Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(A joint stock limited company incorporated in the People's Republic of China)
(Stock Code: 323) OVERSEAS REGULATORY ANNOUNCEMENT ANNOUNCEMENT ON STOCK-PLEDGED REPO TRANSACTION OF THE CONTROLLING SHAREHOLDERThis announcement is made pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
On 6 December 2016, Maanshan Iron & Steel Company Limited (the "Company") received a Notification Letter issued by the controlling shareholder, Magang (Group) Holding Co., Ltd ("Magang Group"). Details of the Notification Letter are as follows:
In order to diversify financing sources, the board of directors of Magang Group has recently considered and approved the plan of using 800 million shares of Maanshan Iron & Steel Company Limited that it holds for stock-pledged repo transaction. The proposed term of the pledge is not exceeding 3 years and the relevant filing has been made in the information system of management of state-owned shares in listed companies of State-owned Assets Supervision and Administration Commission ("SASAC") of the State Council. Registration procedures with China Securities Depository and Clearing Corporation Limited are intended to be done in December. Filing of the stock pledge has been made in the SASAC of Anhui Province and the Company will be timely informed of the subsequent progress.
Pursuant to relevant laws, regulations and rules, the Company will fulfill the obligation of information disclosure in a timely manner in accordance with the progress of the stock-pledged repo transaction of Magang Group. Investors should be aware of the investment risks.
The Board
Maanshan Iron & Steel Company Limited6 December 2016
Maanshan City, Anhui Province, the PRC
As at the date of this announcement, the directors of the Company include: Executive Directors: Ding Yi, Qian Haifan
Non-executive Directors: Su Shihuai, Ren Tianbao
Independent Non-executive Directors: Qin Tongzhou, Yang Yada, Liu Fangduan
Maanshan Iron & Steel Company Limited published this content on 06 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 06 December 2016 12:15:05 UTC.
Original documenthttp://www.magang.com.hk/download/announcement/1472/eng/E_323.pdf
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