Mercurity Fintech Holding Inc. (the “Company” or “MFH”) (NASDAQ:MFH), a digital fintech group powered by blockchain technology, today announced the voting results from its Annual Shareholders Meeting held on Monday, November 21, 2022, Beijing Time (the “Meeting”).
Proposals described in the Company’s proxy materials were presented to the Company’s shareholders (the “Shareholders”) for consideration and approval at the Meeting. The proposals approved by the requisite majority of the votes cast by the Shareholders that attended the Meeting by proxy or in person are as follows:
- Election of Shi Qiu, Xiang Qu, Er-Yi Toh, Cong Huang, Keith Tan Jun Jie, Alan Curtis, Daniel Kelly Kennedy, Zheng Cui, Qian Sun, and Hui Cheng, to serve the Board of Directors of the Company, until the next annual shareholders meeting and until their successors are duly elected and qualified.
- Approval of the Reverse Split of the Company’s issued ordinary shares at a ratio of not less than one (1)-for-three hundred sixty (360) and not more than one (1)-for-seven hundred twenty (720), with the exact ratio to be set at a whole number within this range to be determined by the Company’s Board, or any duly constituted committee thereof, in its discretion.
- Suspension of the trading of the Company’s American Depositary Receipts / Shares (“ADRs”), termination of the deposit agreement for the ADRs among the Company, its depositary bank, Citibank, N.A., and the holders and beneficial owners of the Company’s ADRs, the exchange of ADRs for the corresponding ordinary shares of the Company, and commencement of trading of the Company’s ordinary shares on the Nasdaq Stock Market upon the effectiveness of the Reverse Split.
“We are pleased to have held our annual shareholder meeting and launched the next chapter of the Mercurity Fintech story with an exceptional group of experienced board members,” said Shi Qiu, CEO of the Company. “The election of our committed, fit-for-purpose, and active board and approval of resolutions will bolster the Company’s ongoing business development as we keep developing technology while focusing on the commercialization and growth.”
