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GoldPeak Batteries Announces the Acquisition of Vectrix

Vectrix has a bright future ahead!

On the 6th of November 2009 GoldPeak Batteries International announced the acquisition of all assets
and certain liabilities of Middletown RI based Vectrix Corporation. Before that, Vectrix Corporation filed
for bankruptcy under chapter 11, US bankruptcy law (for details please see official press release from GP
published Nov, 6th).
Gold Peak Group is a public listed company in Singapore and Hong Kong and is one of the leading
battery suppliers worldwide.
GoldPeak established for this transaction a Delaware based company called New Vectrix and re-named
as Vectrix Corporation. Vectrix Corporation is 100 % owned by GP Batteries through EVB Technology
(HK) Limited. The organizational structure of the new company will be communicated later
The Vectrix Corporation is now working to consolidate all the activities (headquarter, sales, technology
and production). Lean manufacturing is based in Wroclaw, Poland and keep continues operation as
usual
Vectrix continues to produce the Vx1 bikes and provides customers with accessories, spare parts and
technical support.
The company is currently developing new models of high performance, zero emission scooters and will
be introducing them in the near future: By the summer 2010 a new version of the Vx1 including several
technical improvements will be introduced to the market. The new Vx1 will have a GoldPeak Li Iron
Phosphate Battery. For the existing Vx1 customers, an upgrade kit to the Li battery technology will be
offered.
Two smaller electric scooters are also under development: one will be a 50cc equivalent and one will be
a 150cc equivalent. Both scooters will be powered by a GP Li Iron Phosphate battery.
Vectrix will inform all dealers at appropriate time about the technical performance parameters,
availability and price structures of the new bikes.
Vectrix acknowledges all warranty claims in Europe regarding Vx1 bikes which were maintained
according to the operator's manual and which were officially registered for warranty with Vectrix.
Wolfgang Gohl, former Vice president for Operations and new Vice President commented the take over
by Goldpeak: “This move is a triple win for customers, suppliers and for the employees. It provides the
required stability to develop the key market and the right product. The EV market is just starting to
emerge, first policies are under development and Vectrix and his partners are in a prime position to
supply a quality product for various applications.”
Wesley Lau, Head of Strategies Business Unit & Special Project – GP Batteries and New assigned
President of Vectrix commented the partnership: “Vectrix is the leading brand in the electric 2-wheel
market. This is based on a superior product and good positioning in the market. We will work with all
our customers to enhance this position and provide even better solutions to the electric vehicle
market”.
Wroclaw, Nov, 15th, 2009

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October 2009
Exclusive importation and re-branding agreement signed with Vectrix.

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London, 10th November 2009. Hesketh Motorcycles Ltd “HMC” (A division of Hesketh Motor Company Ltd) is pleased to announce that it has secured an exclusive deal with New Vectrix, which is continuing production of its world-renown zero emission electric bikes.
The bikes will be sold in the UK under the brand name “Hesketh” and will be called the Hesketh HZE-Vectrix. It will be marketed as a premium product for the commuter market with two new models expected during the course of 2010.

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...to offer a new contract to the current network of dealers which will include continued support* for all Vectrix bikes sold in the last two years.

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Vectrix Enters Into Asset Purchase Agreement
MIDDLETOWN, R.I., Sept. 28 /PRNewswire/ --- Vectrix Corporation (AIM: VRX) (www.vectrix.com), a leader in Personal Electric Vehicles, announced today that it has entered into an asset purchase agreement to sell most of the assets of the Company to New Vectrix LLC ("New Vectrix"), a Delaware limited liability company sponsored by GH Venture Partners LLC. As part of the agreement, Vectrix has filed a voluntary petition for relief under chapter 11 of the United States Bankruptcy Code in Wilmington, Delaware whereby the sale of the assets, including its stock ownership of its European subsidiaries, will be effected pursuant to section 363 of the Bankruptcy Code. The assets will be sold pursuant to a sales and procedures order that is anticipated to be approved by the Bankruptcy Court to either New Vectrix LLC or to another buyer who is determined by the Bankruptcy Court to have offered a higher and better bid for the assets of the Company. During this process, the Company expects to continue normal business operations consistent with its obligations as a chapter 11 debtor-in-possession company under the jurisdiction of the Bankruptcy Court. The Company's subsidiary, Vectrix Poland Sp. z.o.o., will continue to produce the Vectrix bike and will provide customers with accessories, spare parts and technical support.

Commenting on the sale, Mike Boyle, CEO of Vectrix, said, "This transaction provides a platform to continue the Vectrix brand and its advanced electric vehicle technology. We want to express our appreciation to our partners and customers for their continued patience and support during this transition."

Terms of Asset Purchase Agreement
Under the Asset Purchase Agreement, New Vectrix LLC would purchase substantially all of the Company's assets and assume certain of the Company's liabilities through a supervised sale under section 363 of the Bankruptcy Code. Providing New Vectrix LLC is the winning bidder they have also agreed to extend warranty coverage on the Vectrix vehicles previously sold to dealers and consumers up to a $2,000,000 cap for claims filed 60 days post-petition. The total purchase price consists of a cash payment of $1,750,000 plus the assumption of up to $3,306,000 in specified liabilities for a total purchase price of up to $5,056,000, but is subject to higher and better bids, approval of the Bankruptcy Court and customary closing conditions. The Company expects to engage in a bidding process with other interested parties. Those interested in submitting bids should contact John D. McGuinness, Chief Financial Officer, at 401-848-9993 ext 103, or via email at jmcguinness@vectrixusa.com, as soon as possible as competing bids are expected to be due by October 27, 2009.

The Company's report and accounts for the year ended September 30, 2008 will not be published before September 30, 2009. On that date, trading on AIM in the Company's securities will have been suspended from trading for six months, and as a consequence of AIM Rule 41 those securities' admission to AIM will be cancelled with effect from October 1, 2009.

About Vectrix Corporation
Vectrix Corporation was formed in 1996 to develop and commercialize zero-emission vehicle platform technologies focused on two-wheel applications. The single focus of Vectrix has been to provide clean, efficient, reliable and affordable urban transportation. Vectrix Corporation has headquarters in Middletown, R.I., engineering and test facilities in New Bedford, Mass., sales offices in the UK and a manufacturing facility in Wroclaw, Poland.

SOURCE Vectrix Corporation

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President Obama Announces $2.4 Billion in Grants to Accelerate the Manufacturing and Deployment of the Next Generation of U.S. Batteries and Electric Vehicles

Did Obama send a check already?

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"I do have some information but can not share as the law firm I work at is working for one of our clients and we can not divulge specific information. But I can tell you this when this deal is completed in the next few days the compay will be as strong as the strongest companies out there. Plus the brand will live on and the problems that existed before will be fixed. I was doing research when I found this site for the client and I just do not want them to have to change everyones minds about it being dead or not. They have done extensive planning over the weekend in order to gt things moving. That is all I can say if I am lying may I die.
(...) it is not Harley buying Vectrix I promise you that. As for the financial issues the company currently has will not transfer and be a burden to the next company as it can be a brand and assett only purchase. The corporation does not need to live on for Vectrix to survive only the brand with the IP for the inovations need to survive. In other words it is not as dire as most people think it is. The corporation after sale of assetts can file bankruptcy and go away with the brand name and the scooters living on."

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