12:16 ANGANG NEWSTEEL<00347> - Announcement (2) 1 of Article 60 of the Articles of Association: "If any matter set out in Article 81 is proposed to be considered and approved at the general meeting of the Company, upon giving the notice of such general meeting, the notice of such general meeting shall be re-published within 3 days after the share registration date." 4. The existing Article 68 of the Articles of Association is proposed to be amended and restated in its entirety as follows and the existing Articles 68 and the articles thereafter shall be renumbered accordingly: "Article 68 The board of directors, the independent directors and the eligible shareholders may solicit votes of the shareholders of the Company to be cast at the general meeting. The person soliciting votes from the public shall be carried out in accordance with the relevant implementation rules." 5 Two new Articles are proposed to be inserted before the existing Article 80 of the Articles of Association as follows and the existing Article 80 and the articles thereafter shall be renumbered accordingly: "Article 81 The Company shall establish and enhance the system for public shareholders to vote on major issues. Apart from the approval at the general meeting, any of the following issues or the relevant application in relation to such application proposed to the general meeting shall be only carried out upon approval by the holders of at least half of the shares carrying voting rights cast by the social public shareholders (including the holders of overseas listed foreign investment shares) at the general meeting: (a) Any issue of new shares to the public (including issue of overseas listed foreign investment shares or other share titles), issue of convertible debentures, placing of shares to existing shareholders (except for the actual controlling shareholders has undertaken to fully subscribe for the shares in cash before the general meeting is convened); (b) Major asset restructuring of the Company if the assets proposed to be acquired are being proposed to be acquired at a total price which is 20% higher than the audited book net value of such assets; (c) Repayment of debts due to the Company by any shareholder using such shareholder's shares of the Company; (d) Overseas listing of any significant subsidiaries of the Company; (e) Other relevant issues which may have a substantial impact on the interests of the social public shareholders in the development of the Company. If a general meeting is convened to consider and approve the issues mentioned herein, the announcement of the resolutions of the general meeting shall set out the number of the public shareholders voting at the general meeting, the shares held by them and the percentage in the total number of the shares held by the public shareholders and the results of their votes as well as the shareholding of the 10 largest public shareholders and the result of their votes. If the Company convenes a general meeting to consider and approve the issues mentioned herein, it shall provide the shareholders with a on -line voting platform. Upon the completion of the voting procedure at the general meeting, the Company shall announcement the results after counting all the votes of the votes cast on-site, on-line and through other authorized methods. The service provider for the on-line voting system, the Company and the substantial shareholders shall keep the results of voting confidential before the formal announcement. Article 82 The Company shall duly protect the rights of the public shareholders to elect any director or supervisor. The opinions of the public shareholders shall be well represented in the election of the directors and supervisors at the general meeting by prompting the accumulative voting system. The accumulative voting system referred to herein means that in the election of the directors or supervisors at the general meeting, each share carrying voting right shall carry the same number of voting right as the number of directors or supervisors proposed to be elected and the voting rights of the shareholders may be collectively cast." 6. The existing Article 107(a) of the Articles of Association is proposed to be renumbered as Article 110(a) and amended as follows: