DGAP-Ad hoc: Snowbird AG

DGAP-Adhoc: Change in the Management Board of Snowbird AG

Snowbird AG / Key word(s): Change of Personnel

12.01.2016 12:49

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.

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Change in the Management Board of Snowbird AG

Based on mutual agreement, Changzai Yan, CEO of Snowbird AG, will leave the Management Board of Snowbird AG for health reasons.

The Supervisory Board thanks Mr. Yan for his achievements and the trustful cooperation and wishes him all the best for the future.

In today's Supervisory Board meeting the members decided unanimously that effective today the CEO position is taken over by Zhaorui Yan, the son of Changzai Yan. Zhaorui Yan is a down expert with more than 15 years of management experience in the Snowbird Group. He also is a representative of Puyang City People's Congress.

The management board of Snowbird AG therefore now consists of Zhaorui Yan and Duoxiang Qiu. Both are supported by the former CFO, Kok Weng Lam (Senior Investor Relations Manager) and Wang Hui (CFO in the operational company in China).

End of adhoc release

Snowbird AG - one of largest down processing companies worldwide Snowbird is one of the world's leading down processors and known for high quality down-filled textiles and for down bedding, down duvets and down pillows. With its new state of the art production facility, located in China, Henan Province, the company is able to process down at highest quality standards in a sustainable and environmental friendly way. Snowbird operates very profitable along the value chain from down processing to down clothing and down bedding production. Products are sold under the brands "Snowbird" or "Xueniao" or produced as white label based on orders from third parties.

Investor Relations Contact Please direct all your requests to: max. Equity Marketing GmbH, Maximilian Fischer, Marienplatz 2, 80331 Munich, Germany Tel: +49 89 139 28890 E-Mail: ir@snowbird-ag.com

IMPORTANT NOTE - Disclaimer This publication constitutes neither an offer to sell nor an invitation to buy securities. The shares in Snowbird AG (the "Shares") may not be offered or sold in the United States or to or for the account or benefit of "U.S. persons" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act")). Furthermore, the shares may not be offered or sold in Japan or to or for the account or benefit of Japanese citizens.

12.01.2016 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: Snowbird AG Ferdinandstr. 25 20095 Hamburg Germany Phone: +49 89 139 28890 Fax: E-mail: ir@snowbird-ag.com Internet: www.snowbird-ag.com/de ISIN: DE000A1PHEL8 WKN: A1PHEL Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of Announcement DGAP News-Service ---------------------------------------------------------------------------