XI'AN, China,, Jan. 22, 2018 /PRNewswire/ -- Future FinTech
Group Inc. (NASDAQ: FTFT - News) ("Future FinTech", "FTFT" or "the
Company"), a financial technology company and integrated producer
of fruit-related products, today announced that it will hold
a Special Meeting of Shareholders (the "Special Meeting") on
March 13, 2018, at 10:00 am China
time / March 12, 2018, at
10:00 pm US Eastern Time, at the
Company's principal executive offices located at 23F, China
Development Bank Tower, No. 2, Gaoxin 1st Road,
Xi'an, Shannxi, China.
The Special Meeting is being held for the following
purposes:
- To approve the spin-off of the Company's wholly-owned
subsidiaries, SkyPeople Foods Holdings Limited (BVI) ("SkyPeople
BVI") and FullMart Holdings Limited (BVI) ("FullMart"), through a
pro rata distribution of the ordinary shares of each of SkyPeople
BVI and FullMart to holders of the Company's common stock at the
close of business on January 22,
2018, the record date (the "Spin-Offs");
- To approve an amendment to the Second Amended and Restated
Articles of Incorporation of Future FinTech, which would increase
the amount of authorized shares of common stock, par value
$0.001 per share, of Future FinTech
from 8,333,333 to 60,000,000;
- To adopt and approve the Future FinTech Group Inc. 2017 Omnibus
Equity Plan;
- To approve the issuance of an aggregate 7,111,599 shares of
Future FinTech's common stock, par value $0.001 per share, pursuant to certain Creditor's
Rights Transfer Agreements between a wholly owned subsidiary of the
Company and sellers of such creditor's rights;
- To approve the issuance of an aggregate 11,362,159 shares of
Future FinTech's common stock, par value $0.001 per share, pursuant to a Share Purchase
Agreement between the Company and a certain investor; and
- To approve a proposal to grant discretionary authority to the
Company's Chief Executive Officer to adjourn the Special Meeting
for the purpose of soliciting additional proxies to approval
Proposals 1 through 5.
A full explanation of the items listed
above and important related information is contained in the
Company's filings of its Notice of Meeting and Proxy Statement with
the Securities and Exchange Commission (the "SEC") and can be accessed at the SEC's
website at www.sec.gov. In
evaluating the proposals to be presented at the Special Meeting, a
shareholder should carefully read the Proxy Statement and
especially consider the factors discussed in the section of the
Proxy Statement entitled "Risk Factors".
Shareholders may attend the special meeting in person or
telephonically by dialing 1-866-395-5819 toll-free within
the United States, 10-400 682 8609
toll-free within China, or
1-706-643-6986 outside the United
States and China (toll
charged). Shareholders attending telephonically should ask for the
"Future FinTech Group Inc. 2018 Special Meeting of Shareholders /
Conference ID 9198969".
A shareholder must complete the proxy card or be present in
person to vote at the meeting. Shareholders that participate in the
meeting via teleconference will be on listen only mode and will not
be able to ask questions or vote their shares using the
teleconference line. If you anticipate participating in the
special meeting via teleconference and have questions, please
provide such questions in advance to the Company's external
investor relations representative at david.rudnick@preceptir.com or
646-694-8538 and the Board will address those questions as appropriate during the meeting.
About Future FinTech Group Inc.
Future FinTech Group Inc. ("Future FinTech", "FTFT" or the
"Company"), is a fintech company that is developing an operational
platform to utilize blockchain technology to participate in the
shared economy, as well as for the distribution, marketing and
sales of various products. The Company's legacy business is the
production and sales of fruit juice concentrates, fruit beverages,
and other fruit related products in China and certain overseas markets, and FTFT
is utilizing fintech solutions to operate and grow this business.
The Company is also developing a regional agricultural products
commodities market with the goal to become a leader in agricultural
finance technology. For more information, please visit
http://www.ftft.top/.
Safe Harbor Statement
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934, as amended, or the
Exchange Act. Forward-looking statements include statements with
respect to our beliefs, plans, objectives, goals, expectations,
anticipations, assumptions, estimates, intentions, and future
performance, and involve known and unknown risks, uncertainties and
other factors, which may be beyond our control, and which may cause
the actual results, performance, capital, ownership or achievements
of the Company to be materially different from future results,
performance or achievements expressed or implied by such
forward-looking statements. All statements other than statements of
historical fact are statements that could be forward-looking
statements. You can identify these forward-looking statements
through our use of words such as "may," "will," "anticipate,"
"assume," "should," "indicate," "would," "believe," "contemplate,"
"expect," "estimate," "continue," "plan," "point to," "project,"
"could," "intend," "target" and other similar words and expressions
of the future.
All written or oral forward-looking statements attributable to
us are expressly qualified in their entirety by this cautionary
notice, including, without limitation, those risks and
uncertainties described in our annual report on Form 10-K for the
year ended December 31, 2016 and
otherwise in our SEC reports and filings, including the proxy
statement for the 2017 annual meeting. Such reports are available
upon request from the Company, or from the Securities and Exchange
Commission, including through the SEC's Internet website at
http://www.sec.gov. We have no obligation and do not undertake to
update, revise or correct any of the forward-looking statements
after the date hereof, or after the respective dates on which any
such statements otherwise are made.
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SOURCE Future FinTech Group Inc.