Xiamen Eagle Mining Group Co., Ltd. (SHSE:600711) made a proposal to acquire Shenzhen Yuanxinghua Mineral Resources Investment Co., Ltd from Shenzhen Chengtun Group Co., Ltd. for approximately CNY 660 million in stock on January 29, 2012. As per the terms of the deal, 40.112 million shares of Xiamen Eagle Mining will be issued as consideration at CNY 16.48 per share. Within 36 months from the completion of this transaction, Chengtun Group has committed not to sell shares in Xiamen Eagle Mining obtained from this transaction and will not let Xiamen Eagle Mining buy back the said shares and shares from bonus shares and capital accumulation fund shares. In a related transaction, Xiamen Eagle Mining Group Co., Ltd. agreed to acquire 55% stake in Xing'an Aima Mining Co., Ltd. from Liu Quanshu for approximately CNY 810 million in stock on February 27, 2012. Shenzhen Yuanxinghua had total assets of CNY 65.3 billion and total and net loss of CNY 2.7 billion for the year ending December 31, 2011. Xiamen Eagle Mining Group Board approved the proposal on February 27, 2012. The Directorate has decided to hold the shareholders meeting of Xiamen Eagle Mining Group on March 16, 2012 to consider the deal. The shareholders of Xiamen Eagle approved the deal on March 16, 2012. Chengtun Group shareholders approved the transaction. Great Wall Securities Co., Ltd. and Sealand Securities Co., Ltd. (SZSE:000750) acted as financial advisor for Xiamen Eagle Mining. Grandall Lawyer Firm acted as legal advisor for Xiamen Eagle. Beijing Zhongzheng Tiantong Certified Public Accountants acted as accountant for Xiamen Eagle.