The Metallurgical Corporation of China (01618) announced that China Minmetals and its wholly-owned subsidiary, Metallurgical Group, have notified the company that as part of the internal restructuring of China Minmetals Group, the contracting parties signed a "State-Owned Shares Free Transfer Agreement" on December 13, 2024.
According to Zhitong Finance APP news, the Metallurgical Corporation of China (01618) announced that China Minmetals and its wholly-owned subsidiary, Metallurgical Group, have notified the company that as part of the internal restructuring of China Minmetals Group, the contracting parties signed a "State-Owned Shares Free Transfer Agreement" on December 13, 2024. Both parties agree that Metallurgical Group will transfer approximately 9.172 billion A-share shares (accounting for 44.258% of the company's total share capital) that it holds in the company to China Minmetals free of charge. Since Metallurgical Group is a wholly-owned subsidiary of China Minmetals, this free transfer is a free transfer of state-owned shares under the same control, therefore, China Minmetals does not need to pay any consideration to Metallurgical Group.
After the completion of the free transfer, China Minmetals will directly hold approximately 9.172 billion A-share shares in the company (accounting for 44.258% of the company's total share capital), and Metallurgical Group will directly hold approximately 1.019 billion A-share shares in the company (accounting for 4.918% of the company's total share capital). The actual controller of the company has not changed and remains the State-owned Assets Supervision and Administration Commission of the State Council.
