Weyland Tech Provides Update for Its Spin-Off of Weyland AtoZ Pay – Spin-Off Instructions for Banks/Brokers Delivered, Shareholder Transmittal Letter to be Available Post Record Date
New York – (NewMediaWire) – October 12, 2018 – Weyland Tech Inc. (OTCQX: WEYL) (“Weyland” or the “Company”) announced today, as a reminder to banks/brokers and shareholders, that today is the record date for the spin-off of its Weyland AtoZ Pay subsidiary (“WAI”) and only shareholders of record as of today’s record date will be entitled to receive their pro-rata allocation of WAI spin-off shares.
The relevant dates for the spin-off are as follows:
Record Date: October 12, 2018
Bank/Broker Deadline for Submission of Beneficial Owner Lists: October 26, 2018
Distribution Date: November 30, 2018
If any banks/brokers have not yet received the Company’s spin-off processing instructions through the DTC Important Notice # (9903-18) posted through CA WEB, they can also receive the spin-off processing instructions by making a request by email directly to the Company. The contact details for such requests, and any other inquiries from banks/brokers or shareholders regarding the spin-off, are as follows:
Email: [email protected]
Following the record date, the Company plans to make available in the “Investor” section of its website a “Shareholder Transmittal Letter” which will provide shareholders the opportunity to independently document their position in WEYL common stock, as of the record date, while the Company awaits receipt of the required beneficial owner lists from the bank/brokers.
The Company has been notified by FINRA that it intends to make an announcement regarding the Company’s spin-off on Monday, October 15th.
About Weyland Tech Inc.
Weyland Tech is a global provider of mobile business applications. Its CreateApp platform offers a mobile presence to businesses in emerging markets, with partnerships on 3 continents and growing. This DIY mobile application platform, offered in 14 languages with over 35 integrated modules, enables small and medium sized businesses (“SMB’s”) to create native mobile applications (“apps”) for Apple’s iOS and Google Android without technical knowledge or background, empowering SMB’s to increase sales, reach more customers and promote their products and services in an easy, affordable and efficient manner.
In May 2018, the Company expanded its portfolio to fintech applications with the launch of its AtozPay mobile payments platform. The mobile wallet launched in the worlds 4th most populous country, Indonesia, and is already experiencing rapid growth in transactions taking place on the platform.
Follow Weyland Tech online at:
Weyland Tech Facebook Page (https://www.facebook.com/weylandtech)
Weyland Tech Twitter Feed (https://twitter.com/weylandtechinc)
Weyland Tech LinkedIn Page (https://linkedin.com/company/weylandtech)
Brent Suen, CEO Public Facebook Page (https://www.facebook.com/BrentSuenWEYL)
Brent Suen, CEO Public Twitter Feed (https://www.twitter.com/BrentSuenWEYL)
Safe Harbor Statement
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 continued growth of the e-commerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; 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 (http://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.
For further information contact: [email protected]