUR 15m Selling Agent & Paying Agent Entry Standard Corporate Bond EUR 7,5m Lead Manager DBLP & Paying agent Entry Standard Corporate Bond EUR 20,25m Selling Agent Entry Standard Corporate Bond EUR 10m Global Coordinator Private Placement FWB Quotation Board 9

10 Designated Sponsoring No use of Quotemachines: sensible market making Our Designated Sponsoring constantly awarded the best rating (AA) by FSE Monitoring of market activity and personal information to clients in the case of high volatile trading sessions similar to a market scout Provision of measures to encourage share price stability Digital press review service Provision of historical quotes, charts and average quotes (VWAP) Monthly report on share price development Providing information OTC and Block Trades Organizing road shows & VEM Munich roundtable We adjust our services to meet your requirements Your fundraising requirements govern our trading activities Personal and highly motivated service provision as a foundation for establishing a long-term business relationship 10

11 Research Our research department is focused on the fundamental analysis of listed SME companies What sets us apart: Long term experience as Sell and Buy side analysts Detailed industry knowledge combined with high-level financial analytic expertise Close collaboration between management, experts, financial community and our research department Multilingual research reports High degree of market outreach by dissemination via VEM network of capital market multiplicators 11

12 Research Extensive annual research report updated with shortform interim updates Broad level of publication using multiple relevant channels (Reuters, Factset, etc.) including own investor network Road shows, incl. organisation, scheduling, support in drafting presentations, etc. Provision of Fairness Opinions Selected clients : PNE Wind AG, Softship AG, Orad Hi-Tec Systems Ltd 12

13 REFERENCE: EYEMAXX Real Estate AG Incoperation of operational business into the shell company Development of EYEMAXX s equity story & investor targeting Debt Financing in total EUR 40 Mio. withtin 3 years Placement of capital increases in case of rising share prices VEM as Designated Sponsor Significant increase in trading volume 13

14 Designated Sponsoring & Corporate Actions Case Study: S&T AG Long-term customer relationship Implementation of capital increases with a volume of EUR 13m Selling Agent for S+T s Bond (May 2013) Banking side of Quanmax and S+T AG merger Beginn DS 14

15 REFERENCE Curanum AG Successful operational restructuring Capital markets used as a source of funding Strengthening Curanum s equity base by two successful capital increases (Volume: EUR 11m) Designated Sponsoring provides liquid trading Take-over offer: EUR 2,5 per share December

16 Downgrading VEM gives advice and support for Downgradings A Downgrading into the exchange-regulated segments can be attractive for many listed companies due to the growing regulation requirements in the regulated market Cost savings post-downgrading can amount to 50 k k EUR due to change in applicable accounting principles, consolidation requirements, no more ad hoc publicity and other statutory transparency requirements Publication of numerous professional articles (cf. 16

17 Downgrading and Designated Sponsoring Case Study: SHS VIVEON AG Successful restructring Listing at the MSE (m:access) in Dec Cost savings approx. keur 250 Successful capital increase in May 2010 (Vol. EUR 1 Mio.) VEM restarts Designated Sponsoring: Rise in Trading Volume 17

18 REFERENCE: Realtime Technology AG Leading provider for 3D visualization technique VEM Aktienbank: Deutsche Börse Listing Partner Upgrade in FSE s Entry Standard Improved transparency for investors Settlement of RTT s employee stock option program 18

19 REFERENCE: EQS Group AG Financing the acquisition of DGAP as Lead Investor in November 2005 Lead manager of IPO in June 2006 (Entry Standard) Designated Sponsor and Deutsche Börse Listing Partner since IPO Paying agency service since

20 REFERENCE: Enterprise Holdings Ltd. VEM Sole Global Coordinator & Bookrunner Boutique insurance company offering white label non insurance solutions for retailers First foreign issuer launching a bond on FSE s Entry Standard (EUR 35m) VEM acts as Sole Global Coordinator & Bookrunner, Co-Applicant, Listing Partner & Paying Agent Attractive Risk-Return-Combination: A- Rating / 7% Coupon rate High demand from retail side Outperformance of simultaneously issued bonds 20

21 REFERENCE: EYEMAXX Real Estate AG Bond VEM as Sole Global Coordinator & Bookrunner Pioneering achievement: First inflation-linked SME bond at FSE s Entry Standard Bond story developed in the wake of previously issued bonds Protection against inflation attracts retail investors Excess demand from instituional investor s side Fully placed within 1 day (EUR 15m) 21

22 Thank you very much for your interest in our services Board: Ass. iur. Andreas Grosjean, Ass. iur. Alexander Lauterbach Address: Prannerstr. 8, Munich, Germany Contact: Tel: +49 (0) , Fax: +49 (0) , Internet: Trading member: Frankfurt Stock Exchange, Xetra, Munich Stock Exchange Bundesbank-Account: Deutsche Bundesbank, Munich (sorting code ), account # Regulatory Authority: Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) Member: Bundesverband der Wertpapierhandelsunternehmen, Bundesverband deutscher Banken 22

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