Ansteel receives Chinese regulatory approvals for proposed Gindalbie Metals acquisition

Ansteel receives Chinese regulatory approvals for proposed Gindalbie Metals acquisition

Gindalbie Metals (ASX: GBG) has received confirmation from Angang Group Hong Kong (“Ansteel”) that the necessary record‐filing notices have been received from the National Development and Reform Commission and the Ministry of Commerce  of the People's Republic of China in respect of the proposed acquisition by Ansteel of all of the ordinary shares in Gindalbie that it does not already own.


Gindalbie Metals (ASX: GBG) has received confirmation from Angang Group Hong Kong (“Ansteel”) that the necessary record‐filing notices have been received from the National Development and Reform Commission and the Ministry of Commerce  of the People's Republic of China in respect of the proposed acquisition by Ansteel of all of the ordinary shares in Gindalbie that it does not already own.

In addition, Ansteel has confirmed to Gindalbie that approval from the State Administration of Foreign Exchange (“SAFE”) of the People's Republic of China for the Transaction is not necessary.

As a result, Gindalbie announces that the "Chinese regulatory approvals" condition under clause 3.1(g) of the Scheme Implementation Agreement has been satisfied.

The Australian Foreign Investment Review Board (“FIRB”) has approved the proposed acquisition by Ansteel of all of the ordinary shares in Gindalbie that it does not already own, as announced by Gindalbie on 24 April 2019.

The Transaction remains subject to a number of conditions, including the approval of Gindalbie shareholders and the approval of the Court.

Gindalbie shareholders who have questions in relation to the Transaction should contact the Gindalbie Shareholder Information Line on 1300 308 375 (for callers within Australia) or +61 8 6314 6314 (for callers outside Australia) between 9.00am and 5.00pm (Perth time) Monday to Friday.

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