Ansteel Group to take majority stake in Ling Steel Group

On October 10, the State-owned Assets Supervision and Administration Commission of Chaoyang City signed an agreement for the gratis share transfer of 7% in Ling Steel Group to Ansteel Group Co.Asian Metal Copyright, Ltd.Asian Metal Copyright, Ltd.Asian Metal Copyright This share transfer has been approved by the municipal government but remains subject to approval by State-owned Assets Supervision and Administration Commission of the State Council SASAC.Asian Metal Copyright This share transfer has been approved by the municipal government but remains subject to approval by State-owned Assets Supervision and Administration Commission of the State Council (SASAC).

When completed, Ansteel Group will hold a 56% stake in Ling Steel Group and indirectly hold a 36.97% interest in Lingyuan Iron & Steel Co.Asian Metal Copyright .Asian Metal Copyright, Ltd.Asian Metal Copyright, whose controlling shareholder is still Ling Steel Group, with Ansteel Group becoming the actual controller.Asian Metal Copyright, whose controlling shareholder is still Ling Steel Group, with Ansteel Group becoming the actual controller.

.Asian Metal Copyright When completed, Ansteel Group will hold a 56% stake in Ling Steel Group and indirectly hold a 36Asian Metal Copyright