Asian Bamboo AG / Key word(s): Contract/Sustainability
19.10.2011 07:25
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Hamburg, 19 October 2011 - Asian Bamboo AG ('Asian Bamboo ', the 'Company',
ISIN: DE000A0M6M79, ticker symbol '5AB', ADR trading symbol 'ASIBY'), a
leading integrated company in the bamboo industry, is pleased to announce
that it has entered into the following loan agreement with PROPARCO, the
French development finance institution:
Amount: Up to EUR 20 million
Term: 7 years
Interest rate: Euribor + 2.5%
Options: PROPARCO receives 143,900 options in Asian Bamboo with an
exercise
price of EUR 26.34
Other terms: Environmental and Social Action Plan ('ESAP)
The option price was calculated as a 20% premium to the average share price
over the period 1 June 2011 to 31 August 2011. The earliest and latest
exercise dates of the options are three and seven years, respectively, from
the date of signing the loan agreement. If the options are exercised, they
will be converted against the Company's treasury shares.
In line with PROPARCO's common practice when entering into a long-term
relationship, the two parties have developed an environmental and social
action plan ('ESAP') which will further align Asian Bamboo's operations
with international best practice in terms of environmental and social
responsibilities.
About PROPARCO
PROPARCO is a Development Financial Institution jointly held by Agence
Française de Développement (AFD) and public and private shareholders from
the North and South. PROPARCO's mission is to be a catalyst for private
investment in developing countries which targets growth, sustainable
development and reaching the Millennium Development Goals (MDGs). Its
sectoral strategy is tailored to the level of a country's development and
focuses on the productive sector, financial systems, infrastructure and
equity investment. PROPARCO ï¬nances investments that are economically
viable, socially equitable, environmentally sustainable and ï¬nancially
proï¬table. PROPARCO is one of the main bilateral development finance
institutions in the world. It invests on four continents encompassing the
major emerging countries and the poorest countries, particularly in Africa,
and has a high level of requirements in terms of social and environmental
responsibility. PROPARCO has a wide range of financial instruments to meet
the specific needs of private investors in developing countries.
About Asian Bamboo AG:
Asian Bamboo is a leading integrated company in the bamboo industry. The
Company currently owns long-term leasing rights for 43 bamboo plantations
with a total size of 54,511 hectares (ha). In the longer term, Asian Bamboo
expects to reach a total plantation size of more than 100,000 ha. In March
2011, the Company began producing Acetified Dissolving Bamboo Pulp
('ADBP'), which is a raw material primarily used for textile production.
Asian Bamboo expects to reach an annual production capacity of 100,000
tonnes of ADBP in the future.
As a National Key Flagship Enterprise, Asian Bamboo is at the forefront of
developing the agriculture industry in China, which helps to raise farmers'
incomes and increase output. As part of its corporate and social
responsibilities, the Company launched the 'Xinrixian Village Development
Fund' to financially support projects in the regions where the Company
operates with the aim of improving living conditions and quality of life
for farmers.
Asian Bamboo has obtained organic food accreditations in China, Japan,
Europe and the United States in addition to its HACCP and ISO9001
certifications. Its plantation management has received GLOBALGAP (Global
Good Agriculture Practices) certification by the Swiss based company SGS.
Since 16 November 2007, Asian Bamboo is listed on the Prime Standard of the
Frankfurt Stock Exchange under the ticker symbol '5AB'. In addition, the
stock is traded as an ADR under the ticker symbol 'ASIBY'. The Company's
financial statements are audited by Deloitte and its registered office is
located in Hamburg, Germany.
For more information about Asian Bamboo, please visit our website at
www.asian-bamboo.com or www.asian-bamboo.de
Asian Bamboo AG:
Peter Sjovall +852-9385 3868
Chief Financial Officer peter.sjovall@asian-bamboo.com
Anja Holst +49-(0)40 37644 798
Investor Relations Director anja.holst@asian-bamboo.com
PROPARCO:
Benjamin Neumann + 33 1 53 44 31 66
Head of Communication neumannb@proparco.fr
19.10.2011 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: Asian Bamboo AG
Stadthausbrücke 1-3
20355 Hamburg
Germany
Phone: +49 40 37644 798
Fax: +49 40 37644 500
E-mail: info@asian-bamboo.de
Internet: www.asian-bamboo.de
ISIN: DE000A0M6M79, DE000A0M6M79
WKN: A0M6M7, A0M6M7
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: Asian Bamboo and PROPARCO enter into a loan agreement
| Source: EQS Group AG