Sinosteel New Materials: Sinosteel Capital becomes controlling shareholder
2020-09-03 11:51:40 [Print]
Sinosteel New Materials Co., Ltd. announced on September 1 that the company released an indicative announcement for the change of shareholders' equities on December 28, 2019. The announcement said that China Sinosteel Co., Ltd., the controlling shareholder of Sinosteel New Materials, planned to transfer 123,345,380 shares of Sinosteel New Materials in its hand for free to its wholly-owned subsidiary Sinosteel Capital Holding Co., Ltd.
On September 1, 2020, Sinosteel New Materials received "The Notice for Completion of Free Transfer for Shares of Sinosteel New Materials" issued by the controlling shareholder and confirmed the completion of the abovementioned free transfer. After this transfer, Sinosteel Capital directly holds 123,345,380 shares of Sinosteel New Materials, accounting for 21.44% of equity and becoming the new controlling shareholder of Sinosteel New Materials. The actual controller of the company didn't change and is still State-owned Assets Supervision and Administration Commission of the State Council.
On September 1, 2020, Sinosteel New Materials received "The Notice for Completion of Free Transfer for Shares of Sinosteel New Materials" issued by the controlling shareholder and confirmed the completion of the abovementioned free transfer. After this transfer, Sinosteel Capital directly holds 123,345,380 shares of Sinosteel New Materials, accounting for 21.44% of equity and becoming the new controlling shareholder of Sinosteel New Materials. The actual controller of the company didn't change and is still State-owned Assets Supervision and Administration Commission of the State Council.
