que Vectrix a signé un accord avec son fournisseur GP pour une batterie lithium fin 2008;
Les utilisateurs vont peut-être pouvoir passer au lithium une fois leur nimh HS... après négociations peut-être même sous garantie ? elle est pas belle la vie
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Vectrix Corporation - Agreement with GP Batteries
Vectrix Corporation
03 April 2008
Date: 3 April 2008
On behalf of: Vectrix Corporation
For immediate release
Vectrix and GP Batteries
Announce Strategic Agreement
for Future Battery Supply & Asia Distribution
Middletown, R.I. Vectrix Corporation (AIM: VRX) (www.vectrix.com), maker of the
world's first high performance, two-wheel zero emission vehicle (ZEV), today
announced that it has entered into a strategic agreement with GP Batteries
International Limited (GP Batteries) of Singapore.
The agreement provides that GP Batteries will develop and supply by the end of
2008 lithium ion batteries for future Vectrix ZEV models. Vectrix will be the
exclusive GP Batteries' customer for the class of lithium ion batteries to be
developed for use in two and three-wheel ZEVs.
GP Batteries and Vectrix agreed to release each other from existing obligations
to purchase and deliver nickel metal hydride batteries. The agreement also
provides that GP Batteries will take delivery of 130 Vectrix two-wheel ZEVs for
distribution in China (including Hong Kong), Taiwan, Macau and Singapore. These
vehicles will come from Vectrix's existing inventory.
The agreement provides for GP Batteries to receive 15 million shares of Vectrix
common stock which are identical to existing issued shares of Vectrix common
stock. Any subsequent sale of the new Vectrix shares held by GP Batteries will
be subject for a limited period to a right of first refusal by Vectrix at three
times their market price on the date of issuance. Application has been made for
the new Vectrix shares to be admitted to trading on AIM.
As a result of this transaction, Vectrix expects to take a net charge of USD
730,000 to its income statement for the first half of fiscal year 2008.
The charges (and reversals of charges) that make up the net charge consist of:
- reversal of an adverse purchase commitment carried over from fiscal year 2007
of USD 3,979,500 (related to the purchase obligation for nickel metal hydride
batteries);
- write off of existing prepayment made for nickel metal hydride batteries of
USD 1,545,500,
- expensing of the cost of the 130 bikes in inventory to be delivered to GP
Batteries (USD 1,149,200);
- recording the issuance of 15 million shares of common stock to GP Batteries
(fair market value of USD 2,015,000 on the issuance date).
Andrew MacGowan, President of Vectrix, commented:
'We believe that this dynamic strategic agreement insures the availability of
advanced lithium ion battery systems for future Vectrix models. At the same
time, we remain committed to nickel metal hydride batteries in our existing
two-wheel zero emission vehicle. We also are pleased to bring our zero emission
vehicles to Asia, especially as awareness builds around the world for the need
to reduce urban pollution, congestion and petrol usage. In addition, we are very
happy to have GP Batteries as a shareholder.'
Andrew Ng, Chairman and Chief Executive of GP Batteries, said:
'We pride ourselves on being chosen to supply lithium ion batteries to Vectrix
ZEVs. We believe the increasing global acceptance of electric transportation
will present tremendous opportunities for our group, and we are poised to
participate in this exciting market.'
Enquiries to:
VECTRIX Corporation www.vectrix.com
Chris Moe, Chief Financial Officer (401) 848-9993
Redleaf Communications vectrix@redleafpr.com
Emma Kane / Paul Dulieu +44 (0)20 7822 0200
HSBC
Nick Donald / Nic Hellyer +44 (0)20 7991 8888
Notes to Editors
About Vectrix
* Vectrix listed on AIM in May 2007 and is the developer of the world's first
high performance, zero emission, electric motorcycle which is at least 10
times more powerful than existing electric power two wheel vehicles.
* Vectrix is dedicated to developing and commercializing zero emission vehicle
platform technologies focused on two-wheel applications. Longer term, Vectrix
plans to develop environmentally sensitive technologies for other segments
within the transportation industry.
* Vectrix is headquartered in Middletown, Rhode Island, USA, has a modern
vehicle assembly facility in Wroclaw, Poland and an R&D center in New Bedford,
Massachusetts.
* Vectrix was awarded the 2006 Frost & Sullivan Award for Technology Innovation
and Leadership in Alternative Vehicle Technologies.
* Transportation is the largest single source of air pollution in the world. A
typical motorcycle/scooter produces significantly more CO2 and pollutants than
a large diesel truck, and far more than a modern low emission automobile. The
Vectrix bike utilizes innovative zero-emission technology, offering customers
a clean, affordable, and much needed alternative.
About GP Batteries
* GP Batteries supplies an extensive range of primary and rechargeable battery
products to electronic manufacturers, leading battery companies as well as
consumer retail markets under its own GP brand name.
* It is the world's top ten battery manufacturer, the no.1 battery manufacturer
in Asia outside Japan, and the largest consumer battery manufacturer in China.
* It has been listed in Singapore since 1991. Its major production facilities
are located in Hong Kong, China, Taiwan, Singapore and Malaysia, supported by
marketing and trading offices spanning across Asia, Europe and North America.
This information is provided by RNS
The company news service from the London Stock Exchange
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