Youbisheng Green Paper AG

  • WKN: A1KRLR
  • ISIN: DE000A1KRLR0
  • Land: Deutschland

Nachricht vom 07.08.2014 | 19:21

Youbisheng Green Paper AG about to file for insolvency


Youbisheng Green Paper AG  / Key word(s): Insolvency/Change of Personnel

07.08.2014 19:21

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.


Youbisheng Green Paper AG about to file for insolvency Hamburg, 7 August 2014 - Haibo Huang, who had been appointed new Chief Executive Officer of Youbisheng Green Paper AG last week, informed the Supervisory Board about his immediate resignation. After the experiences of the past days he does not feel to be in a position to meet the requirements of the Supervisory Board in the present state. Hence, the actual financial and cash situation of the operative Chinese company remains unclear. Against this background and in the light of the insufficient liquidity of the German holding company as well as the leadership vacuum associated with the resignation of Haibo Huang, the Supervisory Board sees itself forced to file for insolvency within the next days in order to protect creditors and shareholders. However, the Supervisory Board will - possibly together with a liquidator - continue to fight for the dialog with the operating entity in China in order to shed light upon the present situation.
Information and Explaination of the Issuer to this News: For further information please contact: Kirchhoff Consult AG Sebastian Bucher Tel.: +49 (0)40 60 91 86 18 sebastian.bucher@kirchhoff.de Youbisheng Green Paper AG c/o HRG Hansische Revisions-Gesellschaft mbH Wirtschaftsprüfungsgesellschaft Ferdinandstrasse 25 20095 Hamburg contact@youbisheng-greenpaper.de Disclaimer concerning prognoses This communication contains forward-looking statements Forward-looking statements are statements that are not historical facts instead they reflect the current views and expectations of Youbisheng Green Paper AG 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 materialize or if the assumptions underlying any of the forward-looking statements of Youbisheng Green Paper AG are proving to be incorrect, the actual results of Youbisheng Green Paper AG may be materially different from those expressed or implied by such forward-looking statements. Youbisheng Green Paper AG 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. 07.08.2014 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: Youbisheng Green Paper AG c/o HRG Hansische Revisions-Gesellschaft, Ferdinandstraße 25 20059 Hamburg Germany Phone: +49 (0)40 60 91 86 0 Fax: +49 (0)40 60 91 86 60 E-mail: ir@youbisheng-greenpaper.de Internet: www.youbisheng-greenpaper.de ISIN: DE000A1KRLR0 WKN: A1KRLR Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf End of Announcement DGAP News-Service

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