DGAP-Adhoc: Asian Bamboo AG revises guidance for 2015

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News Desk 2018

Nov 16, 2015 at 3:15 AM

Asian Bamboo AG / Key word(s): Change in Forecast 16.11.2015 09:04 Dissemination of an Ad hoc announcement according to Â§ 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Asian Bamboo AG revises guidance for 2015 - Net cash generated from operating activities for the first nine months of the year was negative EUR 8.2 million (preliminary) - Management Board changes the Net cash generated from operating activities forecast for the year to negative EUR 10 million - The revenue forecast of EUR 2 million remains unchanged Hamburg, 16 November 2015 - Asian Bamboo AG ("Asian Bamboo", "the Company", ISIN: DE000A0M6M79, ticker symbol: "5AB", ADR ticker symbol "ASIBY") informs that the performance year-to-date was worse than anticipated. The negative net cash generated from operating activities for the first nine months of the year had the following key items: - Negative operating cash flow before movements in working capital in Q1-Q2 of around EUR 3.6 million - Negative operating cash flow before movements in working capital, excluding road repair costs, in Q3 of around EUR 1.8 million - Road repair costs of around EUR 2.9 million incurred in Q3 This means that the Company's negative operating cash flow is likely to increase from the previous estimate of negative EUR 5-6 million to negative EUR 10 million for the year. The revenue forecast of EUR 2 million remains unchanged. 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 registration of any prospectus or offering document relating to the shares in such jurisdiction. No action has been taken by Asian Bamboo or any of their affiliates that would permit an offering of the shares or possession or distribution of this announcement or any other offering or publicity material relating to such securities in any jurisdiction where action for that purpose is required. As far as this release contains forward-looking statements with respect to the business, financial condition and results of operations of Asian Bamboo, these statements are based on current expectations or beliefs of Asian Bamboo's management. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or performance of the Company to differ materially from those reflected in such forward-looking statements. Apart from other factors not mentioned here, differences could occur as a result of changes in the overall economic situation and the competitive environment - especially in the core business segments and markets of Asian Bamboo. Also, the development of the financial markets and changes in national as well as international provisions particularly in the field of tax legislation and financial reporting standards could have an effect. Terrorist attacks and their consequences could increase the likelihood and the extent of differences. Asian Bamboo undertakes no obligation to publicly release any revisions or updates to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. 16.11.2015 The DGAP 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: Asian Bamboo AG StadthausbrÃ¼cke 1-3 20355 Hamburg Germany Phone: +49 40 37644 798 Fax: +49 40 37644 500 E-mail: info@asian-bamboo.de Internet: www.asian-bamboo.de ISIN: DE000A0M6M79, DE000A0M6M79 WKN: A0M6M7, A0M6M7 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------

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