St Granville receives 2.86 billion mining assets today unlimited trading

NetEase Finance November 4 News *st today announced the reorganization plan, the company reorganized the implementation of major asset replacement, was placed into the assets of Beijing Shengda, Red ye investment, Wang Yanfeng, Wang Wei holdings of silver mining 62.96% Equity,　　This part of the equity value of 2.86 billion yuan, the proposed assets of the transaction price of 110 million yuan, replacement assets will be the difference between the *st Granville to the way of a directional additional payment. In this transaction, the difference between the value of the assets placed in the asset is 2.75 billion yuan. According to the issue of the stock price of 7.54 yuan/unit calculation, *st to the number of shares to be issued 360 million shares.　　which respectively to Beijing Shengda, Red ye investment, Wang Yanfeng, Wang Wei issued 230 million shares, 53.63 million shares, 42.91 million shares, 37.586 million shares. After the reorganization, *st's main business will be changed to silver, lead, zinc and other non-ferrous metal development, production, processing and sales, the company's largest shareholder will be changed to Beijing Shengda, the shareholding ratio of 45.64%, the second largest shareholder for Red Ye investment, shareholding ratio of 10.62%.　　Red Ye investment is a wholly-owned subsidiary of China Nonferrous Metals (000758). The reorganization, *ST will put out its own business assets, including the Zhangye Tianma Biological Limited Liability company 100% Equity, Gansu million All Trade Co., Ltd., 100% stake in the great Beishan Provincial Forest Park land use rights. In terms of placement of assets, according to the Bulletin, the assessment report on the assets placed is made under the important assumption that the AG mining industry would be able to obtain a mining right permit of 900,000 tonnes/year and an expansion to 900,000 tonnes/year prior to December 31, 2012.　　If the company fails to obtain a change of mining warrants prior to December 31, 2012 and fails to complete the technical expansion to 900,000 tonnes/year, the trading party undertakes to purchase 62.85 million shares of the above-mentioned difference, which is bought by Invista at a price of 1 yuan and cancelled. Through the deal, *st Wida said, the company sold assets with poorer asset quality and weaker profitability, while acquiring 62.96% per cent of the mining assets. The transaction is advantageous to the listed company to solve the present business predicament, improves the listed company's financial condition. China Nonferrous said that it will take advantage of the advantages of silver mining integration, further expand the size of the company's non-ferrous metal development, and promote the capital operation of the company's resource development business.　　By strengthening the integration of business and management, the operation and benefit level of the project can be improved effectively. St Granville today opened to cover trading, all day trading is not open, a weak deal, the market optimistic reorganization.