Weyland Tech Provides Update Regarding Issuance of Weyland AtoZ Pay Spin-Off Shares


New York, NY, Dec. 27, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Weyland Tech Inc. (OTCQX: WEYL) (“Weyland” or the “Company”) announced today that the Company’s transfer agent has commenced issuing the Weyland AtoZ Pay Inc. (“WAI”) spin-off shares based on the beneficial owner lists submitted by the various banks/brokers with positions in WEYL as of the spin-off record date. As indicated in the last update, shareholders will be receiving their WAI account statements from the transfer agent via email, or alternative delivery methods, if a valid email address was not available.

All shareholders should expect to receive their WAI account statements from the transfer agent by December 28th.  If you held your WEYL shares in “street name” through a bank/broker as of the spin-off record date and you do not receive your WAI account statement from the transfer agent by December 28th, the Company has made available in the “Investor” section of its website a “Notice of Failure to Receive Spin-Off Account Statement” form which will allow you to notify the Company accordingly. We urge all such shareholders who do not receive their WAI account statement to utilize this form when notifying the Company. The following banks/brokers submitted beneficial owner lists with the following positions in WEYL as of the spin-off record date:

Participant #Bank/BrokerWEYL Beneficial Owner List Position (as of Record Date)
756AMERICAN ENTERPRISE INVESTMENT SERVICES INC.507
158APEX CLEARING CORPORATION223,440
5043BMO NESBITT BURNS-CDS3,465
2787BNP PARIBAS-NY BRANCH-CUSTODY-CLIENT ASSETS1,197,585
701CETERA INVESTMENT SERVICES LLC90,000
164CHARLES SCHWAB & COMPANY, INC.445,217
908CITIBANK, NA14,494
52COR CLEARING LLC11,685
385E*TRADE SECURITIES LLC364,121
5040FIDELITY CLEARING CANADA LLC-CDS18,004
5058HAYWOOD SECURITIES INC-CDS5,300
279HILLTOP SECURITIES INC.19,128
534INTERACTIVE BROKERS RETAIL EQUITY CLEARING495,873
750INTL FCSTONE FINANCIAL INC.13,101
374JANNEY MONTGOMERY SCOTT LLC37,951
902JP MORGAN CHASE BANK, NA2,000
352JP MORGAN SECURITIES LLC/JPMC15,009
5071LEEDE JONES GABLE0
75LPL FINANCIAL CORPORATION3
5029MACKIE RESEARCH CAPITAL CORPORATION-CDS1
287MARSCO INVESTMENT CORPORATION2,000
161MERRILL LYNCH PIERCE FENNER & SMITH2,087
5198MERRILL LYNCH PIERCE FENNER & SMITH-SAFEKEEPING96,463
8862MERRILL LYNCH PIERCE FENNER & SMITH-8862 MLPF&S TS SUB21,367
15MORGAN STANLEY SMITH BARNEY LLC24,807
226NATIONAL FINANCIAL SERVICES LLC (FIDELITY)490,387
2669NORTHERN TRUST COMPANY701
571OPPENHEIMER & CO., INC.17,568
443PERSHING LLC993,320
725RAYMOND JAMES & ASSOCIATES INC.57,585
5002RBC/DOMNION SECURITIES INC.-CDS56,300
235RBC CAPITAL MARKETS LLC387,511
5011SCOTIA CAPITAL INC.-CDS43,427
445STOCKCROSS FINANCIAL SERVICES, INC.2,513
188TD AMERITRADE CLEARING INC.1,515,355
5036TD WATERHOUSE CANADA INC.-CDS160,282
221UBS FINANCIAL SERVICES INC.1,000
62VANGUARD MARKETING CORPORATION16,215
8199WEDBUSH SECURITIES INC-P35,100
141WELLS FARGO CLEARING SERVICES LLC3,037
283WILSON-DAVIS & CO., INC.76,477
 TOTAL6,930,386

The following banks/brokers have not yet submitted beneficial owner lists in connection with the spin-off and, accordingly have not been issued WAI account statements from the transfer agent for any spin-off entitlements they, or their beneficial owners, may have.

Participant #Bank/BrokerWEYL Beneficial Owner List Position (as of Record Date)
8072ALPINE SECURITIES CORPORATION1
901BANK OF NEW YORK MELLON415,603
10BROWN BROTHERS HARRIMAN & CO.5
5046CANACORD GENUITY CORP-CDS1
696CANTOR FITZGERALD & CO.650
5099CDS CLEARING AND DEPOSITORY SERVICES INC.5,002
5030CIBC WORLD MARKETS INC-CDS4
2170COMMERCE BANK1
5083CREDENTIAL SECURITIES INC-CDS1
873ELECTRONIC TRANSACTION CLEARING, INC.800
8396HSBC BANK, USA, NA-CLEARING1
824INDUSTRIAL AND COMMERCIAL BANK OF CHINA FINANCIAL SERVICES, LLC2,000
57EDWARD D. JONES & CO.1
1970JP MORGAN CHASE BANK-EUROCLEAR1
512LEK SECURITIES CORPORATION2,402
2145MUFG UNION BANK, NA1
5008NATIONAL BANK FINANCIAL INC-CDS484
5084QUESTRADE INC-CDS5,642
997STATE STREET BANK AND TRUST COMPANY1
2399STATE STREET BANK AND TRUST COMPANY-DEUTSCHE BANK FRANKFURT1
271TRADESTATION SECURITIES INC.156,310
2622TEXAS TREASURY SAFEKEEPING TRUST COMPANY2
295VIRTU AMERICAS LLC1,094
595VISION FINANCIAL MARKETS LLC1,750
 TOTAL591,758

If you owned shares of WEYL as of the spin-off record date through any of the above banks/brokers who have not yet submitted their beneficial owner list, you should urge them to submit their beneficial owner list, in accordance with the spin-off processing instructions, as soon as possible so you can receive your spin-off entitlement.

If any banks/brokers or shareholders have any questions regarding the above spin-off delivery procedures, they can direct those inquiries to the contact details below:

  •  Email: spin-off@weyland-tech.com
  •  Tel: 347.566.4334

About Weyland Tech Inc.

Weyland Tech is a global provider of mobile business applications. Its CreateApp platform offers a mobile presence to businesses in emerging markets, with partnerships on 3 continents and growing. This DIY mobile application platform, offered in 14 languages with over 35 integrated modules, enables small and medium sized businesses (“SMB’s”) to create native mobile applications (“apps”) for Apple’s iOS and Google Android without technical knowledge or background, empowering SMB’s to increase sales, reach more customers and promote their products and services in an easy, affordable and efficient manner.

In May 2018, the Company expanded its portfolio to fintech applications with the launch of its AtozPay mobile payments platform. The mobile wallet launched in the worlds 4th most populous country, Indonesia, and is already experiencing rapid growth in transactions taking place on the platform.

Safe Harbor Statement

This release contains certain “forward-looking statements” relating to the business of the Company. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding: the continued growth of the e-commerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.


        

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