Shenzhen, China, Nov. 22, 2022 (GLOBE NEWSWIRE) — Mercurity Fintech Holding Inc. (the “Company” or “MFH”) (Nasdaq: MFH)a digital fintech group powered by blockchain technology, today announced the voting results of its annual shareholders’ meeting held on Monday, November 21, 2022, Beijing time (the “Meeting”).
Proposals described in the company’s proxy materials were presented to the company’s shareholders (“the Shareholders”) for consideration and approval at the meeting. The proposals approved with the required majority of the votes cast by the Shareholders who attended the meeting by proxy or in person are as follows:
- Election of Shi Qiu, Xiang Qu, Er-Yi Toh, Cong Huang, Keith Tan Jun Jie, Alan Curtis, Daniel Kelly Kennedy, Zheng Cui, Qian Sun and Hui Cheng, to serve on the company’s board, until the next annual general meeting and until their successors are duly elected and qualified.
- Approval of the reverse split of the company’s issued ordinary shares in a ratio of not less than one (1)-to-three hundred sixty (360) and not more than one (1)-to-seven hundred and twenty (720), with the the exact ratio to be set to a whole number within this range to be determined by the company’s board, or a duly constituted committee thereof, at its discretion.
- Suspension of Trading in the Company’s American Depositary Receipts/Shares (“ADRs”), Termination of the Deposit Agreement for the ADRs between the Company, its Depositary Bank, Citibank, NA, and the Holders and Beneficial Owners of the Company’s ADRs, Exchange of ADRs for the corresponding to the ordinary shares in the company, and commencement of trading in the company’s ordinary shares on the Nasdaq stock market upon the effect of the reverse split.
“We are pleased to have held our annual shareholders’ meeting and launched the next chapter of the Mercurity Fintech story with an exceptional group of experienced directors,” said Shi Qiu, CEO of the company. “The election of our committed, appropriate and active board and approval of resolutions will strengthen the company’s ongoing business development as we continue to develop technology while focusing on commercialization and growth.”
About Mercurity Fintech Holding Inc. Limited
Mercurity Fintech Holding Inc. is a digital fintech group powered by blockchain technology. The company’s primary business scope includes digital asset trading, asset digitization, cross-border transfers and other services, providing compliant, professional and highly efficient digital financial services to its clients. The company recently started limiting itself to Bitcoin mining, digital currency investment and trading and other related fields. This shift has enabled the company to deepen its involvement in all aspects of the blockchain industry, from production to circulation.
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and forecasts of future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or expressions such as “may”, “will”, “expect”, “anticipate”, “target”, “estimate”, “intend”, “plan”, “believe” “potential”, “continue”, “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will prove to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.
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