Wins Finance Holdings Inc. Announces Nasdaq Hearing Review Decision to Delist its Securities

Rhea-AI Summary

Wins Finance Holdings Inc. (OTC: WINSF) announced on February 22, 2021, that its appeal against a Nasdaq decision to delist its securities was denied by the Nasdaq Listing and Hearing Review Counsel. The Company will continue trading on the OTC Pink Open Market. Wins Finance focuses on providing financing solutions to small and medium enterprises in China and the U.S., aiming to leverage its management team's expertise for long-term shareholder value. The Company emphasizes its commitment to identifying valuable investment opportunities in the market.

Positive

• Continues to operate on OTC Pink Open Market despite Nasdaq delisting.
• Focus on providing financing solutions to underserved SMEs in China and the U.S.
• Management team expertise can enhance investment opportunities.

Negative

• Nasdaq affirmed decision to delist Company's securities, raising concerns about market perception.
• Delisting may impact liquidity and investor confidence.

BEIJING and NEW YORK, Feb. 22, 2021 /PRNewswire/ -- Wins Finance Holdings Inc. ("Wins Finance" or the "Company") (OTC: WINSF), a diversified investment and asset management company that provides integrated financing solutions to small and medium enterprises ("SMEs") in China, today announced that on February 18, 2021, the Company received a letter from the Nasdaq Listing and Hearing Review Counsel (the "Listing Council") pursuant to the Company's appeal of the Nasdaq Hearings Panel (the "Panel") decision to delist the Company's securities from the Nasdaq Stock Market LLC. After considering this matter, the Listing Council affirmed the decision of the Panel to delist the Company's securities.

The Company's ordinary shares currently trade on the OTC Pink Open Market under the ticker "WINSF" and are currently expected to continue trading on such market.

About Wins Finance

Wins Finance is a diversified investment and asset management company. The Company is focused on identifying value accretive investment opportunities and assets in China and the United States that can be enhanced through the strategic involvement of its established management team and its familiarity with the Chinese investment community to help generate long-term value for shareholders. Wins Finance is well positioned to leverage its expertise and existing operations in China to build a comprehensive platform for the provision of lending and other financing solutions to the under-served small and medium enterprise segment. For more information, please visit www.winsholdings.com.

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. All statements other than statements of historical fact in this press release are forward-looking statements and involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements are based on management's current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates, but involve a number of unknown risks and uncertainties. Further information regarding these and other risks are described in the Company's Annual Report on Form 20-F for the year ended June 30, 2019 and in the Company's other filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and actual results may differ materially from the anticipated results. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements.

View original content:http://www.prnewswire.com/news-releases/wins-finance-holdings-inc-announces-nasdaq-hearing-review-decision-to-delist-its-securities-301232495.html

SOURCE Wins Finance Holdings Inc.

FAQ

What is the status of Wins Finance Holdings on the Nasdaq?

Wins Finance's appeal against delisting was denied, leading to continued trading on the OTC Pink Open Market under ticker WINSF.

When did Wins Finance receive the Nasdaq delisting decision?

Wins Finance received the Nasdaq delisting decision on February 18, 2021.

What does Wins Finance do?

Wins Finance is a diversified investment and asset management company that provides financing solutions to small and medium enterprises in China and the U.S.

What stock symbols are associated with Wins Finance?

The company's stock is traded under the ticker symbols WINSF, WINSF.BB, and WINSF.