OneConnect Announces that Its Management Intends to Increase Their Shareholdings Demonstrating Confidence in the Prospects for Its Business
August 12 2021 - 6:45AM
Business Wire
OneConnect Financial Technology Co., Ltd. (“OneConnect” or the
“Company”) (NYSE: OCFT), a leading technology-as-a-service platform
for financial institutions in China, today announced that it was
informed by its Chairman and Chief Executive Officer and certain
other members of its management team of their intention to use
their personal funds to purchase up to an aggregate of US$10
million worth of the Company’s ADSs during a three-month period
following today, pursuant and subject to applicable laws and the
Company’s securities trading policy. The proposed management share
purchases may be made from time to time in the open market at
prevailing market prices, in privately negotiated transactions, in
block trades and/or through other legally permissible means,
depending on market conditions and in accordance with applicable
rules and regulations. The management team has agreed to be subject
to lock-up restrictions for a period of at least six months with
respect to the proposed purchased shares. The proposed share
purchase demonstrates the management’s confidence in the
fundamental and long-term growth of the Company. After the
purchase, the interests of the management will be even more closely
aligned with those of the Company’s shareholders.
About OneConnect
OneConnect is a leading technology-as-a-service platform for
financial institutions in China. The Company’s platform provides
cloud-native technology solutions that integrate extensive
financial services industry expertise with market-leading
technology. The Company’s solutions provide technology applications
and technology-enabled business services to financial institutions.
Together they enable the Company’s customers’ digital
transformations, which help them increase revenue, manage risks,
improve efficiency, enhance service quality and reduce costs.
The Company's technology-as-a-service platform strategically
covers multiple verticals in the financial services industry,
including banking, insurance and asset management, across the full
scope of their businesses – from sales and marketing and risk
management to customer services, as well as technology
infrastructure such as data management, program development and
cloud services.
For more information, please visit ir.ocft.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements constitute “forward-looking” statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as “will”, “expects”, “anticipates”,
“future”, “intends”, “plans”, “believes”, “estimates”, “confident”
and similar statements. Such statements are based upon management’s
current expectations and current market and operating conditions
and relate to events that involve known or unknown risks,
uncertainties and other factors, all of which are difficult to
predict and many of which are beyond the Company’s control.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: the
Company’s limited operating history in the technology-as-a-service
for financial institutions industry; its ability to achieve or
sustain profitability; the tightening of laws, regulations or
standards in the financial services industry; the Company’s ability
to comply with the evolving regulatory requirements in the PRC and
other jurisdictions where it operates; its ability to comply with
existing or future laws and regulations related to data protection
or data security; its ability to maintain and enlarge the customer
base or strengthen customer engagement; its ability to maintain its
relationship with Ping An Group, which is its strategic partner,
most important customer and largest supplier; its ability to
compete effectively to serve China’s financial institutions; the
effectiveness of its technologies, its ability to maintain and
improve technology infrastructure and security measures; its
ability to protect its intellectual property and proprietary
rights; risks of defaults by borrowers under the loans for which
the Company provided credit enhancement under its legacy credit
management business; its ability to maintain or expand relationship
with its business partners and the failure of its partners to
perform in accordance with expectations; its ability to protect or
promote its brand and reputation; its ability to timely implement
and deploy its solutions; its ability to obtain additional capital
when desired; litigation and negative publicity surrounding China
-based companies listed in the U.S.; disruptions in the financial
markets and business and economic conditions; the Company’s ability
to pursue and achieve optimal results from acquisition or expansion
opportunities; the duration of the COVID-19 outbreak, including the
emergence of COVID variants, and its potential impact on the
Company’s business and financial performance; and assumptions
underlying or related to any of the foregoing. Further information
regarding these and other risks is included in the Company’s
filings with the SEC. All information provided in this press
release and in the attachments is as of the date of this press
release, and the Company undertakes no obligation to update any
forward-looking statement, except as required under applicable
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210812005433/en/
Investor Relations: Walden Shing waldenshing521@ocft.com
Media Relations: Amy Ding dingjingmin787@ocft.com
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