Vianet Technologies, Inc. Suspends Issuance of Shares to Develcon Shareholders
7 June 1999
Vianet Technologies, Inc. Suspends Issuance of Shares to Develcon Shareholders
NEW YORK--June 4, 1999--Vianet Technologies, Inc. (OTC:VNTK) announced today that due to suspected irregularities in trading of company shares the company intends to suspend the issuance of it's shares to Develcon shareholders pending a review of compliance. It is the company's belief that some Develcon shareholders may have violated and attempted to circumvent the restrictive covenant of the arrangement agreement dated Feb 16, 1999. The review process is expected to be comprehensive to insure full and complete compliance.Except for the historical information contained herein, the statements in this announcement are forward looking statements which involve risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, the forward looking statements. Factors that might cause such a difference include, but are not limited to, those relating to: the acquisitions by Vianet; the success of Vianet's application for a NASDAQ SmallCap Market listing; general economic conditions in the markets in which the companies operate; success in the development and market acceptance of new and existing products; dependence on suppliers, third party manufacturers and channels of distribution; customer and product concentration; fluctuations in customer demand; maintaining access to external sources of capital; ability to execute management's margin improvement and cost control plans; overall management of the companies' expansion; obtaining of necessary regulatory approvals; and other risk factors detailed from time to time in the companies' filings with regulatory bodies.
visit: Vianet at http://www.vianettechnologies.com
Develcon at http://www.develcon.com
Infinop at http://www.infinop.com