Cannell Capital LLC Calls upon All Owners of VIA Optronics AG to Help Stimulate Value in VIAO

Alta, Wyoming--(Newsfile Corp. - December 29, 2022) - On November 29, 2022 Cannell Capital LLC ("CC") sent a letter to VIA Optronics AG (NYSE: VIAO) ("VIAO") management. To wit, CC wrote:

"CC, a shareholder of 1,489,400 shares of VIA Optronics AG ADR as of November 28, 2022, writes you in accordance with section III.5 of the Invitation to the Annual General Meeting of VIA Optronics AG ("Invitation"), Request for Additions to the Agenda pursuant to Section 122 (2) of the German Stock Corporation Act (AktG).

Section III.5 of the Invitation requires that shareholders making an addition to the agenda hold at least 226,536 shares in VIA Optronics AG ("VIAO" or the "Company"). To evidence CC's ownership of such an amount, CC attaches the redacted statements from our custodian Goldman Sachs & Company proving that clients advised by CC have been the beneficial owner of no less than 1,021,201 shares of VIAO for the last ninety (90) days prior to the date of this letter (See Appendix "A"). It is the intention of CC to continue to hold these shares until a decision is made on CC's requests for additions to the agenda of the 2022 Annual General Meeting for VIAO.

CC requests that that following three (3) resolution proposals are added to the agenda of the 2022 Annual General Meeting to be held December 29, 2022.

First, VIAO shall no later than January 2023 launch a Modified Dutch Auction to buy back no fewer than €15 million worth of shares into treasury for cancellation.

Second, VIAO shall reduce the 2023 compensation of the board of directors and named executive officers of VIAO by 30% from 2022 levels.

Third, VIAO shall empower a strategic review subcommittee, which subcommittee shall be charged with the retention of a reputable investment bank to pursue strategic alternatives for VIAO, up to and including the sale of VIAO."

Shareholders never saw these proposals at the Company's 2021 General Meeting held on December 29, 2022, in Kaiserburg (Nuremberg), Germany because the wily management of your Company succeeded in disqualifying CC's agenda due to certain technicalities. Instead, amongst other actions the Company voted to approve the remuneration system of the members of the Management Board and the compensation of the members of the Supervisory Board. VIAO won. Owners lost.

Meanwhile, management seems oblivious that your Company's stock is down 80% in 2022 and continue to dance. CC would, however, argue that the music has stopped, the chairs are being stacked and the lights are being turned off.

CC encourages all injured owners to contact these members of the Supervisory Board of VIAO to freely and clearly express your concerns.

1. Dr. Heiko Frank
2. Arthur R. Tan
3. Anil Kumar Doradla
4. Anthony John Best
5. Shuji Aruga

Contact:
Stephen C. Wagstaff
info@cannellcap.com
307-733-2284

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/149870