Close

Form 8-K GENERAL STEEL HOLDINGS For: Jul 23

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 4/24/2024

1. TSLA
2. ENPH
3. TXN
4. SPOT
5. BA
6. META
7. V
8. IBM
9. KMB
10. FI


July 27, 2015 12:48 PM EDT

 

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.
     
  By:    /s/ John Chen
  Name:  John Chen
  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

 

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 investor.relations@ gshi-steel.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, 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: [email protected]

 

Asia Bridge Capital Limited

Carene Toh

Tel: +1-888-957-3362

Email: [email protected]

 

 

 

 


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

SEC Filings