UP Fintech Holding Limited Announces Director Resignations

Rhea-AI Summary

UP Fintech Holding Limited (Nasdaq: TIGR) announced the resignations of Ms. Xian Wang and Mr. David Friedland as directors, effective March 18, 2022. Ms. Wang's resignation was due to the expiration of her service agreement, while Mr. Friedland left for personal reasons. Importantly, both resignations occurred without any disagreements with the company. UP Fintech is a leading online brokerage focusing on global investors, providing a comprehensive trading platform and a range of innovative services.

Positive

• Resignations could allow for new leadership and fresh perspectives.

Negative

• The departure of two directors raises concerns about continuity and potential experience gaps within the board.

SINGAPORE, March 21, 2022 (GLOBE NEWSWIRE) -- UP Fintech Holding Limited (Nasdaq: TIGR) (“UP Fintech” or the “Company”), a leading online brokerage firm focusing on global investors, today announced that Ms. Xian Wang has tendered her resignation as a director of the Company, effective on March 18, 2022, due to the expiration of the service agreement between her and the Company. Mr. David Friedland has tendered his resignation as a director of the Company due to personal reasons, effective on March 18, 2022. Ms. Xian Wang and Mr. David Friedland’s resignations did not result from any disagreement with the Company.

About UP Fintech Holding Limited

UP Fintech Holding Limited is a leading online brokerage firm focusing on global investors. The Company’s proprietary mobile and online trading platform enables investors to trade in equities and other financial instruments on multiple exchanges around the world. The Company offers innovative products and services as well as a superior user experience to customers through its “mobile first” strategy, which enables it to better serve and retain current customers as well as attract new ones. The Company offers customers comprehensive brokerage and value-added services, including trade order placement and execution, margin financing, IPO subscription, ESOP management, investor education, community discussion and customer support. The Company’s proprietary infrastructure and advanced technology are able to support trades across multiple currencies, multiple markets, multiple products, multiple execution venues and multiple clearinghouses.

For more information on the Company, please visit: https://ir.itiger.com.

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 “may,” “might,” “aim,” “likely to,” “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements or expressions. Among other statements, the description of the Company’s strategic and operational plans including as they relate to the change of principal executive office contains forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties, including the earnings conference call. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are 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, including but not limited to the following: the cooperation with Interactive Brokers LLC and Xiaomi Corporation and its affiliates; the Company’s growth strategies; trends and competition in global financial markets; changes in the Company’s revenues and certain cost or expense accounting policies; the effects of the global COVID-19 pandemic; and governmental policies relating to the Company’s industry and general economic conditions in China, Singapore and other countries. Further information regarding these and other risks is included in the Company’s filings with the SEC, including the Company’s annual report on Form 20-F filed with the SEC on April 28, 2021. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. Further information regarding these and other risks is included in the Company’s filings with the SEC.

For investor and media inquiries please contact:

Investor Relations Contact

UP Fintech Holding Limited
Email: ir@itiger.com 

FAQ

What prompted the recent director resignations at UP Fintech Holding Limited?

Ms. Xian Wang resigned due to the expiration of her service agreement, and Mr. David Friedland resigned for personal reasons.

When did the directors resign from UP Fintech?

Both directors resigned effective March 18, 2022.

What is the impact of the director resignations on UP Fintech Holding Limited?

The resignations could lead to changes in leadership dynamics and raise concerns about continuity and board experience.