DGAP-Adhoc: Youbisheng Green Paper AG: Absence of the CEO and resignation of CFO

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| Source: EQS Group AG
Youbisheng Green Paper AG  / Key word(s): Change of Personnel

04.07.2014 17:59

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.

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Hamburg, 4 July 2014 - For several weeks there has been an unexplained
absence of the Chairman of the Management Board and CEO of Youbisheng Green
Paper AG, Mr Haiming Huang. The Supervisory Board was informed about the
absence of the CEO on June 20, 2014. Also, Mr David Tsui, member of the
Management Board and CFO, was not allowed to access the company premises in
China by the company operating staff for reviewing the company's accounts.
Until today, the Supervisory Board and David Tsui have not received any
updated information on the whereabouts of Mr Huang as well as on the
financial and liquidity situation of the Chinese subsidiaries despite
intense investigations. As a result, David Tsui has resigned from his
position as member of the Management Board in mutual agreement with the
Supervisory Board effective as of July 25, 2014.

Due to these circumstances the Supervisory Board of Youbisheng Green Paper
AG has decided at today's meeting to look for and appoint a new member of
the Management Board in order to intensify investigations about the
whereabouts of Mr Huang and to secure the observance of operational and
legal duties of the company. The Management Board and the Supervisory Board
will inform the investors immediately when new progress can be reported.


04.07.2014 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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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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