Subsequent events

Acquisition of ChermetServis-Snabzhenie

On February 9, 2015, the Group acquired 100% ownership interest in ChermetServis-Snabzhenie specialising on scrap supply to steel plants, which includes not only collection, processing and distribution of ferrous scrap, but also comprehensive procurement services.

Convertible Bonds

The Group fully redeemed its convertible bonds due 2015.