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.
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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.
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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
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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
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DGAP-Adhoc: Youbisheng Green Paper AG about to file for insolvency
| Source: EQS Group AG