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VIANET Technology Group, Ltd. Announces Agreement to Merge with VIANET Direct, Inc.

NEW YORK -- VIANET Technology Group, Ltd. (OTCBB:VTGL) announced today that it had reached a definitive agreement whereby its wholly-owned subsidiary, VIANET Acquisition Corp., will undertake a merger with VIANET Direct, Inc. The closing of the transaction will take place upon receipt of approval by the appropriate regulatory authorities.

VIANET Direct, Inc. (www.vianetdirect.com) is a real-time, virtual, interactive and anonymous trading system for all equities. VIANET provides an electronic platform in which institutions and financial intermediaries are directly linked to the largest pool of liquidity: the "point of sale" on the New York Stock Exchange (NYSE). A block trading system, VIANET provides for unique direct access, continuous order matching, timed crossing sessions, initiation of auctions and the ability to electronically search for hidden liquidity.

VIANET Technology Group, Ltd., formerly Pender International, Inc., previously announced its sale of its wholly-owned subsidiaries Montebello Developments Corp. and IMM Investments, Inc.

Certain statements in this press release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules, including, without limitation, statements regarding potential future plans and objectives of the company. Forward-looking statements involve risks and uncertainties; there can be no assurance that such statements will prove accurate, and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
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Publication:Business Wire
Date:Jul 1, 2005
Words:294
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