Firstextile AG
Firstextile AG does not execute buyback offer
Firstextile AG / Key word(s): Share Buyback 15.06.2015 18:55 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. --------------------------------------------------------------------------- Firstextile AG does not execute buyback offer Frankfurt am Main, June 15, 2015 - Firstextile AG (ISIN DE000A1PG8V8; WKN A1PG8V, Lyoner Straße 14, 60528 Frankfurt am Main) will not execute the buy-back offer to acquire up to 345,000 Firstextile Shares published on February 6, 2015. The Chinese subsidiary of Firstextile AG has not yet met all the legal requirements of transferring the money for the purchase price from the Chinese Group accounts to Germany due to the local restrictions applicable on such payment of dividends to abroad entities. The Management Board emphasizes that Firstextile Group has sufficient funds and that the cancellation is not based on any financial reasons. Pursuant to sec. 2.3 of the offer document the offer will not be executed and the buyback and transfer agreements will not become effective. Accordingly, all shareholders that have issued their acceptance declarations will keep their shares. The Management Board however maintains its general intention to make a buyback offer to its shareholders and puts all efforts in achieving the formal Chinese requirements for the transfer of the according funds as soon as possible. ISIN: DE000A1PG8V8 WKN: A1PG8V Listed: Regulated market (Prime Standard) on Frankfurt Stock Exchange Firstextile AG, Lyoner Straße 14, 60528 Frankfurt am Main 15.06.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Firstextile AG Lyoner Str. 14 60528 Frankfurt am Main Germany Phone: +49 (0) 69 6655 4416 Fax: +49 (0) 69 6655 4418 E-mail: ir@firstextile.de Internet: www.firstextile.de ISIN: DE000A1PG8V8 WKN: A1PG8V Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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