DGAP-Adhoc: FAST AG resolves capital increase

FAST Casualwear AG / Key word(s): Capital Increase

14.10.2013 19:21

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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FAST AG resolves capital increase

Hamburg, 14 October 2013 - The Management Board of FAST Casualwear, a
manufacturer of casual footwear and apparel in China, decided with the
approval of the Supervisory Board to carry out a capital increase for cash
by EUR 880,000.00 to EUR 12,200,000.00 by issuing 880,000 new shares at a
price of EUR 1.25 and using the authorized capital. The capital increase
will be carried out excluding the right of subscription of the shareholders
and subscribed solely by the major shareholder Mr. Wing Chi Chong. The new
shares shall carry dividend rights for the financial year 2012.

The gross proceeds amounting EUR 1,100,000.00 are to be used to support the
overall working capital and further growth. In particular, in line with
FAST's strategy to expand the distribution network and strengthen the
product development of the own brand FAST.

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Information and Explaination of the Issuer to this News:

About FAST Casualwear AG

FAST Casualwear AG is the German holding company of FAST Group, a Chinese
group of companies engaged in the design, production and sale of
casualwear, consisting of footwear and apparel including accessories. It
mainly designs and produces casualwear under its own brand name 'FAST',
targeting consumers aged between 16 and 35 primarily in the lower tier
cities in China. FAST distributes its own brand products through 26
unaffiliated regional distributors, who sell the products via retail
outlets operated either by themselves or by third party sub-distributors.
Its distribution network consists of 931 retail outlets in over 100 cities
throughout China. FAST also designs and produces footwear as contract
manufacturer for international brand owners, mainly from Europe and the
U.S. FAST's operating facilities are located in the southeast of China in
Jinjiang City, Fujian Province, one of the largest footwear manufacturing
hubs in China. FAST employs around 981 employees.

For further information please visit www.fast-casualwear.com or contact

Kirchhoff Consult AG
Dr. Kay Baden
Tel: +49 (0)40 609 186 39
E-mail: baden@kirchhoff.de

Disclaimer concerning prognoses
This communication contains forward-looking statements. Forward-looking
statements are statements that are not historical facts instead they
reflect FAST Casualwear's current views and expectations and the
assumptions underlying them about future events. Forward-looking statements
are subject to many risks and uncertainties. If any of such risks and
uncertainties materialise or if the assumptions underlying any of FAST
Casualwear's forward-looking statements are proving to be incorrect, FAST
Casualwear's actual results may be materially different from those
expressed or implied by such forward-looking statements. FAST Casualwear
does not intend or assume any obligation to update these forward-looking
statements. Any forward-looking statement speaks only as of the date on
which it is made.

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Language: English
Company: FAST Casualwear AG
c/o Kirchhoff Consult AG, Herrengraben 1
20459 Hamburg
Germany
Phone: 040 60 91 86 0
Fax: 040 60 91 86 60
E-mail: fast@kirchhoff.de
Internet: www.fast-casualwear.com
ISIN: DE000A1PHFG5
WKN: A1PHFG
Listed: Regulierter Markt in Frankfurt (Prime Standard)

End of Announcement DGAP News-Service

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