KINGHERO AG 
By To secure the cash position of KINGHERO AG the management board has concluded arrangements with debtees.
Wiesbaden, December 20, 2013. To secure the cash position of KINGHERO AG the
management board has concluded arrangements with debtees. These arrangements shall secure the financial situation of the company for the time being in order for the company to remain capable of acting.
On the operating level the management board of the German Holding Company has started restructuring measures in the affiliated company KINGHERO Group Holdings Ltd. They concentrate mainly on securing further influence spheres including the affiliated companies Kinghero Fashion (Xiamen) Co. Ltd. and Xiamen Michelle Co. Ltd.
Furthermore the management team of the company is in contact with investors concerning short-term restoration benefits and further restructuring measures. The management board and the supervisory board of KINGHERO AG plan to convene an extraordinary general meeting during the first quarter 2014. If required, the committee may decide on additional measures to ensure the continuity of KINGHERO AG.
Regarding the outstanding consolidated financial statements for the year 2012 the situation is still the following: The management board of KINGHERO AG demanded the management of the operative entities in China several times to present auditable consolidated financial
statements for the financial year 2012. Furthermore, the operative entities were asked to remove the obstacles preventing KINGHERO's auditor for the financial year 2012, Warth & Klein Grant Thornton AG Wirtschaftspru
