Panzhihua Xingang Vanadium Industry Co., Ltd. (hereinafter referred to as "Pangang Vanadium Industry") intends to issue shares to Panzhihua Iron and Steel (Group) Co., Ltd. (hereinafter referred to as "Pangang Group") and its related parties to purchase assets, and at the same time absorb and merge Pangang Group Chongqing Titanium Industry Co., Ltd. (hereinafter referred to as "Panyu Titanium Industry" or "Company") and Pangang Group Sichuan Great Wall Special Steel Co., Ltd. (hereinafter referred to as "Great Wall Shares") by share exchange.
With the approval of China Securities Regulatory Commission (No.1445), this reorganization has entered the implementation stage, and the procedures involved in this reorganization have been completed. On April 24, 2009, the company submitted an application to Shenzhen Stock Exchange for the termination of listing. On April 30, 2009, Shenzhen Stock Exchange approved the company's application with the Decision on Termination of Listing of RMB Common Shares of Chongqing Titanium Industry Co., Ltd. of Panzhihua Iron and Steel Group (ZJK [2009] No.30) (hereinafter referred to as the Decision). The main content of the decision is: "According to the decision in Article 56 of the Securities Law and the provisions in Item (13) of Article 14.3. 1 of the Listing Rules of Shenzhen Stock Exchange, after deliberation and approval by the listing committee of your company, our firm has decided to terminate the listing of RMB ordinary shares of your company as of May 6, 2009".
Date of termination of listing: May 6, 2009.
Therefore, the listing of the company's shares will be terminated on May 6, 2009. The shares held by the company's shareholders have been converted into Panzhihua Steel Vanadium A shares at the ratio of 1: 1.78, and have been listed and traded on Shenzhen Stock Exchange since May 6, 2009.