BEIJING, May 6, 2013 /PRNewswire/ -- General Steel
Holdings, Inc. ("General Steel" or the "Company") (NYSE: GSI), a
leading non-state-owned steel producer in China, today announced it remains confident to
file its Annual Report on Form 10-K for the fiscal year ended
December 31, 2012, along with 2012
Quarterly Reports on Form 10-Q with the U.S. Securities and
Exchange Commission (the "SEC") on or before June 21, 2013.
Consistent with General Steel's press release on April 3, 2013 and as disclosed in its Form 12b-25
filed on April 2, 2013, the Company's
independent registered public accounting firm is currently
reviewing General Steel's 2012 financial statements. The
Company anticipates filing its 2012 Annual Report on Form 10-K,
along with Quarterly Reports on Form 10-Q for the quarters ended
March 31, 2012, June 30, 2012 and September 30, 2012, with the SEC by June 21, 2013.
John Chen, Chief Financial
Officer of General Steel, stated, "We have proactively communicated
with the SEC and NYSE about our filing plans. I'm pleased with the
notable progress in our auditors' ongoing review of General Steel's
2012 financial results, and we are on schedule with our planned
filing date."
On May 2, 2013, the Company
received a notification from the New York Stock Exchange ("NYSE"),
indicating General Steel is currently not in compliance with the
NYSE's continued listing requirements due to the delay in filing
the Company's 2012 Annual Report by April
16, 2013. Under the NYSE Listed Company Manual and subject
to the NYSE's on-going oversight or review, General Steel has a
six-month period from April 16, 2013
to file its 2012 Annual Report on Form 10-K with the SEC in order
to regain compliance with the NYSE's continued listing
standards.
This notification has no immediate impact on the listing or
trading of General Steel's common stock on the NYSE, and the
Company does not anticipate this matter will materially affect its
customer relationships, the underlying fundamentals and cash flows
of the Company, or its business.
About General Steel Holdings, Inc.
General Steel Holdings, Inc., headquartered in Beijing, China, produces a variety of steel
products including rebar, high-speed wire and spiral-weld pipe. The
Company has operations in China's
Shaanxi and Guangdong provinces, Inner Mongolia Autonomous
Region and Tianjin municipality
with seven million metric tons of crude steel production capacity
under management. For more information, please visit
www.gshi-steel.com.
To be added to the General Steel email list to receive Company
news, or to request a hard copy of the Company's Annual Report on
Form 10-K, please send your request to
generalsteel@asiabridgegroup.com.
Forward-Looking Statements
This press release may contain certain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements are based on management's
current expectations or beliefs about future events and financial,
political and social trends and assumptions it has made based on
information currently available to it. The Company cannot assure
that any expectations, forecasts or assumptions made by management
in preparing these forward-looking statements will prove accurate,
or that any projections will be realized. Actual results could
differ materially from those projected in the forward-looking
statements as a result of inaccurate assumptions or a number of
risks and uncertainties. These risks and uncertainties are set
forth in the Company's filings under the Securities Act of 1933 and
the Securities Exchange Act of 1934 under "Risk Factors" and
elsewhere, and include: (a) those risks and uncertainties related
to general economic conditions in China, including regulatory factors that may
affect such economic conditions; (b) whether the Company is able to
manage its planned growth efficiently and operate profitable
operations, including whether its management will be able to
identify, hire, train, retain, motivate and manage required
personnel or that management will be able to successfully manage
and exploit existing and potential market opportunities; (c)
whether the Company is able to generate sufficient revenues or
obtain financing to sustain and grow its operations; (d) whether
the Company is able to successfully fulfill our primary
requirements for cash; and (e) other risks, including those
disclosed in the Company's Form 10-K, filed with the SEC.
Forward-looking statements contained herein speak only as of
the date of this release. The Company does not undertake any
obligation to update or revise publicly any forward-looking
statements, whether to reflect new information, future events or
otherwise.
Contact Us
General Steel Holdings, Inc.
In China:
Jenny Wang
Tel: +86-10-5775-7691
Email: jenny.wang@gshi-steel.com
In the US:
Joyce Sung
Tel: +1-347-534-1435
Email: joyce.sung@gshi-steel.com
Asia Bridge Capital Limited
Carene Toh
Tel: +1-888-957-3362
Email: generalsteel@asiabridgegroup.com
SOURCE General Steel Holdings, Inc.