DGAP-Adhoc

Asian Bamboo announces the sale of four plantations, revises down its FY 2015 guidance and updates on other corporate developments

Asian Bamboo AG / Key word(s): Change in Forecast/Miscellaneous

16.04.2015 15:17

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Asian Bamboo announces the sale of four plantations, revises down its FY
2015 guidance and updates on other corporate developments

Hamburg, 16 April 2015 - Asian Bamboo AG ("Asian Bamboo", "the Company",
ISIN: DE000A0M6M79, ticker symbol: "5AB", ADR ticker symbol "ASIBY") wishes
to disclose the following information:

- Plantation sales: The Company has completed the sales of four
plantations located in Kangda and Sirong with a total size of 2,215 ha.
The prices achieved were in line with the valuation done by an
independent third party and approved by the Supervisory Board in
September 2014. The payment has been received in full. The Management
Board will continue implementing its asset sales programme and it is in
continuing negotiations for sales of additional plantations in line
with previous announcements

- The operational performance: The first quarter 2015 performance has
been very weak and this together with a bleak outlook causes the
Company to revise down its guidance for the year to revenue of around
EUR 8 million and negative net operating cash flows of around EUR 2
million

- Annual report 2014 and AGM 2015: The audit is basically completed, but
due to the petition for insolvency proceedings submitted by DEG and
PROPARCO the completion of the annual report will be delayed and
consequently the date of the AGM is also likely to be delayed. The new
dates will be released as soon as possible

- DEG and PROPARCO's petition for insolvency proceedings: The Company has
submitted its response, emphasizing the Company's and Mr. Lin's strong
cash positions and is awaiting the court decision. The Management Board
believes that DEG and PROPARCO submitted their petition for insolvency
proceedings to put pressure on the company which complicates its daily
business. However, this is already included in the guidance

- Fund raising and property investments: Due to the petitions for
insolvency proceedings the planned fund raising and entry to the