UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): July 23, 2015
General Steel Holdings, Inc.
(Exact name of registrant as specified
in its charter)
Nevada |
|
001-33717 |
|
41-2079252 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification Number) |
Level 21, Tower B, Jia Ming Center
No. 27 Dong San Huan North Road
Chaoyang District, Beijing, China 100020
(Address of
principal executive offices)
Registrant’s telephone number,
including area code:
+ 86 (10) 57757691
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02. Departure
of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
Effective as of July 23, 2015, Zuosheng (Henry) Yu resigned
as Chief Executive Officer of General Steel Holdings, Inc., a Nevada corporation (the “Company”). Mr. Yu will
remain as Chairman of the Board of Directors of the Company (the “Board”). Mr. Yu’s resignation was for personal
reasons and not due to any disagreements with the Company or any of its operations, policies or practices.
As a result of Mr. Yu’s resignations, Yunshan Li was appointed
as Chief Executive Officer of the Company. She will service in such capacity until her successor is duly elected and qualified
or until her earlier resignation or removal by the Board.
Ms. Li, 31, has considerable experience in the chemical and
clean energy industries. Prior to her appointment as Chief Executive Officer of the Company, Ms. Li was the Co-Founder and Chief
Executive Officer of Catalon Chemical Corporation, a manufacturer of De-NOx honeycomb catalysts that are widely used at coal-fired
power plants and steel mills in China to reduce polluting emissions. Previously, Ms. Li served as the Chief Representative for
the University of Southern California Viterbi School of Engineering in China. With her strong inter-cultural and technical background,
Ms. Li has also helped several US-based clean energy companies to successfully launch their operations in China. She received
two Master Degrees in Industrial Engineering and Petroleum Engineering, both from University of Southern California.
There are no family relationships between
Ms. Li and any director or executive officer of the Company, or any person nominated or chosen by the Company to become a director
or executive officer of the Company. Further, there are no related party transactions reportable under Item 5.02(b)(2) of Form
8-K or Item 404(a) of Regulation S-K which relate to the foregoing.
ITEM 8.01. OTHER EVENTS.
On July 23, 2015, the Company issued a press release pertaining
to the matters referenced above. A copy of that press release is furnished as Exhibit 99.1 hereto and incorporated into this Item
8.01 by reference.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits.
Exhibit
No. |
|
Description |
99.1 |
|
Press Release issued on July 23, 2015 |
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.
|
General Steel Holdings, Inc. |
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|
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By: |
/s/ John Chen |
|
Name: |
John Chen |
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Title: |
Chief Financial Officer |
Dated: July 27, 2015
Exhibit 99.1
General Steel Announces the Appointment
New Chief Executive Officer
BEIJING – July 23, 2015 –
General Steel Holdings, Inc. (“General Steel” or the “Company”) (NYSE: GSI), a leading non-state-owned
steel producer in China, today announced the appointment of Ms. Yunshan Li as its Chief Executive Officer effective immediately.
Ms. Li succeeds Mr. Henry Yu, the Company’s former Chief Executive Officer, who will remain to serve as the Chairman
of the Board of Directors of the Company, and continue to work closely with Ms. Li to ensure a seamless transition.
Ms. Li brings considerable experience in
the chemical and clean energy industries. Prior to General Steel, Ms. Li was the Co-Founder and Chief Executive Officer of Catalon
Chemical Corporation, a manufacturer of De-NOx honeycomb catalysts that are widely applied at coal-fired power plants and steel
mills in China to reduce polluting emissions. Previously, Ms. Li served as the Chief Representative for the University of Southern
California (“USC”) Viterbi School of Engineering in China. With her strong inter-cultural and technical background,
Ms. Li had also helped several US-based clean energy companies to successfully launch their operations in China. She received two
Master Degrees in Industrial Engineering and Petroleum Engineering, both from University of Southern California.
“We are thrilled to have Ms. Li join
the executive team and look forward to her stewardship in our continued strategic transformation from an integrated steel producer
into a comprehensive service and product provider in other alternative businesses,” said Henry Yu, Chairman of General
Steel, “The Board and I are confident that Ms. Li’s inter-cultural leadership qualities, deep experience in chemical
and clean technologies, and proven ability to pioneer breakthrough products into new markets make her the ideal choice as General
Steel’s new Chief Executive Officer.”
Ms. Li commented, “I am honored to
have the opportunity to join General Steel and help transform the Company into new markets and business models. I hope to inject
fresh perspectives to not only improve the Company’s existing operations and objectives but also use the Company’s
considerable resources to springboard into other businesses and acquire new strategic opportunities. I look forward to working
with Henry, the Board and the rest of the leadership team in guiding General Steel into a new era.”
About General Steel
General Steel Holdings, Inc. is a leading
non-state-owned steel maker headquartered in Beijing, China. With seven million metric tons of crude steel production capacity
under management and operations in Tianjin municipality and China’s Shaanxi and Guangdong provinces, the Company produces
a variety of steel products including rebar and high-speed wire.
In addition to its steel business, the
Company also designs, manufactures, and integrates radio frequency identification (“RFID”) systems. The Company’s
RFID technology provides real-time data on supplies, inventory, and goods, thereby greatly enhancing its customers’ administration
and planning processes, as well as, asset tracking and supply chain management.
General Steel Holdings, Inc.
Page 2 of 2
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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, including those disclosed in
the Company's most recent Annual Report on Form 10-K, filed with the United States Securities and Exchange Commission. 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.
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
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