Weyland Tech Provides Update Regarding Its Spin-Off of Weyland AtoZ Pay – Beneficial Owner Lists from Various Banks/Brokers Remain Outstanding
New York, Nov. 06, 2018 (NewMediaWire) – Weyland Tech Inc. (OTCQX: WEYL) (“Weyland” or the “Company”) announced today that the Company has not yet received the required beneficial owner lists from 32 banks/brokers, with an aggregate DTC Position in WEYL of approximately 700,000 shares, notwithstanding that the November 2nd deadline for submission of such beneficial owner lists has passed. Of those 32 banks/brokers, 13 have DTC positions of less than 3 shares, which does not entitle those banks/brokers to any spin-off shares. The banks/brokers that have not yet submitted their beneficial owner lists are set forth in the table below.
DTC # Bank/Broker
756 AMERICAN ENTERPRISE INVESTMENT SERVICES INC.
8072 ALPINE SECURITIES CORPORATION
901 BANK OF NEW YORK MELLON
10 BROWN BROTHERS HARRIMAN & CO.
5046 CANACORD GENUITY CORP-CDS
696 CANTOR FITZGERALD & CO.
5099 CDS CLEARING AND DEPOSITORY SERVICES INC.
701 CETERA INVESTMENT SERVICES LLC
5030 CIBC WORLD MARKETS INC-CDS
2170 COMMERCE BANK
5083 CREDENTIAL SECURITIES INC-CDS
873 ELECTRONIC TRANSACTION CLEARING, INC.
8396 HSBC BANK, USA, NA-CLEARING
824 INDUSTRIAL AND COMMERCIAL BANK OF CHINA FINANCIAL SERVICES, LLC
67 INSTINET, LLC
17 INTERACTIVE BROKERS LLC (Interactive Brokers DTC # 534 has been submitted)
750 INTERNATIONAL FCSTONE FINANCIAL INC.
57 EDWARD D. JONES & CO.
1970 JP MORGAN CHASE BANK-EUROCLEAR
512 LEK SECURITIES CORPORATION
2145 MUFG UNION BANK, NA
5008 NATIONAL BANK FINANCIAL INC-CDS
2669 NORTHERN TRUST COMPANY
5084 QUESTRADE INC-CDS
997 STATE STREET BANK AND TRUST COMPANY
2399 STATE STREET BANK AND TRUST COMPANY-DEUTSCHE BANK FRANKFURT
445 STOCKCROSS FINANCIAL SERVICES, INC.
271 TRADESTATION SECURITIES INC.
2622 TEXAS TREASURY SAFEKEEPING TRUST COMPANY
295 VIRTU AMERICAS LLC
595 VISION FINANCIAL MARKETS LLC
8199 WEDBUSH SECURITIES INC-P3
Shareholders who own their shares in “Street Name” through any of the above brokers should contact their broker to determine why they have not submitted their beneficial owner list to the Company to enable the issuance of the spin-off shares to their clients.
As a reminder to shareholders, the Company has made 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 spin-off record date, while the Company is processing the required beneficial owner lists from the banks/brokers. The Company urges all shareholders who hold their shares of WEYL in “Street Name” (i.e., through accounts at banks/brokers) to download the Shareholder Transmittal Letter, complete the requested information, and return the completed and signed letter directly to the Company by email to [email protected]. Please do not mail your completed Shareholder Transmittal Letter to the Company. If you are a registered shareholder who holds shares in certificate or book entry form directly from the Company, you need not complete the Shareholder Transmittal Letter.
If any banks/brokers or shareholders have any questions regarding the spin-off they can direct those inquiries to the contact details below:
Email: [email protected]
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 world’s 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:
American Capital Ventures, Inc.
Email: [email protected]