Advantech lifts the suspensive condition for the acquisition of AURES Technologies

On October 1, 2024, AURES Technologies and Advantech announced the lifting of the suspensive condition included in their investment protocol. This decision follows the acquisition by Advantech of 1,430,381 shares held by Patrick Cathala, at a price of €6.31 per share.

Advantech now holds approximately 35.76% of the share capital of AURES, forcing it to launch a mandatory public tender offer. The completion of this offer is expected for the end of October or the beginning of November 2024.

The AURES Board of Directors also noted the resignation of its directors and appointed four new members from Advantech. Ming Chih Chiang was appointed as the new Chairman and CEO.

If Advantech exceeds 90% of the capital and voting rights, a mandatory squeeze-out procedure will be implemented. Finally, a second tranche of convertible bonds will be subscribed by Advantech.