Mercurity Fintech Holding Inc. Announces Results of 2021 Extraordinary General Meeting

Rhea-AI Summary

Mercurity Fintech Holding Inc. (Nasdaq: MFH) recently held its 2021 Extraordinary General Meeting on February 5, 2021, in Beijing. Key outcomes included an increase in authorized share capital from US$50,000 to US$250,000 and the re-election of several Board members, including Hua Zhou as Chairperson. This capital increase may position the company for future growth, yet it could also lead to potential dilution of existing shares.

Positive

• Authorized share capital increased from US$50,000 to US$250,000, which may support future business expansion.
• Re-election of experienced Board members helps maintain corporate governance stability.

Negative

• Share dilution risk for current shareholders due to increased authorized share capital.

BEIJING, Feb. 8, 2021 /PRNewswire/ -- Mercurity Fintech Holding Inc. (the "Company") (Nasdaq: MFH) today announced the results of its 2021 Extraordinary General Meeting, held on February 5, 2021 in Beijing, where it adopted resolutions, effective immediately, to: (i) increase the authorized share capital of the Company from US$50,000 to US$250,000; and (ii) re-elect following nominees as members of the Company's Board of Directors:

						Name	Title
						Hua Zhou	Director and Chairperson of the Board of Directors
						Haohan Xu	Director
						Longming Wu	Director
						Xiaoyu Li	Director
						Tony C. Luh	Director
						Paul L. Gillis	Director
						Yuan-Ching (Samuel) Shen	Director

 

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "aim," "anticipate," "believe," "estimate," "expect," "hope," "going forward," "intend, " "ought to, " "plan, " "project," "potential," "seek," "may," "might," "can," "could," "will," "would," "shall," "should," "is likely to" and the negative form of these words and other similar expressions. Among other things, statements that are not historical facts, including statements about the Company's beliefs and expectations are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. All information provided in this press release is as of the date of this press release and is based on assumptions that the Company believes to be reasonable as of this date, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contact:
Xingyan Gao
Mercurity Fintech Holding Inc.
ir@mercurity.com
Tel: +86 (10) 5360-6428

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SOURCE Mercurity Fintech Holding Inc.

FAQ

What was the significant decision made at Mercurity Fintech Holding Inc.'s Extraordinary General Meeting on February 5, 2021?

The meeting resulted in increasing the authorized share capital from US$50,000 to US$250,000.

Who were re-elected to Mercurity Fintech Holding Inc.'s Board of Directors during the February 2021 meeting?

Re-elected members include Hua Zhou (Chairperson), Haohan Xu, Longming Wu, Xiaoyu Li, Tony C. Luh, Paul L. Gillis, and Yuan-Ching (Samuel) Shen.

How will the increase in authorized share capital affect Mercurity Fintech Holding Inc. shareholders?

The increase could potentially dilute existing shares if new shares are issued.

When was the Extraordinary General Meeting of Mercurity Fintech Holding Inc. held?

The meeting took place on February 5, 2021.

What is the stock symbol for Mercurity Fintech Holding Inc.?

The stock symbol is MFH.