Our Profile Corporate Announcements Sinotel attracts International Fund
SINOTEL ATTRACTS INTERNATIONAL FUND FROM THE USASingapore, 11 June, 2009 - Sinotel Technologies Ltd. ("Sinotel" or the "Group"), an innovator in the provision of wireless telecommunications infrastructure and solutions in the PRC, announced today that it has added Barron Partners LP to the Group's list of shareholders. Owing to strong demand from institutional investors, Mr Pan Liang, Executive Director of the Group, relinquished 6 million ordinary shares ("Shares") of the Company at S$0.22 per share to Barron Partners LP and accounts managed by Barron Capital Holdings, Inc. through his wholly owned investment company, Vitanet Investment Ltd. The Shares represent 2.14% of the issued and paid-up share capital of the Company. Barron Partners LP is a private investment fund based in New York with approximately US$100 million in assets and specializes in micro-cap companies. According to Mr Andrew Barron Worden, Chairman and CEO of Barron Partners LP, Barron Partners LP and accounts managed by Barron Capital Holdings, Inc. had already acquired approximately 3.6 million shares of the Company from the open market prior to the above transaction. Mr Worden added, "We have taken a keen interest in Sinotel given the company's strong potential in the midst of a telecommunications boom in China. We believe that this sector will remain resilient and continue to outperform other industries despite the economic downturn." With the completion of the Share Sale, Barron Partners LP and accounts managed by Barron Capital Holdings, Inc. now holds approximately 9.6 million Shares of the Company, representing 3.4% of the issued and paid-up share capital.
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