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[Ferro-Alloys.com] 

Sinosteel International announced a few days ago that the company held the first meeting of the ninth board of directors on December 31,2020 to consider and approve the bill on reducing the amount of funds raised by the public offering of convertible corporate bonds. According to the regulatory requirements of China Securities Regulatory Commission ,230 million yuan of new or proposed financial investment will be deducted from the total amount of funds raised within six months before the date of the resolution of the board of directors, and the total amount of investment in the purpose of the raised funds will be adjusted accordingly. Other elements of the publicly available convertible corporate bond programme remain unchanged.

Before adjustment: The total amount of convertible corporate bonds to be issued shall not exceed RMB 1.19 billion yuan (including 1.19 billion yuan), and the specific issue scale shall be determined by the board of directors authorized by the general meeting of shareholders of the company within the above quota.

After adjustment: The total amount of convertible corporate bonds to be issued shall not exceed RMB 960 million yuan (including 960 million yuan), and the specific issue scale shall be determined by the board of directors authorized by the general meeting of shareholders of the company within the above quota.