Breaking #Fintech #Stock
News: Weyland Tech (OTCQX: $WEYL; $WEYLD) Reverse Splits Stock to Meet Nasdaq
Listing Requirements
NEW
YORK - February 27, 2020 (Investorideas.com Newswire) Weyland Tech, Inc. (OTCQX: WEYL),
a leading global provider of mCommerce platform-as-a-service (PaaS), eCommerce
managed services and fintech solutions, has implemented a 1-for-13 reverse
split of its common stock to be effective prior to the opening of the market
tomorrow, February 27, 2020.
Read this news
featuring Weyland in full at https://www.investorideas.com/CO/WEYL/news/2020/02272ReverseSplitsStock-Nasdaq.asp
The
stock will begin trading on a post-split basis under the symbol, WEYLD, for 20
business days, after which it will return to trading under the symbol, WEYL. If
the stock is listed on The Nasdaq Capital Market prior to the completion of the
20 business day period, the symbol may revert back to WEYL at that time.
"We expect that this reverse split will allow our stock price to meet the
listing requirements for The Nasdaq Capital Market," said Weyland Tech
CEO, Brent Suen. "We believe the Nasdaq listing will provide our investors
with better trade execution and liquidity, as well as increase our visibility
with retail and institutional investors."
"We
know for our existing shareholders it has been a long road through this process
and filled with great expectations," added Suen. "So, we would like
to express our deepest appreciation for their patience and support as we
execute this reverse split in preparation for Nasdaq."
The
stockholders of Weyland Tech approved the reverse stock split on November 15,
2019, and the board of directors subsequently approved the implementation of
the reverse stock split at the ratio of 1-for-13.
As a
result of the split, every 13 shares of issued and outstanding common stock
will be exchanged for one share of common stock. No fractional shares will be
issued as a result of the reverse stock split. A holder of record of common
stock on the effective date of the reverse stock split who would otherwise be
entitled to a fraction of a share will be rounded up to the next whole share.
Each
stockholder's percentage ownership interest in Weyland Tech and proportional
voting power will remain unchanged, and the rights and privileges as the
holders of the common stock will be unaffected.
The
reverse stock split will not change the total number of shares of common stock
or preferred stock authorized for issuance by the company. Additionally, the
par value of the company's common stock will remain at $0.0001 per share.
Shareholders holding share certificates will receive information from Weyland
Tech's transfer agent, Nevada Agency and Transfer Company, regarding the
process for exchanging their shares of common stock. Shareholders with
questions may contact the transfer agent at +1 (775) 322-0626.
Additional
information regarding the reverse stock split is available in the definitive
proxy statement filed by Weyland Tech with the U.S. Securities and Exchange
Commission on October 21, 2019. The definitive proxy statement is available at
the Investors page of the company website at www.weyland-tech.com and the SEC website.
Before
the listing of the common stock on The Nasdaq Capital Market can occur, Nasdaq
will need to approve the company's application for listing. There can be no
assurance the application will be approved.
About Weyland Tech
Weyland
Tech is a developer and global provider of mobile business software
applications. The company operates its CreateApp™ platform-as-a-service (PaaS)
across three continents and 10 countries, including some of the fastest-growing
emerging markets in Southeast Asia. The platform provides a mobile presence for
small-and-medium sized businesses (SMBs) that is supported locally by
distributor partnerships.
Offered
in 14 languages with more than 70 integrated modules, CreateApp enables SMBs to
create and deploy native mobile applications for Apple iOS and Google Android
without technical knowledge or background. The technology empowers SMBs to
increase sales, reach more customers, manage logistics, and promote their
products and services in an easy, affordable and highly efficient way. For more
information, visit weyland-tech.com.
About Push Interactive
The
e-Commerce platform of Weyland's Push Interactive subsidiary features
comprehensive customer acquisition capabilities, highly productive media and
channel strategies, well-tuned product promotion and messaging, and sales
funnel development and optimization. The direct-to-consumer platform provides
an end-to-end solution for SMBs and major brands, allowing these organizations
to dramatically increase online revenue while lowering the cost of customer
acquisition and order fulfillment. Post-sale, Push supports fulfillment,
customer relationship management, and further monetization through
re-engagement and remarketing toolsets that enhance customer lifetime value
(LTV). For more information about Push Interactive, visit www.pushint.com.
Important
Cautions Regarding Forward-Looking Statements
This release contains certain "forward-looking statements" relating
to the business of the Company. All statements, other than statements of
historical fact included herein are "forward-looking statements"
including statements regarding: the Company may not meet applicable Nasdaq
Capital Market requirements necessary for listing and/or Nasdaq may not approve
the Company's listing application; the ability of the Company to successfully
execute its business plan; the business strategy, plans, and objectives of the
Company; and any other statements of non-historical information. These
forward-looking statements are often identified by the use of forward-looking
terminology such as "believes," "expects" or similar
expressions and involve known and unknown risks and uncertainties. Although the
Company believes that the expectations reflected in these forward-looking
statements are reasonable, they do involve assumptions, risks, and
uncertainties, and these expectations may prove to be incorrect. Investors
should not place undue reliance on these forward-looking statements, which
speak only as of the date of this news release. The Company's actual results
could differ materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including those discussed in
the Company's periodic reports that are filed with the Securities and Exchange
Commission and available on its website (www.sec.gov). All forward-looking
statements attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by these factors. Other than as required
under the securities laws, the Company does not assume any duty to update these
forward-looking statements.
Company Contact
Brent
Suen, CEO
Weyland Tech Inc.
Weyland Tech Inc.
Media & Investor Contact
Ronald
Both or Grant Stude
CMA
Tel (949) 432-7566
CMA
Tel (949) 432-7566
Weyland Tech
(OTCQB:WEYL) is a featured fintech stock on
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