Snowbird AG / Key word(s): Strategic Company Decision
25.08.2015 14:23
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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Snowbird AG terminates plans of a Secondary Listing in Singapore
Hamburg, 25 August 2015 - As announced in January 2015, Snowbird AG (ISIN:
DE000A1PHEL8, Ticker Symbol: 8S9), listed on the Frankfurt Stock Exchange,
Prime Standard Segment, since September 2014, planned a secondary listing
on the Singapore Stock Exchange to take place in the second half of this
year. The listing should have been combined with a capital increase.
In view of tough market conditions for a China-based company, the Snowbird
management has decided to terminate the plans for a secondary listing in
Singapore.
The management will therefore intensify negotiations with alternative
sources of funding to finance future expansion of the business as
scheduled.
Snowbird AG - one of largest down processing companies worldwide
Snowbird is one of the world's leading down processors and known for high
quality down-filled textiles and for down bedding, down duvets and down
pillows. With its new state of the art production facility, located in
China, Henan Province, the company is able to process down at highest
quality standards in a sustainable and environmental friendly way. Snowbird
operates profitable along the value chain from down processing to down
clothing and down bedding production. Products are sold under the brands
"Snowbird" or "Xueniao" or produced as white label based on orders from
third parties.
Investor Relations Contact
Please direct all your requests to:
max. Equity Marketing GmbH, Maximilian Fischer, Marienplatz 2, 80331
Munich, Germany
Tel: +49 89 139 28890 E-Mail: ir@snowbird-ag.com
IMPORTANT NOTE - Disclaimer
This publication constitutes neither an offer to sell nor an invitation to
buy securities. The shares in Snowbird AG (the "Shares") may not be offered
or sold in the United States or to or for the account or benefit of "U.S.
persons" (as such term is defined in Regulation S under the U.S. Securities
Act of 1933, as amended (the "Securities Act")). Furthermore, the shares
may not be offered or sold in Japan or to or for the account or benefit of
Japanese citizens.
25.08.2015 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: Snowbird AG
c/o HRG Hansische Revisions-Gesellschaft mbH, Ferdinandstr. 25
20095 Hamburg
Germany
Phone: +49 89 139 28890
Fax:
E-mail: ir@snowbird-ag.com
Internet: www.snowbird-ag.com/de
ISIN: DE000A1PHEL8
WKN: A1PHEL
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Dusseldorf, Hamburg, Munich, Stuttgart,
Tradegate Exchange
End of Announcement DGAP News-Service
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DGAP-Adhoc: Snowbird AG terminates plans of a Secondary Listing in Singapore
| Source: EQS Group AG