DGAP-Adhoc

Asian Bamboo has received petitions for insolvency proceedings from DEG and PROPARCO

Asian Bamboo AG / Key word(s): Miscellaneous

16.03.2015 18:54

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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Asian Bamboo has received petitions for insolvency proceedings from DEG and
PROPARCO

Hamburg, 16 March 2015 - Asian Bamboo AG ("Asian Bamboo", "the Company",
ISIN: DE000A0M6M79, ticker symbol: "5AB", ADR ticker symbol "ASIBY")
informs that DEG and PROPARCO have filed petitions for insolvency
proceedings in respect of Asian Bamboo with the local court of Hamburg. The
petitions are related to termination of the loan agreements with DEG and
PROPARCO and the respective claims for immediate repayments of USD
16,407,816.34 and EUR 13,951,043.33, respectively.

The Management Board is of the opinion that DEG and PROPARCO are not
behaving responsibly towards the Company and its shareholders particularly
in light of the many accelerated repayment proposals which have been put
forward by the Company and also Mr. Lin in his private capacity. The
Management Board has instructed its legal advisers to examine all legal
aspects of this issue.

However, the Company has sufficient funds and credit-facilities to repay
all outstanding receivables including the amount claimed by DEG and
PROPARCO. As of 31 December 2014, as announced on 6 March 2015, the Company
had cash and cash equivalents in an amount of EUR 24.2 million
(preliminary). In addition, Mr. Lin has set up a credit facility of RMB 100
million, roughly equivalent to EUR 15.1 million between the Company and
himself. Moreover the Company is asset rich, generates positive operating
cash flows and has the continued backing of Mr. Lin Zuojun, the Company's
founder, largest shareholder and CEO. In particular Mr. Lin has the means
and willingness to buy the PROPARCO and DEG loans.

For enquiries, please contact:

Asian Bamboo AG:

Peter Sjovall [phone]
Chief Financial Officer [e-mail]

Anja Holst [phone]
Investor Relations Director [e-mail]

About Asian Bamboo AG:

Asian Bamboo currently owns long-term leasing rights for 40 bamboo
plantations with a total size of 50,338 hectares (ha). It is planning to