Shenyang Coal Trade Group to transfer its 7.35% stake in Hongyang Energy to Liaoning Energy

On the evening of February 10, Liaoning Hongyang Energy Investment Co.Asian Metal Copyright05 million of the transferred shares were restricted stocks.Asian Metal Copyright, Ltd.Asian Metal Copyright The two companies firstly signed the agreement on March 18, 2019.Asian Metal Copyright announced that on February 8, 2020, Shenyang Coal Trade Group and Liaoning Energy Investment Group Co.Asian Metal Copyright The company owns six coal mines, and the verified annual production capacity of coal reaches 9.Asian Metal Copyright, Ltd.Asian Metal Copyright Liaoning holds 97.Asian Metal Copyright re-signed the Share Transfer Agreement.Asian Metal Copyright, Ltd.Asian Metal Copyright The two companies firstly signed the agreement on March 18, 2019.Asian Metal Copyright23 milllion shares of Hongyang Energy to Liaoning energy through a non-public agreement, which was approved by the State-owned Assets Supervision and Administration Commission of Liaoning Province on March 19, 2019.Asian Metal Copyright At that time, Shenyang Coal Trade Group intended to transfer its 97.Asian Metal Copyright However, the transfer of the shares could not be implemented because of the fact that 95.Asian Metal Copyright23 milllion shares of Hongyang Energy to Liaoning energy through a non-public agreement, which was approved by the State-owned Assets Supervision and Administration Commission of Liaoning Province on March 19, 2019.Asian Metal Copyright The company owns six coal mines, and the verified annual production capacity of coal reaches 9.Asian Metal Copyright However, the transfer of the shares could not be implemented because of the fact that 95.Asian Metal Copyright8 million tons.Asian Metal Copyright05 million of the transferred shares were restricted stocks.Asian Metal CopyrightOn the evening of February 10, Liaoning Hongyang Energy Investment Co.Asian Metal Copyright On January 10, 2020, all shares of Hongyang energy held by Shenyang Coal Trade Group have been listed and circulated, and the transfer of shares is qualified for implementation.

Liaoning Hongyang Energy mainly engages in the production and sales of coal and power, urban heating and the supply of industrial steam. The company owns six coal mines, and the verified annual production capacity of coal reaches 9.Asian Metal Copyright61% of the total share capital of the latter.Asian Metal Copyright8 million tons.

After the transfer of shares, Shenyang Coal Trade Group holds 524 million shares of Hongyang Energy, accounting for 39.61% of the total share capital of the latter.Asian Metal Copyright61% of the total share capital of the latter.Asian Metal Copyright Liaoning holds 97.Asian Metal Copyright61% of the total share capital of the latter.Asian Metal Copyright23 million or 7.Asian Metal Copyright After the transfer of shares, Shenyang Coal Trade Group holds 524 million shares of Hongyang Energy, accounting for 39.Asian Metal Copyright35% shares of Hongyang Energy's total share capital, making it the fourth largest shareholder of the latter.
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