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DJ DGAP-Adhoc: Powerland AG: Publication of Annual Report 2012 delayed

26.03.13 06:44
Dow Jones Newswires

DJ DGAP-Adhoc: Powerland AG: Publication of Annual Report 2012 delayed

Powerland AG / Key word(s): Final Results

26.03.2013 07:44

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.


Powerland AG: Publication of Annual Report 2012 delayed

- Publication of Annual Report 2012 delayed

- Confirmation of Guidance for 2013: dynamic sustainable growth continues

- CFO Kelvin Ho leaves the company

Frankfurt/Main, 26 March 2013 - The single and consolidated financial
statements of Powerland AG as of and for the year ended 31 December 2012
will not be available for publication on 30 April 2013 as previously
envisaged. The auditor of Powerland AG, BDO AG
Wirtschaftsprüfungsgesellschaft, needs more time for the audit than
envisaged beforehand, as additional auditing procedures related to internal
control mechanisms have turned out to be indispensable. Powerland currently
estimates that the auditing work will not be completed before June 30,
2013. Therefore, the Annual General Meeting is likely not to take place
before the end of August 2013.

For the time being, Powerland sees no need to rectify the preliminary
financial figures published on February 28, 2013.

The CFO of Powerland AG, Mr. Kelvin Ho, and Powerland amicably decided that
Mr. Ho is going to leave Powerland with immediate effect. His functions
will be taken over temporarily by the Chief Accounting Officer of
Powerland, Mr. Qingsheng Cai.

For further information, please contact:

Powerland AG
Jiangbin He
Investor Relations Director
Lyoner Strasse 14
60528 Frankfurt am Main
Phone: +49 (0) 69 66 554 - 459
Fax: +49 (0) 69 66 554 - 276

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Language: English
Company: Powerland AG
Lyoner Straße 14
60528 Frankfurt am Main
Phone: +49 69 - 66554-459
Fax: +49 69 - 66554-276
ISIN: DE000PLD5558
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart

End of Announcement DGAP News-Service


(END) Dow Jones Newswires

March 26, 2013 02:44 ET (06:44 GMT)