Asian Bamboo AG announces the completion of a € 25.5 million capital increase as well as the greenshoe and placement of together an additional 500,000 shares by Green Resources
Release of an Ad hoc announcement according to Sec. 15 German Securities Trading Act (WpHG) / Capital Increase
Hamburg, 22 October 2009. With reference to the Company's announcement of 21 October, Asian Bamboo AG (ISIN: DE000A0M6M79; ticker symbol 5AB“, "the Company") is pleased to announce that it has successfully placed 1,275,000 new shares in a private placement at an issue price of EUR 20 per share to institutional investors by way of an accelerated bookbuilding process on 22 October managed by Sal. Oppenheim as Sole Bookrunner and M.M. Warburg as Joint Lead Manager. Due to strong and high quality investor demand substantially exceeding the offered shares, an over-allotment of 191,250 shares (“the greenshoe”) and an additional 308,750 shares (“the placement”) were placed by Green Resource Enterprise Holding Ltd ("Green Resources"), a company wholly owned by Mr. Lin Zuojun - the founder and CEO of Asian Bamboo. Following this increase in capital without subscription rights, the Company has a total of 14,025,000 shares outstanding.
As a result of the placement, Green Resources' shareholding in Asian Bamboo has decreased by 308.750 shares to 6,951,950 shares, which is equivalent to 49.6% of the total number of outstanding shares following the increase in capital and the placement. Following the exercise of the greenshoe, Green Resources’ shareholding will amount to 6,760,700 shares, which is equivalent to 48.2% of the Company. The Company and Green Resources have agreed not to sell any additional shares without the prior consent of Sal. Oppenheim, the Sole Bookrunner, for a period of six months from the closing of this transaction (the soft lock-up period).
As a result of the capital increase, the Company will receive gross proceeds of EUR 25.5 million, which will be used to finance future plantation leases.
Asian Bamboo AG
The Management Board
