OREANDA-NEWS. January 24, 2014. General Steel Holdings, Inc. ("General Steel" or the "Company") (NYSE: GSI), a leading non-state-owned steel producer in China, announced that the New York Stock Exchange, Inc. (the "NYSE") has notified the Company that it has fallen below the NYSE's continued listing standard that requires a minimum average closing price of USD 1.00 per share of the Company's common stock over a 30 consecutive trading day period.

Under the NYSE regulations, the Company has a cure period of six months from receipt of the NYSE's notice to cure the deficiency by regaining compliance with the minimum share price requirement. The Company can regain compliance at any time during the six-month cure period if on the last trading day of any calendar month during the cure period, the Company has a closing share price and an average closing share price of at least USD 1.00 over the 30 trading-day period ending on the last trading day of that month.

The Company responded to the NYSE within the required response period, stating its intent to cure this deficiency. Subject to compliance with the NYSE's other continued listing standards and ongoing oversight, the Company's common stock will continue to be listed and traded on the NYSE during the six-month cure period. The Company's business operations and United States Securities and Exchange Commission reporting requirements are not affected by the receipt of the NYSE's notice. The Company intends to actively monitor the closing price of its common stock during the cure period and will evaluate available options to resolve this deficiency and regain compliance with the applicable NYSE regulations.