Bengang Steel Plates updates on ongoing major asset swap

Bengang Steel Plates Co., Ltd. has issued a progress announcement regarding its proposed major asset swap and connected transaction. The transaction plan, including the scope of assets and pricing, remains under discussion and is not yet finalized. The company will hold another board meeting for deliberation once these matters are determined.

The proposed transaction involves Bengang Steel Plates acquiring 100% equity in Benxi Iron and Steel (Group) Mining Co., Ltd. from Benxi Iron and Steel (Group) Co., Ltd. Simultaneously, the company plans to divest all its assets and liabilities, excluding retained assets and liabilities. Any difference between the acquired and divested assets will be settled in cash.

The company reiterates that the transaction plan and its compliance require further discussion. There is a possibility of adjustments, suspension, or cancellation of the transaction. Investors are advised to exercise caution due to the inherent uncertainties.