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Public disclosure of inside information pursuant to Article 17 MAR

Vtion Wireless Technology AG: Share Buyback to continue after Initial Program for 1 million Shares is complete

  • 2011 Share Repurchase Program

Frankfurt, 20 December 2011

Vtion Wireless Technology AG, one of the leading suppliers of wireless data solutions for mobile computing in China, has resolved to continue repurchasing shares after its current buyback program of 1 million shares is complete. The company was authorized by its 2010 AGM to repurchase 1.598 million shares and first implemented a program to purchase just 1 million shares. When this program is complete, the company will implement another program to repurchase the remaining 598,000 shares allowed under the AGM authorization. To date, the company has repurchased a total of 744,802 shares, at an average price of Euro 3.59.

 

Additional information:

"Though it will still take some time before we reach the 1 million shares under our current program, we want to provide clarity to investors as to our intentions for the remaining shares under the authorization," states Vtion CEO Guoping Chen. "We have allocated cash to repurchase the full 1.598 million shares allowed under the AGM authorization, as we consider this an important means through which we can return cash to shareholders over an extended period of time," he concludes.

Progress regarding the share buyback program can be found on the company's website: www.vtion.de.

Vtion expects revenues for 2011 of between EUR 75 to EUR 100 million, with an EBIT margin between 10% and 12%. So far in the fourth quarter the company has seen sales in both the wireless data terminal and mobile intelligent terminal segments largely in line with those of Q3, while it continues to build up its Android mobile applications platform through its wholly-owned subsidiary, Vtion Anzhuo.

 

For further information, please contact:

Kirchhoff Consult AG
Dr Kay Baden, tel.: +49 40 60 91 86 39, baden@kirchhoff.de

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