Jiangsu Yulong Steel Pipe plans to acquire 100% stake in Barto Gold Mining Pty Ltd from Barto Australia Pty Ltd.

SMM News: the basic situation of this major asset restructuring

Recently, the company signed a "acquisition intention Agreement" with Barto Australia Pty Ltd, and the company intends to acquire its 100% stake in Barto Gold Mining Pty Ltd in cash.

The above matters have been examined and approved at the eighth meeting of the Fifth Board of Directors of the company, and this transaction does not constitute a related party transaction. According to preliminary estimates, this transaction may constitute the "measures for the Management of Major Asset restructuring of listed companies" Major asset restructuring as stipulated. In accordance with the relevant regulations of the Shanghai Stock Exchange and the China Securities Regulatory Commission, the company will employ independent financial advisers, legal advisers, audit institutions, evaluation institutions and other relevant intermediary agencies to carry out related work.

At the stage of formal agreement signed by the parties to the transaction, the company will submit matters related to major asset restructuring to the board of directors and shareholders' general meeting for consideration in accordance with relevant laws, regulations and articles of association.

The basic information of the counterparty in the transaction

Basic information

Name: Barto Australia Pty Ltd

Place of registration: Level 35066 Kings Park Road, West Perth, AUSTRALIA

Total issued shares: 206185567 (shares)

Establishment date: December 8, 2011

Scope: gold exploration and mining

The basic information of the subject matter of the transaction

Basic information

Name: Barto Gold Mining Pty Ltd

Total issued shares: 100 (shares)

Registered address: Level 35066 Kings Park Road, West Perth, AUSTRALIA

Establishment date: December 7, 2012

Scope: gold exploration and mining

The target company is a company registered in Australia that produces and operates gold mining projects in Western Australia. Its core business is gold mining and processing.

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