DGAP-Adhoc

Ultrasonic AG: CEO and COO disappeared, most of the company's cash missing

Ultrasonic AG / Key word(s): Miscellaneous

16.09.2014 15:46

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Ultrasonic AG: CEO and COO disappeared, most of the company's cash missing

Cologne, 16 September 2014 - Chi Kwong Clifford Chan, CFO of Ultrasonic AG,
informed the Supervisory Board that since the weekend he has been unable
to reach both the company's CEO, Qingyong Wu, and the company's COO,
Minghong Wu. Inquiries initiated thereupon, revealed that both, CEO and
COO, apparently left their homes and are not traceable. Moreover, Mr. Chan
was informed by the accounting department that most of the company's cash
funds at PRC and Hong Kong levels have been transferred being no longer in
the company's range of influence. However, the German holding company has a
relevant six-figure amount in command so that the company currently is able
to meet its payment obligations as normal. Mr. Chan and the Supervisory
Board are in talks with authorities and business partners, trying to gather
further information to clarify the situation. As soon as new, reliable
facts can be verified, they will be disclosed immediately.


About Ultrasonic

The Cologne-based company Ultrasonic AG is the German holding company of
the Chinese ULTRASONIC Group, an established manufacturer and supplier of
high-quality branded urban footwear. The Group has around 1,400 employees
and operates in three main market segments, each of which currently
contributes about a third of revenue. ULTRASONIC produces sandals and
slippers for the upper price segment for the local and international
market. It is also a long-term supplier of shoe soles to leading
manufacturers in the established Chinese sport shoe industry such as Anta,
Xtep and Unisuper. Moreover, the company has developed its own very
successful high-quality urban footwear collection which is marketed under
the ULTRASONIC brand and targets China's young, fashion-conscious urban
middle class, which has high purchasing power and expects high quality. The
ULTRASONIC product line is currently marketed via more than 110 mono-label
shops.

For further information about the company visit: www.ultrasonic-ag.de


For enquiries:

Ultrasonic AG
Chi Kwong Clifford Chan
Member of the Management Board and CFO
E-Mail: [e-mail]
Tel.: [phone] (China), [phone] (Hong Kong)


Disclaimer:
This document is no offer for the purchase of securities in the United
States of America. Securities may only be sold or offered for sale with the
previous registration under the U.S. Securities Act of 1933 in the actual
valid version or without previous registration only pursuant to an
exemption. The shares of Ultrasonic AG (the 'Shares') have not been
registered under the U.S. Securities Act of 1933 in the actual valid
version and may not be sold or offered in the United States.

This document is only being distributed to and is only directed at (i)
persons who are outside the United Kingdom or (ii) to investment
professionals falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (iii)
high net worth entities, and other persons to whom it may lawfully be
communicated, falling within Article 49(2)(a) to (d) of the Order (all such
persons together being referred to as 'relevant persons'). The Shares,
which are referred to, are only available to relevant persons and any
invitation, offer or agreement to subscribe, purchase or otherwise acquire
such securities will be engaged in only with, relevant persons. Any person
who is not a relevant person should not act or rely on this document or any
of its contents.


16.09.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: Ultrasonic AG
c/o BPG mbH, Graf-Adolf-Platz 12
40213 Düsseldorf
Germany
Phone: [phone] (China); [phone] (Hong Kong)
Fax: [phone]
E-mail: [e-mail]
Internet: www.ultrasonic-ag.de
ISIN: DE000A1KREX3
WKN: A1KREX
Indices: CDAX, Classic All Share, DAXsector All Consumer, DAXsector
Consumer, DAXsubsector All Clothing & Footwear, DAXsubsector
Clothing & Footwear, Prime All Share
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Stuttgart

End of Announcement DGAP News-Service

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