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Public disclosure of inside information pursuant to Article 17 MAR

Vtion Wireless Technology AG: Voluntary tender offer to buy back treasury shares / Reduction of the company's share capital intended

Frankfurt, 4 June 2012

The management board of Vtion Wireless Technology AG, one of the leading suppliers of wireless data solutions for mobile computing in China, today resolved to offer all of its shareholders to buy back treasury shares by means of a voluntary tender offer. The offer price per tendered Vtion share amounts to EUR 3.80, which includes a premium to the current share price of approx. 10%. The offer period runs from 5 June 2012 until (and including) 18 June 2012. Under the offer, Vtion may repurchase a total of up to 660,000 treasury shares. In case of over-subscription, the offers will be accepted proportionally. The terms and conditions of the offer are described in more detail in the offer document, which will be published on 5 June 2012 with the Bundesanzeiger and on the Company's website.

The previous share buyback program, under which the Company has acquired 936,160 Vtion shares as of today, has been concluded on 30 May 2012.

The management board intends, by means of one or more resolutions and if possible until the annual general meeting of the company on 26 June 2012, to reduce the company's share capital by redeeming the treasury shares acquired under the share buyback program and the public tender offer. The management board is entitled to such measure under the authorization granted by the annual general meeting of the Company dated 22 June 2010, without any further resolution of the annual general meeting required. The redemption and the reduction of the share capital are, however, still subject to the approval of the supervisory board. Should the tender offer be fully accepted, the share capital of the Company would be reduced from EUR 15,980,000 by up to EUR 1,596,160 to EUR 14,383,840 by redeeming 1,596,160 treasury shares with a notional amount of the Company's share capital of EUR 1.00.

Upon redemption of the treasury shares while reducing the share capital, the remaining shares gain a relatively higher weight since they represent a larger share in the Company. In addition, the dividend per share for the fiscal year 2011 is likely to increase, since the management board intends to leave the total amount of dividend of EUR 792,000, as already published in the proposal for the distribution of profits for the fiscal year 2011, unchanged.

 

Additional information:

ISIN: DE000CHEN993
Securities Identification No. (WKN): CHEN99
Listing: Regulated Market / Prime Standard at Frankfurt Stock Exchange
Registered office of the company: Germany

 

For further information, please contact:

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

 

Disclaimer

This release is for information only and does not constitute an offer to sell, purchase, exchange or transfer any securities or a solicitation of any such offer in the United States or any other jurisdiction. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the 'Securities Act') and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. Neither Vtion Wireless Technology AG ("Vtion") nor any other participant in the transactions described herein intends to register any securities under the Securities Act or with any securities regulatory authority of any state or other jurisdiction in the United States in connection with the proposals described in this announcement. The shares may not be offered to the public in any jurisdiction in circumstances which would require the preparation or registration of any prospectus or offering document relating to the shares in such jurisdiction. No action has been taken by Vtion, M.M. Warburg & Co. KGaA or any of their respective affiliates that would permit an offering of the shares or possession or distribution of this announcement or any other offering or publicity material relating to such securities in any jurisdiction where action for that purpose is required.

As far as this release contains forward-looking statements with respect to the business, financial condition and results of operations of Vtion, these statements are based on current expectations or beliefs of Vtion's management. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or performance of the Company to differ materially from those reflected in such forward-looking statements. Apart from other factors not mentioned here, differences could occur as a result of changes in the overall economic situation and the competitive environment - especially in the core business segments and markets of Vtion. Also, the development of the financial markets and changes in national as well as international provisions particularly in the field of tax legislation and financial reporting standards could have an effect. Terrorist attacks and their consequences could increase the likelihood and the extent of differences. Vtion undertakes no obligation to publicly release any revisions or updates to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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