DGAP-News: Ming Le Sports AG / Key word(s): AGM/EGM/Share Buyback Ming Le Sports AG: AGM authorizes share buy back program 25.06.2013 / 10:07 --------------------------------------------------------------------- Ming Le Sports AG: AGM authorizes share buy back program Frankfurt, 25 June 2013 - At the Annual General Meeting (AGM) of Ming Le Sports AG, which took place yesterday in Frankfurt, the shareholders authorized a share buy back program of up to 10 per cent of the total share capital. On the basis of this resolution the Management Board intends to initiate a share buy back program with a volume of approximately 6.0 million Euros, representing around 10 per cent of the company's net profit in 2012. During the AGM the Management Board also confirmed the intention to distribute a cash dividend in the future: For the financial year 2013 the company plans to pay a cash dividend of around 10 per cent of the net profit, depending on the earnings 2013 and the capital requirements. Furthermore a new Supervisory Board member was elected at the AGM. Frank Fiebrandt (52) replaces Kong Seng YONG who resigned the Supervisory Board due to personal reasons. Frank Fiebrandt disposes of a vast business experience in Asia and has spent most of his career working in Japan and China. Currently he is Managing Director of VE Engineers (Suzhou) Co. Ltd., a company in Suzhou, China. He studied economic geography at the University of Hannover, Germany. About Ming Le Sports AG Ming Le Sports AG is a rapidly growing branded sportswear company in China targeting 16 to 35-year-old men and women who lead an urban, vibrant and active lifestyle. Ming Le's products include footwear, apparel, accessories and equipment. The company strives to offer comfortable, fashionable and affordable lifestyle and leisure sportswear. Ming Le designs its own products and manufactures them at Ming Le's facilities or through contract manufacturers. Ming Le markets and sells its products through a network of 26 distributors with over 3,900 retail outlets in China. At present, Ming Le has 1,348 employees. For further information, please contact: Kirchhoff Consult AG Dr. Kay Baden Tel: +49(0) 40 609 186 39 Mail: [email protected] Or visit http://www.mingle-sportswear.com End of Corporate News --------------------------------------------------------------------- 25.06.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's 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: Ming Le Sports AG Westhafenplatz 1 60327 Frankfurt am Main Germany Internet: www.mingle.cn ISIN: DE000A1MBEG8 WKN: A1MBEG Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf End of News DGAP News-Service --------------------------------------------------------------------- 217917 25.06.2013