MICT, Inc. Files Preliminary Proxy to Expand Authorized Share Count to Accommodate Dynamic Growth and Acquisition Strategy
November 10 2021 - 07:30AM
MICT, Inc. (Nasdaq: MICT), (the "Company"), announces today
the filing of a preliminary proxy statement, which includes the
proposed increased expansion of authorized shares to 425 million
shares from 250 million shares. The Company remains actively
searching for accretive external acquisitions and believes the
additional authorized shares will help facilitate such potential
transactions in the Company’s short, medium, and long-term horizon.
The Company’s expansion strategy is an important
component of the Company’s future growth plans and believes such
additional shares will be a highly useful tool in connection
therewith. With the Company’s significant cash reserves, the
additional authorized shares opens up a significant number of
opportunities for the Company.
The preliminary proxy can be accessed via the
investor relations section of the Company’s website at
www.mict-inc.com.
About MICT, Inc.MICT, Inc.
(NasdaqCM: MICT) operates through its subsidiaries, GFH
Intermediate Holdings Ltd ("GFHI"), its various fully owned
subsidiaries or VIE structures. GFHI's versatile proprietary
trading technology platform is designed to serve a large number of
high growth sectors in the global fintech space. Primary areas of
focus include online brokerage for equities trading and sales of
insurance products in several high-growth foreign markets including
Asia where GFH owns a substantial propriety database of users.
Forward-looking Statement
This press release
contains express or implied forward-looking statements within the
Private Securities Litigation Reform Act of 1995 and other U.S.
Federal securities laws. All statements other than statements of
historical fact contained in this press release are forward-looking
statements. The words “believe,” “may” “will,” “estimate,”
“continue,” “anticipate,” “intend,” “expect” and similar
expressions, as they relate to us, are intended to identify
forward-looking statements. We have based these forward-looking
statements on our current expectations and projections about future
events and financial trends that we believe may affect our
financial condition, results of operations, business strategy,
business prospectus, growth strategy and liquidity. Such
forward-looking statements and their implications involve known and
unknown risks, uncertainties and other factors that may cause
actual results or performance to differ materially from those
projected. The forward-looking statements contained in this press
release are subject to other risks and uncertainties, including
those discussed in the “Risk Factors” section and elsewhere in the
Company’s annual report on Form 10-K for the year ended December
31, 2020 and in subsequent filings with the Securities and Exchange
Commission. Except as otherwise required by law, the Company is
under no obligation to (and expressly disclaims any such obligation
to) update or alter its forward-looking statements whether as a
result of new information, future events or otherwise.
Contact information:ir@mict-inc.com
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