Freeman FinTech Corporation Limited completed the acquisition of 67.1% stake in Wins Finance Holdings Inc. from Wang Hong.
As a result of transaction, Wang Hong will no longer be shareholders of Wins Finance Holdings Inc. The purchase price shall paid from internal resources and/or financed under credit facilities of FinTech Corporation Limited. The transaction requires approval form shareholders of Freeman FinTech Corporation Limited and a meeting is scheduled on July 11, 2017. The transaction is also subject to consummation of due diligence and assignment of registration rights and approval from Hong Kong Stock Exchange. The transaction includes a condition that Jianming Hao, Haiming Guo, Guo Chen, and Jingxiao Zhang will resign as Directors and Junfeng Zhao, Xiaofeng Zhong, Shihai Wang, and Weiqi Chen shall be appointed as Directors of Wins Finance Holdings Inc. Board of Directors of Freeman FinTech Corporation Limited has approved the transaction. As on July 10, 2017, Freeman FinTech Corporation Limited has received approval from Hong Kong Stock Exchange. On July 11, 2017, shareholders of Freeman FinTech Corporation Limited approved the transaction. Crowe Horwath (HK) CPA Limited acted as accountant to Wins Finance Holdings Inc.
Freeman FinTech Corporation Limited (SEHK:279) completed the acquisition of 67.1% stake in Wins Finance Holdings Inc. (NasdaqCM:WINS) from Wang Hong on August 2, 2017. Haiming Guo, Guo Chen and Jingxiao Zhang resigned from the Board of Directors of Wins Finance Holdings and Xiaofeng Zhong, Shihai Wang and Weiqi Chen were appointed to the Board of Directors of Wins Finance Holdings.