DGAP-Ad hoc: Bastei Lübbe AG

DGAP-Adhoc: Bastei Lübbe AG: Amended accounting approach in the 2015/2016 consolidated financial statements

Bastei Lübbe AG / Key word(s): Miscellaneous

23.08.2016 10:00

Disclosure of an inside information according to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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Amended accounting approach in the 2015/2016 consolidated financial statements

Cologne, 23 August 2016. At its meeting of 23 August 2016, the Management Board of Bastei Lübbe AG resolved to amend the 2015/2016 consolidated financial statements published on 29 June 2016. This was a necessary step, because the audit firm KPMG has made a reassessment with respect to the relationship with the British Blue Sky Tech Ventures. KPMG has now reassessed the relationship with Blue Sky, which acquired 55 % of the shares in "oolipo AG" (formerly Beam AG) with effect as of 31 March 2015 and 3 % of the shares in "Daedalic Entertainment GmbH" (with an option for a further 5 %) with effect as of 17 September 2015.

KPMG justifies its reassessment on the basis of the complexity of the accounting rules: Due to various rights arising from the purchase agreement between Bastei Lübbe and Blue Sky, Bastei Lübbe AG reportedly has economic control over Blue Sky - namely from the date of the sale of the oolipo shares, i.e. since 31 March 2015. Bastei Lübbe therefore controls Blue Sky according to IFRS 10. KPMG has asked Bastei Lübbe AG to accept this altered perspective and to amend the 2015/2016 consolidated financial statements appropriately. Bastei Lübbe AG will now amend the scope of consolidation of its consolidated financial statements and retroactively fully consolidate Blue Sky and the investments held by Blue Sky.

Bastei Lübbe AG's new financial statements will now be prepared promptly, KPMG will be engaged to audit them and then the Management and Supervisory Boards will endorse them.

Due to the change in the consolidated financial statements, the Annual General Meeting cannot take place as scheduled. The Management Board will cancel the Annual General Meeting called for 15 September 2016 and call a new Annual General Meeting for 30 November 2016 in compliance with legal forms and deadlines.

23.08.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

--------------------------------------------------------------------------- Language: English Company: Bastei Lübbe AG Schanzenstraße 6 - 20 51063 Köln Germany Phone: 02 21 / 82 00 - 0 Fax: 02 21 / 82 00 - 1900 E-mail: investorrelations@luebbe.de Internet: www.luebbe.de ISIN: DE000A1X3YY0, DE000A1K0169 WKN: A1X3YY, A1K016 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange End of Announcement DGAP News-Service ---------------------------------------------------------------------------