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Vtion Wireless Technology AG: Chief Technology Officer resigns with consent of the company

Personnel Issue

 

Frankfurt, 18 May 2015

Mr. He Zhihong, the Chief Technology Officer of Vtion Wireless Technology AG (Vtion AG), a supplier of wireless data solutions for mobile computing in China, has resigned from office effective by 16 May 2015. The resignation is to avoid conflicts of interest related to his role in the former subsidiary Vtion Anzhuo, which was divested from the Vtion Group in March 2015. The personnel decision has been taken consensually by the Management Board and the Supervisory Board.

 

Both boards decided that there is no need to appoint a successor of Mr. He Zhihong. His responsibilities will be taken over by two of the remaining four members of the Management Board and the operational duties are assumed by the Chief Technology Officers of the Company's subsidiaries Vtion Information and Vtion Software.

On 23 March 2015, Vtion AG had decided to sell the whole equity stake of its subsidiary Vtion Anzhou to the management team via a management buyout. Among them is Mr. He Zhihong who now is responsible for the company offering software-related business services that among these is an appstore as well as insurance industry solutions.

 

About Vtion

The Vtion Group is a leading supplier of wireless computing solutions and products for mobile Internet access via broadband wireless networks in the People's Republic of China. The company offers industry-specific computing solutions to the insurance industry through its E-Agency platform. 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
Andreas Friedemann, phone: +49 40 60 91 86 0, mail: andreas.friedemann@kirchhoff.de


Disclaimer concerning prognoses

This communication contains forward-looking statements. Forward-looking statements are statements that are not historical facts instead they reflect Vtion's current views and expectations and the assumptions underlying them about future events. Forward-looking statements are subject to many risks and uncertainties. If any of such risks and uncertainties materialise or if the assumptions underlying any of Vtion's forward-looking statements are proving to be incorrect, Vtion's actual results may be materially different from those expressed or implied by such forward-looking statements. Vtion does not intend or assume any obligation to update these forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made.

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