Asian Bamboo AG / Contract
21.01.2008
Release of a Corporate-announcement, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Hamburg, 21 January, 2008 Asian Bamboo Group, a leading producer of
bamboo trees and organic bamboo shoots in China, has signed another three
land lease contracts comprising a total acreage of approx. 6,000 ha of
already mature bamboo forest in the Fujian Province in China. The contracts
with a duration of 20 years as of 1 February 2008, envisage an average
lump-sum lease payment of some 4,700 per ha which amounts to approx. 28
million for the whole newly contracted acreage. The contracts finalise the
remaining three of five non-binding letters of intent and increase the
total newly contracted plantation acreage to approx. 10,000 ha of mature
land. Together with two new contracts having been closed in December, Asian
Bamboo has almost tripled the acreage of its mature bamboo resources since
the IPO from 5,090 ha to approx. 15,000 ha.
As a main part of the companys growth strategy, almost 49 million of
Asian Bamboo AGs IPO proceeds were intended to finance the long-term
contracting of additional mature bamboo forests in China. Due to improved
financial key terms of the new contracts the total investment in the
acquisition of the envisaged mature land could be reduced by almost 3
million to approx. 46 million. Asian Bamboo AG was listed on the Prime
Standard of the Frankfurt Stock Exchange on 16 November, 2007, having
raised net proceeds of approx. 74 million.
Due to long-term contracts including the most recent ones, the company
currently has access to 18 bamboo plantations comprising a total acreage of
more than 24,700 ha in Fujian province, one of the most suitable and
largest bamboo growing areas in China. The company intends to increase its
acreage to more than 30,000 ha by the end of 2010. The newly contracted
plantations will contribute to Asian Bamboo´s revenues and earnings
short-term as the land is already mature.
Mr. Zuojun Lin, CEO of Asian Bamboo AG, comments: 'Within only two months
we managed to contract approx. 10,000 ha of mature land which will
contribute to our growth already in 2008. Due to the improved financial key
terms we have achieved an extended scope for further investments to boost
our long-term growth.'
End
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About Asian Bamboo AG
Asian Bamboo Group is a leading bamboo producing company in China focusing
on two product categories: bamboo trees and organically grown bamboo
shoots. Due to long-term contracts the company at this stage has access to
18 bamboo plantations comprising a total acreage of more than 24,700 ha in
the Fujian province, one of the most important and suitable areas for the
growing of bamboo in China.
In 2006 the company sold in total 1.6 million bamboo trees and 25,000 tons
of fresh and processed bamboo shoots. Over the last three years, the
company has achieved a compound annual growth rate (CAGR) of 79% in
revenues to 10.89 million in 2006 and adjusted for changes in the fair
value of biological assets a CAGR of 127% in net profit to 3.94 million
in 2006. In the first nine months of 2007 Asian Bamboo Group generated
revenues of 11.7 million and an adjusted net profit of 6.1 million.
Asian Bamboo Groups registered office is located in Hamburg, Germany. Its
production facilities are located in Chinas Fujian province, one of the
main areas for growing bamboo in the Peoples Republic of China. As of 30
September 2007, Asian Bamboo Group had approximately 300 employees.
Further information on Asian Bamboo AG can be obtained at:
www.asian-bamboo.com
# # #
This document constitutes neither an offer to sell nor a solicitation to
buy securities of Asian Bamboo AG. The securities have already been sold.
This document is not an offer of securities for sale in the United States
of America. Securities may not be offered or sold in the United States of
America absent registration or an exemption from registration under the
U.S. Securities Act of 1933, as amended. The shares in Asian Bamboo AG have
not been and will not be registered under the U.S. Securities Act of 1933,
as amended, and are not being and will not be offered or sold in the United
States of America.
This document is directed at and/or for distribution in the U.K. only to
(i) persons who have professional experience in matters relating to
investments falling within article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (ii)
high net worth entities falling within article 49(2)(a) to (d) of the Order
(all such persons being together referred to as 'relevant persons'). This
document is directed only at relevant persons. Any person who is not a
relevant person should not act or rely on this document or any of its
contents. Any investment or investment activity to which this document
relates is available only to relevant persons and will be engaged in only
with relevant persons.
# # #
Matthias Link
Citigate Dewe Rogerson GmbH
Goethestraße 26-28
60313 Frankfurt am Main
Telephone: 0049-69 90 500-150
Fax: 0049-69 90 500-102
E-mail: matthias.link@citigatedr.de
DGAP 21.01.2008
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Language: English
Issuer: Asian Bamboo AG
Stadthausbrücke 1-3
20355 Hamburg
Deutschland
Phone: +49 40 37644 798
Fax: +49 40 37644 500
E-mail: cornelia.dieker@asian-bamboo.de
Internet: www.asian-bamboo.de
ISIN: DE000A0M6M79
WKN: A0M6M7
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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DGAP-News: Asian Bamboo AG: Asian Bamboo Group signs another three land lease contracts - Total acreage of mature plantations almost tripled since IPO another 28 million of the IPO proceeds invested
| Source: EQS Group AG