8i Enterprises Acquisition Corp. Announces that Its Intended Merger Target – Diginex Hires Chi-Won Yoon as Asia Chairman
April 02 2020 - 7:30AM
8i Enterprises Acquisition Corp. (NASDAQ: JFKKU, JFK, JFKKW, JFKKR)
(“JFK” or the “Company”), a special purpose acquisition company,
today announced that Diginex, a digital asset financial services
and advisory company with which JFK entered into a definitive share
exchange agreement dated July 9, 2019, has hired Mr. Chi-Won Yoon
as Chairman of Asia. Based in Hong Kong, Mr. Yoon will work closely
with Diginex business heads to bring its digital asset financial
services and blockchain solutions to partners and investors
throughout Asia.
Mr. Yoon has more than three decades of
experience in financial services, with a career that has spanned
investment banking, wealth management and asset management. Mr.
Yoon’s most recent role prior to Diginex was Vice Chairman of UBS
Wealth Management, responsible for developing and enhancing
long-term strategic relationships. Mr. Yoon announced his
retirement from UBS last year, after 22 years with the firm. During
his tenure with UBS, Mr. Yoon served as President and CEO of UBS
AG, Asia Pacific, and a member of the UBS Group Executive Board
from 2009 to 2015. In this capacity, he oversaw the firm’s
operations in 13 countries around the region and was responsible
for UBS's three main divisions: Investment Banking, Wealth
Management and Global Asset Management. Mr. Yoon joined UBS in 1997
and established the equity derivatives business in Asia. He then
held various positions in the investment bank including Head of
Equities and Head of Securities Asia Pacific. He also served as the
Hong Kong Country Head.
Prior to joining UBS, Mr. Yoon worked at Lehman
Brothers in New York and Hong Kong and, before that, at Merrill
Lynch in New York. Mr. Yoon holds a bachelor’s degree in electrical
engineering from M.I.T. and a master’s degree in finance from
M.I.T.’s Sloan School of Management.
About Diginex
Diginex is a blockchain financial services and
technology company. Diginex partners with institutional investors,
corporations and governments to make digital assets more
accessible, business processes more efficient and secure. Diginex
believes its collaborative approach and pursuit of global
cooperation is optimal to drive institutional adoption of
blockchain technologies and the regulated use of digital assets.
For more information on Diginex, please visit www.diginex.com.
About 8i Enterprises Acquisition
Corp.
8i Enterprises Acquisition Corp. is a British
Virgin Islands company incorporated as a blank check company for
the purpose of entering into a merger, share exchange, asset
acquisition, share purchase, recapitalization, reorganization or
similar business combination with one or more businesses or
entities. The Company's efforts to identify a prospective target
business will not be limited to a particular industry or geographic
region, although the Company intends to focus on targets located in
Asia.
Disclaimer
8i Enterprises Acquisition Corp, a British
Virgin Islands business company (“JFK”), Diginex Limited, a
Singapore public company limited by shares (“Singapore NewCo”),
DIGITAL INNOVATIVE LIMITED, a British Virgin Islands business
company (“BVI NewCo”), and Diginex Limited, a Hong Kong company
(“Diginex”), and their respective directors, executive officers and
employees and other persons may be deemed to be participants in the
solicitation of proxies from the holders of JFK ordinary shares in
respect of the proposed transaction among such persons (the
“Business Combination”). Information about JFK’s directors and
executive officers and their ownership of JFK’s ordinary shares is
set forth in the Registration Statement on Form F-4 jointly filed
by Singapore NewCo and JFK pertaining to the Business Combination
(the “Form F-4”). This document can be obtained free of charge from
the sources indicated below.
The Form F-4 contains a proxy
statement/prospectus for JFK’s shareholders (the “Definitive Proxy
Statement”). JFK has mailed the Definitive Proxy Statement and a
proxy card to each shareholder entitled to vote at the meeting
relating to the approval of the Business Combination and other
proposals set forth in the Definitive Proxy Statement. INVESTORS
AND SECURITY HOLDERS OF JFK ARE URGED TO READ THESE MATERIALS
(INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER
RELEVANT DOCUMENTS IN CONNECTION WITH THE BUSINESS COMBINATION THAT
JFK WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY
WILL CONTAIN IMPORTANT INFORMATION ABOUT JFK, SINGAPORE NEWCO, BVI
NEWCO, DIGINEX AND THE BUSINESS COMBINATION. The Definitive Proxy
Statement and other relevant materials in connection with the
Business Combination, and any other documents filed by JFK with the
SEC, may be obtained free of charge at the SEC’s website
(www.sec.gov) or by writing to 8i Enterprises Acquisition Corp, 6
Eu Tong Sen Street, #08-13 The Central, Singapore.
Forward Looking Statements
This press release includes forward looking
statements that involve risks and uncertainties. Forward looking
statements are statements that are not historical facts. Such
forward-looking statements, including the identification of a
target business and potential business combination or other such
transaction, are subject to risks and uncertainties, which could
cause actual results to differ from the forward- looking
statements. These risks and uncertainties include, but are not
limited to, those factors described in the section entitled “Risk
Factors” in the prospectus filed by JFK in connection with its
initial public offering on March 27, 2019. Important factors, among
others, that may affect actual results or outcomes include: the
inability to complete the proposed transaction; the inability to
recognize the anticipated benefits of the proposed transaction,
which may be affected by, among other things, the amount of cash
available following any redemptions by JFK shareholders; the
ability to meet Nasdaq’s listing standards following the
consummation of the proposed transaction; and costs related to the
proposed transaction. Important factors that could cause the
combined company’s actual results or outcomes to differ materially
from those discussed in the forward-looking statements include:
Diginex’s limited operating history and history of net losses;
Diginex’s ability to manage growth; Diginex’s ability to execute
its business plan; Diginex’s estimates of the size of the markets
for its products; the rate and degree of market acceptance of
Diginex’s products; Diginex’s ability to identify and integrate
acquisitions; potential litigation involving the Company or Diginex
or the validity or enforceability of Diginex’s intellectual
property; general economic and market conditions impacting demand
for Diginex’s products and services; and such other risks and
uncertainties as are discussed in the Company’s prospectus filed in
connection with its initial public offering and the proxy statement
to be filed relating to the business combination. Other factors
include the possibility that the proposed business combination does
not close, including due to the failure to receive required
security holder approvals, or the failure of other closing
conditions.
The Company expressly disclaims any obligations
or undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company's expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based.
Contacts
For inquiries regarding 8i Enterprises Acquisition Corp.:
William Yap, CFAChief Financial OfficerEmail:
ir@8icorp.comPhone: +65 6788-0388
or
Tony Tian, CFA Weitian Group LLC Email:
ttian@weitianco.comPhone: +1 732-910-9692
For inquiries regarding Diginex:
Heather DaleChief Marketing OfficerEmail:
heather.dale@diginex.comPhone: +852 9274 3312
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