DGAP-News: Asian Bamboo leases 2,382 ha of bamboo plantations/Xinrixian Village Development Fund supports the victims of the Qinghai earthquake
(firmenpresse) - Asian Bamboo AG / Contract/Miscellaneous
26.04.2010 00:01
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Asian Bamboo leases 2,382 ha of bamboo plantations
Hamburg, 26 April 2010 - Asian Bamboo AG ('Asian Bamboo', 'the Company',
ISIN: DE000A0M6M79, ticker symbol: '5AB', ADR ticker symbol 'ASIBY'), a
world-leading producer of bamboo trees and organic bamboo shoots, is
pleased to announce that it has signed lease agreements for two bamboo
plantations with a total size of 2,382 hectares (ha).
The plantations, located in Wuyishan in Fujian Province, are being leased
for 20 years and Asian Bamboo will pay a total fee of around EUR 13.9
million (RMB: 128 million), translating into a leasing fee per hectare of
EUR 5,834 (RMB: 53,700). The terms of these leases are similar to those of
previous leases. Around 30% of the lease fee will be paid in Q2 2010 and
the balance when the harvesting rights are transferred later in the year.
The plantations are expected to start generating output in Q1 2011.
Lin Zuojun, CEO and founder of Asian Bamboo, commented: 'Securing new
plantation leases is the foundation of our business model. Including these
plantation leases, we now have a total plantation size of 39,118 ha, of
which 27,943 ha are mature plantations. This means that we are well ahead
of our original plantation leasing schedule and we expect to surpass our
year end target of 40,000 ha in the first half of the year.'
Xinrixian Village Development Fund supports the victims of the Qinghai
earthquake
The Company has made a donation to the victims of the Qinghai earthquake
through the recently launched Village Development Fund. The earthquake,
which measured 7.1 on the Richter scale, has killed and injured thousands
of people.
Mr. Lin Zuojun commented: 'Although we are not operating in Qinghai
province, we felt that it was appropriate for us to make a donation through
our Village Development Fund. With this donation, we are expressing our
support and concern for the victims and their families and also
contributing to the relief work.'
For enquiries, please contact:
Asian Bamboo AG:
Peter Sjovall +852-9385 3868
Chief Financial Officer
Anja Holst +49-(0)40 37644 798
Investor Relations Manager
26.04.2010 00:01 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: Asian Bamboo AG
Stadthausbrücke 1-3
20355 Hamburg
Deutschland
Phone: +49 40 37644 798
Fax: +49 40 37644 500
E-mail: info(at)asian-bamboo.de
Internet: www.asian-bamboo.de
ISIN: DE000A0M6M79, DE000A0M6M79
WKN: A0M6M7, A0M6M7
Listed: Regulierter Markt inFrankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------------
Datum: 26.04.2010 - 00:01 Uhr
Sprache: Deutsch
News-ID 19618
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 214 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Asian Bamboo leases 2,382 ha of bamboo plantations/Xinrixian Village Development Fund supports the victims of the Qinghai earthquake"
steht unter der journalistisch-redaktionellen Verantwortung von
Asian Bamboo AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
