04.08.09

Jetion Solar: Management Update

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On 17 June 2009, Jetion Solar Holdings Limited announced that Roger Lijin Gai, ex-CEO, together with three ex-senior managers of the Chinese trading subsidiary (together as the “Ex-employees”), had been dismissed for breaches of their service contracts and fiduciary duties.

The legal proceedings associated with this action have been progressing as expected. However, the Company is keen to move forward and wholly focus its efforts on achieving its business targets and objectives for this year and the future. It has therefore agreed a settlement of action with the Ex-employees. The Board of Directors of the Company is satisfied with the results of this settlement and believes that such resolution was reached in the best interests of the Company as a whole.

The new senior management team appointed following the departure of the Ex-employees is performing well. A full update will be provided as part of the interim results announcement to be released in September 2009. The Company has now set up an Executive Committee comprising Gabriel Kow, Chairman and Interim CEO, Wenyan Xu, Executive Director and Chief Operating Officer, Eric Chan, Executive Director and Chief Financial Officer, and Raymond Wong, Executive Director, General Counsel and Company Secretary to manage the day-to-day operations and to devise the long term strategy of the Company. We will further set out details of our long term strategy in our interim results announcement.

Contact:
Gabriel Kow +44 (0) 78 1056 8788 or
Chairman and Interim CEO +86 136 0616 1871
Jetion Solar Holdings Limited
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