DGAP-Adhoc: FAST AG resolves capital increase FAS

FAST Casualwear AG / Key word(s): Capital Increase 14.10.2013 19:21 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- FAST AG resolves capital increase Hamburg, 14 October 2013 - The Management Board of FAST Casualwear, a manufacturer of casual footwear and apparel in China, decided with the approval of the Supervisory Board to carry out a capital increase for cash by EUR 880,000.00 to EUR 12,200,000.00 by issuing 880,000 new shares at a price of EUR 1.25 and using the authorized capital. The capital increase will be carried out excluding the right of subscription of the shareholders and subscribed solely by the major shareholder Mr. Wing Chi Chong. The new shares shall carry dividend rights for the financial year 2012. The gross proceeds amounting EUR 1,100,000.00 are to be used to support the overall working capital and further growth. In particular, in line with FAST's strategy to expand the distribution network and strengthen the product development of the own brand FAST. --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: About FAST Casualwear AG FAST Casualwear AG is the German holding company of FAST Group, a Chinese group of companies engaged in the design, production and sale of casualwear, consisting of footwear and apparel including accessories. It mainly designs and produces casualwear under its own brand name 'FAST', targeting consumers aged between 16 and 35 primarily in the lower tier cities in China. FAST distributes its own brand products through 26 unaffiliated regional distributors, who sell the products via retail outlets operated either by themselves or by third party sub-distributors. Its distribution network consists of 931 retail outlets in over 100 cities throughout China. FAST also designs and produces footwear as contract manufacturer for international brand owners, mainly from Europe and the U.S. FAST's operating facilities are located in the southeast of China in Jinjiang City, Fujian Province, one of the largest footwear manufacturing hubs in China. FAST employs around 981 employees. For further information please visit www.fast-casualwear.com or contact Kirchhoff Consult AG Dr. Kay Baden Tel: +49 (0)40 609 186 39 E-mail: baden@kirchhoff.de Disclaimer concerning prognoses This communication contains forward-looking statements. Forward-looking statements are statements that are not historical facts instead they reflect FAST Casualwear's current views and expectations and the assumptions underlying them about future events. Forward-looking statements are subject to many risks and uncertainties. If any of such risks and uncertainties materialise or if the assumptions underlying any of FAST Casualwear's forward-looking statements are proving to be incorrect, FAST Casualwear's actual results may be materially different from those expressed or implied by such forward-looking statements. FAST Casualwear does not intend or assume any obligation to update these forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made. 14.10.2013 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: FAST Casualwear AG c/o Kirchhoff Consult AG, Herrengraben 1 20459 Hamburg Germany Phone: 040 60 91 86 0 Fax: 040 60 91 86 60 E-mail: fast@kirchhoff.de Internet: www.fast-casualwear.com ISIN: DE000A1PHFG5 WKN: A1PHFG Listed: Regulierter Markt in Frankfurt (Prime Standard) End of Announcement DGAP News-Service ---------------------------------------------------------------------------