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. --------------------------------------------------------------------------- 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 --------------------------------------------------------------------------- Language: English Company: Youbisheng Green Paper AG c/o HRG Hansische Revisions-Gesellschaft, FerdinandstraÃe 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 ---------------------------------------------------------------------------
DGAP-Adhoc: Youbisheng Green Paper AG: Absence of the CEO and resignation of CFO
| Source: EQS Group AG