OREANDA-NEWS. June 25, 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 (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 USD1.00 per share over a 30 consecutive trading day period.

Pursuant to the NYSE's notification, the Company has a cure period of three months from receipt of the notification, or to September 15, 2014, to cure the deficiency by regaining compliance with the minimum share price criteria. The Company can regain compliance on an accelerated basis if its common stock has a USD 1.00 share price on the last trading day of any calendar month within the cure period and the average share price over the 30 trading days preceding the end of that month is also USD 1.00.

Under NYSE rules, the Company has 10 business days from the receipt of the NYSE's notification to submit its intent to cure this deficiency and a plan to the NYSE clearly outlining any strategic or operational initiatives it intends to complete in order to increase its share price, as well as the Company's first quarter 2014 update. The Company intends to submit such plan and update and will notify the NYSE that it intends to cure the deficiency within the prescribed timeframe.

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 three-month cure period, but will continue to be assigned a ".BC" indicator by the NYSE to signify that the Company is not currently in compliance with the NYSE's continued listing standards. The Company's business operations and United States Securities and Exchange Commission reporting requirements are not affected by the receipt of the NYSE's notification. 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 rules.