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Investor Relations News

Vtion Wireless Technology AG CEO Announces Lock-Up Extension

Frankfurt, 27. October 2010

Vtion Wireless Technology AG CEO Mr. Chen Guoping today announces that he has prolonged the lock-up agreement for his shares of the company, which constitute just under 50% of the total company shares, until April 1, 2011. This is an additional six months after the original lock-up following the IPO on October 1, 2009 has expired.

"I have great confidence that many better days lay ahead for Vtion, and my decision to extend my lock-up is indicative of that", states Mr. Chen, Vtion CEO. "I hope that this gesture will provide clarity as to my intentions for the company and serve as further proof to investors that I am personally both financially and emotionally invested in the long-term growth of Vtion and the creation of greater shareholder value", he concluded.

 

About Vtion
The Vtion Group is one of the three leading suppliers of wireless data cards and associated services for mobile computing via broadband wireless networks in the People's Republic of China. The Vtion Group concentrates mainly on the development and sale of wireless data cards, including computer interface software and the provision of appropriate after-sales services. The Vtion Group also supplies Internet-based data service solutions. Currently the company is comprised of approximately 200 employees and realized revenues of Euro 67.6 million and a net profit of Euro 16.55 million for 2009. The Vtion Wireless Technology AG shares are being traded in the Prime Standard on the Frankfurt Stock Exchange with the ISIN DE000CHEN993. The company's ticker symbol is V33.

 

For further information, please contact:

Kirchhoff Consult AG
Dr Kay Baden
tel.: +49 40 60 91 86 0
baden@kirchhoff.de

 

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