PURCHASE AGREEMENTPurchase Agreement • May 22nd, 2007 • General Steel Holdings Inc • Steel works, blast furnaces & rolling & finishing mills • New York
THIS PURCHASE AGREEMENT (together with all schedules, exhibits and all ancillary agreements contemplated herein are hereinafter referred to as this "Agreement"), is entered into as of the 18th of May, 2007 by and between General Steel Holdings, Inc. ("GSHO"), a Nevada corporation and Victory New Holdings Limited, a British Virgin Islands registered company (the "Selling Owner"). The Selling Owner is the minority owner of Tianjin Daqiuzhuang Metal Sheet Co., Ltd. (the "Daqiuzhuang Metal"), a subsidiary of GSHO. The Daqiuzhuang Metal is the subject of an independent valuation (the "Appraisal") by Tianjin Zhengtai Certified Public Accountants Co., Ltd. The Appraisal is attached as Exhibit A to this Agreement. Hereinafter, GSHO and the Selling Owner are each referred to individually as a "Party" and collectively as "Parties".
