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Smelter Steel's put right was wrongly exercised and shareholders lost 200000 yuan

http://www.sina.com.cn 08:20, March 9, 2007 Daily Economic News

from Daye Special Steel The exercise period of 167.04 million put rights distributed by Donghu Beixin Smelting Steel Co., Ltd., a major shareholder, ended yesterday. A total of 38060 put rights held by 30 shareholders chose to exercise. Based on the closing price of 9.22 yuan of Daye Special Steel yesterday, the exercise loss reached 206300 yuan.

The put right distributed this time by Xinye Steel is different from the put warrant, and it is not listed for trading. It can only be exercised during the exercise period, that is, one Daye Special Steel share is sold to Xinye Steel at a price of 3.80 yuan per share. During the exercise of the put right, Daye Special Steel issued several announcements to advise investors not to exercise the right. In order to prevent the wrong exercise, it also improved the specific operation mode of the put right exercise. Investors cannot directly exercise the right through the securities trading system. If investors need to exercise their rights, they can contact Xinye Steel directly, and the investors can decide whether to exercise their rights after Xinye Steel fully reveals the risks to investors. At the end of the exercise period, Xinye Steel will collect all the exercise instructions and report to Shenzhen Stock Exchange to go through the exercise procedures. NBD


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