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

Vtion Wireless Technology AG  / Key word(s): Share Buyback

20.12.2011 08:50

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

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.


---------------------------------------------------------------------------

Information and Explaination of the Issuer to this News:

'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.

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



20.12.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------
 
Language:     English
Company:      Vtion Wireless Technology AG
              Westhafen Plaza 1
              60327 Frankfurt
              Germany
Phone:        +49 69 710 456 245
Fax:          +49 69 710 456 248
E-mail:       ir@vtion.de;verena.rauch@kirchhoff.de
Internet:     www.vtion.de
ISIN:         DE000CHEN993
WKN:          CHEN99
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
---------------------------------------------------------------------------