Last week can be described as the minority shareholders of Shougang But Cautious According to the disclosure of the Shougang shares, the company's restructuring plan was rejected, but the related party transactions motion was passed last Friday.
Yesterday, a small shareholder representatives told reporters that Shougang shares issued Prior to the restructuring plan, most people can not accept the content is moved to the steel is as good assets placed, as long as the existence of related party transactions, for the relocation of steel results support, Shougang can justifiably continue to be moved to steel as the subject of asset replacement is written to the new restructuring plan.
The minority shareholders further explained to the reporters, the reason why everyone is raring to veto related party transactions motion, because of Beijing Shougang Company Limited on the motion re-signed daily associated with the transaction agreement and the 2012 annual amount of related party transactions is expected to proposed, is expected in 2012, Shougang's businesses and to move the steel related party transactions amounted to approximately 10.677 billion yuan, an increase of 11.45% from 2011. Minority shareholders that the results will only cut off the related party transactions of pipelines, relocation of steel plummeted, it is difficult to flicker into a high-quality assets placed in Shougang shares.
Reporters in a minority shareholders complaint letters submitted to the regulatory authorities have also seen some small shareholders that Shougang shares in the reorganization process, the Shougang Corporation is suspected of using the related party transactions to be placed into the object to move the steel conveyor profit, man-made Qiangang performance. According to reports, to move steel products to the main sheet, and profitability by some industry insiders believe to be inferior to the wire.
And because there are a large number of related party transactions between the relocated Steel and Shougang's Beijing Shunyi Cold Rolled, transaction volume or share of total operating income of Qiangang refrain, but as to move the steel downstream industries, Shunyi Cold Rolled years of losses. Thus, Qiangang has been accused of listed companies in its transfer of benefits.
In addition, the complaint letters also said, Qiangang largest supplier for the Shougang Mining Company, the fourth of China Shougang International Trade and Engineering Corporation, to move the steel 2011 years using the ore from the two companies. The three companies belonging to the Shougang Corporation's transaction involved related party transactions.
A small shareholders of Shougang excitedly told reporters, Shougang Corporation is likely to manipulate the subordinate enterprises to move the steel company signed black-box "agreement price", using upstream related party transactions are deliberately low-cost sales of ore raw materials transportation "profits" for the relocation of steel, In order to achieve the end of 2010, promised to "Shougang shares in the reorganization to inject assets Return on net assets of not less than 2011 listed companies in 2010 operating state level.
Shougang shares for the minority shareholders of the accused, told reporters: Shougang shares is not the existence of irregularities, illegal acts, at the same time, the company certainly will as soon as possible to develop new restructuring plan, but the specific content is not yet finalized. "But you can sure, Shougang shares in the future reorganization of the road will not be smooth.
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