6th Dec 2012 07:00
Vmoto LIMITED
("Vmoto" or the "Company")
TRADING UPDATE
announcement 6 December 2012
Vmoto (ASX:VMT, AIM:VMT), the global scooter manufacturing and distribution group specialising in "green" electric powered scooters, makes the following announcement regarding current trading.
HIGHLIGHTS
·; Production of PowerEagle scooters on track for 6,000 units by year end
·; Commenced distribution trials of Vmoto's electric scooter in a number of new territories
PowerEagle
As at the end of November 2012, the Company had produced and delivered 2,869 units to PowerEagle and remains on track to fulfil the scheduled production of 6,000 units by the end of 2012 as previously advised.
Trials
The Company is commencing distribution trials with groups in Israel, Lebanon and Germany. Samples are en route to respective distributors and decisions to enter into formal distribution agreements, which are not guaranteed at the time, can typically take 6-12 months.
Australia
In Australia the Company is in the process of getting compliance approval for its new E-Milan, an electric version of its petrol Milan scooter, which has previously sold well. All regulatory approvals for the E-Milan are expected to be given in H1 2013, following which the Company and its distributor will formally launch a marketing campaign in Australia.
Further announcements in relation to both Chinese and world operations will be made as and when appropriate.
AUTHORISED BY:
Charles Chen
Managing Director
For further enquiries, please contact:
Vmoto | |
Charles Chen, Managing Director Olly Cairns, Non-Executive Director | +86 25 6881 1550 +61 (8) 6267 9030 |
finnCap (AIM nominated adviser and broker) | +44 (0) 20 7220 0500 |
Ed Frisby (corporate finance) Christopher Raggett (corporate finance) Tony Quirke (corporate broking) | |
Tavistock Communications | +44 (0) 20 7920 3150 |
Simon Compton | |
John West |
About Vmoto
Vmoto is a global scooter manufacturing and distribution group and listed on the Australian Stock Exchange (ASX) and on the AIM market of the London Stock Exchange. The Company specialises in high quality "green" electric powered scooters and manufactures a range of western designed electric (and some petrol) scooters from its low cost manufacturing facilities in Nanjing, China, marketed in Europe through its operation in Barcelona, Spain and marketed outside Europe through its operations in Australia. Vmoto combines low cost Chinese manufacturing capabilities with European design. The group operates through two primary brands: Vmoto (aimed at the value market in Asia) and E-Max (targeting the Western markets, with a premium end product). As well as operating under its own brands, the Company also sells to a number of customers on an original equipment manufacturer ("OEM") basis.
Please visit http://www.vmoto.com/investors.asp?id=27 for recent pictures of production of PowerEagle Scooters
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