It is reported that on June 29 2012, Xinduo Yu in a private sale transferred 15,000,000 common shares of Yalian Steel Corporation to two third party individuals. Prior to the Transfer,

the Offeror held 29,397,000 common shares representing 30.1% of the issued and outstanding common shares of Yalian. As a result of the Transfer, the Offeror now holds 14,397,000 common shares of Yalian representing 14.7% of the issued and outstanding common shares of Yalian.

The Offeror sold the 15,000,000 common shares of Yalian in a private sale and not on a stock exchange or other market. The Offeror sold the 15,000,000 common shares of Yalian for investment purposes only and may increase or decrease his ownership position in the future.

Source - melodika

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