Wuhan Steel shares Baosteel intends to issue A shares shareholder Wuhan Iron and Steel merger

Wuhan Steel shares today announced that the shareholders of Baosteel intends Wuhan Steel shares issued A shares, merger Wuhan Steel shares.
Wuhan Iron and Steel Co. significant progress in asset restructuring announcement
The Board of Directors and the Directors to ensure that this announcement does not contain any false, misleading statements or material omissions, and severally and jointly accept responsibility for the truthfulness, accuracy and completeness of the contents.
By Wuhan Iron and Steel Co., Ltd. (hereinafter referred to as "Company", "WISCO"), the controlling shareholder of Wuhan Iron and Steel (Group) Company and Baosteel Group Co., Ltd. is planning a strategic restructuring, the company applies the company's stock was in June 2016 27 onwards suspension. After the demonstration and consultation with relevant parties, major issues in this plan constitute the company's major asset restructuring. In order to ensure fair information disclosure, to maintain the interests of investors, to avoid abnormal stock price volatility, the company applies the company's stock suspension not exceeding 30 days from June 27, 2016, and on July 11, 2016 issued a " Wuhan Iron and steel Co., Ltd. a major asset restructuring suspension notice "(bulletin No.: 2016-018). July 27, 2016, the company issued a" major asset restructuring of Wuhan Iron and steel Corporation continued suspension notice "(bulletin No.: 2016-023 ), the company stock since July 27, 2016 to continue the suspension is not expected to more than one month. August 26, 2016, the third meeting of the Seventh Board considered and approved "on the Wuhan Iron and Steel shares continue to suspend a major asset restructuring the motion," and on August 27, 2016 issued a major asset, "Wuhan Iron and Steel Co., Ltd. continue restructuring suspension notice "(bulletin No.: 2016-032), the company stock since August 27, 2016 to continue the suspension is not expected to more than one month. During major asset restructuring suspension, the company respectively in July 16, 2016, July 23, August 3, August 10, August 17, August 24, September 3, September 10 issued a "Wuhan Iron and steel Co., Ltd. a major asset restructuring announcement progress" (announcement No.: 2016-021,2016-022,2016-025,2016-026,2016-027,2016-029,2016-035,2016-036) .
The major asset restructuring plan proposed for the initial transaction Baoshan Iron & Steel Co., Ltd. (hereinafter referred to as "Baosteel") issued A shares to Wuhan Iron and Steel shares of all convertible shareholders, convertible merger Wuhan Steel shares, Baosteel combining party-cum-party subsisting Wuhan Iron and Steel shares of the merged party-cum-party non-existence, is not expected to lead to the final change in corporate control, it will not constitute a backdoor listing. As of this announcement, the relevant parties are still on this major asset reorganization and the plan for further verification and improvement, not yet finalized.
"On regulating the state-owned shareholders of listed companies asset restructuring matters related to notice" (State-owned Development Property [2009] No. 124) and other regulations and after consultation with the relevant departments, the major asset restructuring must obtain state-owned assets, according to State-owned Assets Supervision and Administration Commission supervision and administration departments and other relevant departments of the pre-approval of the views currently trading scheme has not been finalized. The company has been in accordance with the "significant asset restructuring of listed companies management approach" and other relevant regulations, organize relevant agencies to carry out the audit work, legal and financial advisory, due diligence on the results of ongoing discussions and combing, improve the relevant reports and documents, This work is now being actively promoted.
During the suspension period the company will be based on the progress of major asset restructuring, the timely implementation of information disclosure obligations, progress publish every five days once related matters. Upon completion of related work to convene the Board to consider this major asset restructuring program, the timely announcement and resume trading. Given the uncertainty of the matter, please the majority of investors of investment risks.
Special announcement.
Wuhan Iron and Steel Corporation Board of Directors
September 21, 2016



Contact: Baosen Steel

Phone: +86-532-88890950

Tel: +86-532-88890950


Add: No. 61 Haier Road Qingdao China1

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