This announcement is made by Panzhihua New Steel Vanadium Co., Ltd. regarding the cash option exercise procedures for the share swap merger with Pangang Group Chongqing Titanium Industry Co., Ltd. and Pangang Group Sichuan Changcheng Special Steel Co., Ltd. The company and all members of the board guarantee the authenticity, accuracy, and completeness of the announcement content, and bear joint liability for any false records, misleading statements, or significant omissions.
This announcement serves as an explanation of the specific procedures and related matters for shareholders of Pangang Steel Vanadium, Pangang Group Chongqing Titanium Industry, and Sichuan Changcheng Special Steel to declare their cash options and does not constitute a recommendation for exercising cash options. The cash option declaration period is from April 9, 2009, to April 23, 2009. The cash option implementation has entered the declaration period, with four trading days remaining until the declaration deadline on April 23, 2009. The relevant listed companies involved in this merger officially released the "Announcement on the Implementation of Cash Options for the Share Swap Merger" on April 3, 2009.
For detailed information regarding this cash option, investors may refer to the Shenzhen Stock Exchange website (http://www.szse.cn) and the Giant Tide Information Network (http://www.cninfo.com.cn) to review relevant documents. Unless otherwise specified, the interpretations in this advisory announcement are consistent with those in the cash option implementation announcement.