PERTH, AUSTRALIA: Gindalbie Metals Limited has announces that it has received confirmation from Angang Group Hong Kong (Holdings) Limited (Ansteel) that the necessary record‐filing notices have been received from the National Development and Reform Commission (NDRC) and the Ministry of Commerce (MOFCOM) of the People’s Republic of China in respect of the proposed acquisition by Ansteel of all of the ordinary shares in Gindalbie.
[the_ad id=”32940″]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.
The Transaction remains subject to a number of conditions, including the approval of Gindalbie shareholders and the approval of the Court.