Shanghai Building Material (Group) will control the shares of Yaopi Glass

(China Glass Network) Shanghai Yaohua Pilkington Glass Co., Ltd (Yaopi Glass (600819)) announced last night, and said Shanghai Yaohua Pilkington Glass Co., Ltd (short for Yaopi Glass) will transfer its all shares without fee to Shanghai Building Material (Group)

Yaopi Glass said, this behaves of the largest share-Shanghai Building Material is for adjusting the asset structure, optimizing the resource distribution and maximum protecting the national asset with. Currently Shanghai Building Material (Group) has signed the stock transformation agreement with Yaohua Factory, and Yaohua Factory will transfer its 16.14% shares without fee to Shanghai Building Material Group.
After the transformation, Shanghai Building Material Group will hold 26.33% shares of Yaopi Glass, and become the first largest stockholder of this company. Yaohua Factory will no longer hold the shares of Yaopi Glass.