DGAP-News: Asian Bamboo AG: CEO agrees on lock-up extension and purchased additional shares

 | Source: EQS Group AG EQS Group AG 

Asian Bamboo AG / Miscellaneous

01.04.2008 

Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Asian Bamboo’s CEO agrees on lock-up extension 
and purchased additional shares

Hamburg, April 1st, 2008 – Asian Bamboo AG ('Asian Bamboo', Ticker Symbol
'5AB') announces that CEO and founder Zuojun Lin has agreed with the IPO
underwriters Sal. Oppenheim jr. & Cie. KGaA and BOCI Asia Limited to extend
his existing Market Protection Agreement (Lock-up), which was entered into
prior to the Company’s IPO for a period of two years.
With the agreement, Zuojun Lin who holds approx. 57.04% in the company’s
share via his investment holding Green Resources Enterprise Holding Ltd.
agreed not to sell shares, directly or indirectly without the prior written
consent of Sal. Oppenheim jr. & Cie. KGaA. This extended lock-up period is
valid until the expiry date of 15th November 2009.

Furthermore, CEO Mr Lin has acquired an additional 20,000 shares of the
Company's common stock for a total purchase value of approx. € 160,000 at
an average price of € 7.98 per share. The purchases were made on the open
market.

'The decision to extend the lock-up period and to purchase additional
shares is a direct reflection of my confidence in the company and its
long-term growth prospects,' said CEO Zuojun Lin.

For further information, please contact:

Asian Bamboo:

Zhao Tong   +852-9011 8258
Head of Investor Relations

Brunswick Group:      

Peter Sjovall   +852-9385 3868
Director, Hong Kong

Hartmut Schumacher  +49-69-24005519
Director, Frankfurt


About Asian Bamboo AG

Asian Bamboo Group is a leading producer of bamboo trees and organic bamboo
shoots in China. Bamboo trees are used in a variety of applications such as
flooring, construction and furniture and bamboo shoots are either sold
fresh or processed as organic food. The vast majority of the Company’s
products are sold in China, however processed bamboo shoots are also
exported to Japan.

The Company signs long-term leases with land owners and currently owns the
rights to 18 bamboo plantations comprising a total acreage of more than
24,700 ha in the Fujian Province, which is one of the main areas for
growing bamboo in the People’s Republic of China.

Asian Bamboo Group’s registered office is located in Hamburg, Germany and
the Company is listed on the Frankfurt Stock Exchange. In the first nine
months of 2007 Asian Bamboo Group generated revenues of €11.7 million and
an adjusted net profit of €6.1 million. As of 30 September 2007, Asian
Bamboo Group had approximately 300 employees.

Further information on Asian Bamboo AG, please visit the Company’s web-site
at: www.asian-bamboo.com


Contact:
BRUNSWICK
Tong Zhao
Phone: 00852-9011 8258
Fax: 00852-2259 9008
tzhao@brunswickgroup.com


DGAP 01.04.2008 
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Language:     English
Issuer:       Asian Bamboo AG
              Stadthausbrücke 1-3
              20355 Hamburg
              Deutschland
Phone:        +49 40 37644 798
Fax:          +49 40 37644 500
E-mail:       cornelia.dieker@asian-bamboo.de
Internet:     www.asian-bamboo.de
ISIN:         DE000A0M6M79
WKN:          A0M6M7
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, München, Stuttgart
End of News                                     DGAP News-Service
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