DGAP-Adhoc
Asian Bamboo AG lowers its revenue and cash flow forecast
Asian Bamboo AG / Key word(s): Profit Warning
16.07.2015 18:01
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 AG lowers its revenue and cash flow forecast
Hamburg, 16 July 2015 - Asian Bamboo AG ("Asian Bamboo", "the Company",
ISIN: DE000A0M6M79, ticker symbol: "5AB", ADR ticker symbol "ASIBY")
informs that the Company lowers its revenue forecast for the year from EUR
8 million to EUR 2 million and expects a widening negative operating cash
flow from the original forecast of EUR 2 million to EUR 3 million primarily
caused by the structural changes facing the plantations and further
exacerbated by the negative impact on the business development caused by
the insolvency writs towards the Company issued by DEG and PROPARCO in
addition to the structural challenges facing the plantation business.
Despite the fact that the annual report cannot be finalized due to the
insolvency writs towards the Company issued by DEG and PROPARO, the
Management Board plans to announce unaudited Q1 2015 and Q1-Q2 2015
financial statements, based upon the preliminary financial statements
completed on 6 March 2015, before the end of August 2015.
Disclaimer:
This release is for information only and does not constitute an offer to
sell, purchase, exchange or transfer any securities or a solicitation of
any such offer in the United States or any other jurisdiction. The
securities referred to herein have not been and will not be registered
under the U.S. Securities Act of 1933, as amended (the 'Securities Act')
and may not be offered or sold in the United States absent registration or
an exemption from registration under the Securities Act. Neither Asian
Bamboo AG ("Asian Bamboo") nor any other participant in the transactions
described herein intends to register any securities under the Securities
Act or with any securities regulatory authority of any state or other
jurisdiction in the United States in connection with the proposals
described in this announcement. The shares may not be offered to the public
in any jurisdiction in circumstances which would require the preparation or
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Asian Bamboo AG lowers its revenue and cash flow forecast
Hamburg, 16 July 2015 - Asian Bamboo AG ("Asian Bamboo", "the Company",
ISIN: DE000A0M6M79, ticker symbol: "5AB", ADR ticker symbol "ASIBY")
informs that the Company lowers its revenue forecast for the year from EUR
8 million to EUR 2 million and expects a widening negative operating cash
flow from the original forecast of EUR 2 million to EUR 3 million primarily
caused by the structural changes facing the plantations and further
exacerbated by the negative impact on the business development caused by
the insolvency writs towards the Company issued by DEG and PROPARCO in
addition to the structural challenges facing the plantation business.
Despite the fact that the annual report cannot be finalized due to the
insolvency writs towards the Company issued by DEG and PROPARO, the
Management Board plans to announce unaudited Q1 2015 and Q1-Q2 2015
financial statements, based upon the preliminary financial statements
completed on 6 March 2015, before the end of August 2015.
Disclaimer:
This release is for information only and does not constitute an offer to
sell, purchase, exchange or transfer any securities or a solicitation of
any such offer in the United States or any other jurisdiction. The
securities referred to herein have not been and will not be registered
under the U.S. Securities Act of 1933, as amended (the 'Securities Act')
and may not be offered or sold in the United States absent registration or
an exemption from registration under the Securities Act. Neither Asian
Bamboo AG ("Asian Bamboo") nor any other participant in the transactions
described herein intends to register any securities under the Securities
Act or with any securities regulatory authority of any state or other
jurisdiction in the United States in connection with the proposals
described in this announcement. The shares may not be offered to the public
in any jurisdiction in circumstances which would require the preparation or
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