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| Integration to create a one-stop financial services platform |
HONG KONG, Sept 14, 2016 - (ACN Newswire) - Freeman Financial Corporation Limited ("FFCL" or the "Company") (HKEX: 00279.HK) was pleased to announce that the change of company name as set out in the notice of Extraordinary General Meeting (the "EGM") (the "Change of Company Name") was duly passed by the Shareholders by way of poll at the EGM held on 13 September 2016. Subject to approval of the Registrar of Companies in the Cayman Islands, the English name of the Company will be changed from "Freeman Financial Corporation Limited" to "Freeman FinTech Corporation Limited". The Change of Company Name will take effect from the date of entry of the new name on the Registrar of Companies maintained by the Registrar of the Cayman Islands.
The approval of the formation of the JV Securities Company by the China Securities Regulatory Commission and the Ministry of Commerce of the PRC in March 2016 has offered a golden opportunity for the Company to embark on a new milestone in the business development in financial services industry. With this joint venture investment, the Company has been offered a first-starter advantage to access to the huge and fast-growing financial markets in China which enabled the Company to engage in a full spectrum of securities and financial business in China.
In the meanwhile, on 1 September 2016, FFCL entered into a conditional agreement to purchase the entire issued share capital of People Securities Company Limited, and on 12 September 2016, FFCL announced to acquire the entire issued share capital of Elffey Finance Limited. People Securities Company Limited is a licensed corporation carrying out businesses in Type 1 (dealing in securities), 4 (advising on securities) and 9 (asset management) regulated activities under the Securities and Futures Ordinance, and also a member of Professional Insurance Brokers Association of Hong Kong. Elffey Finance Limited is principally engaged in finance leasing and factoring in the PRC.
The Company believes the Change of Company Name will better reflect a new corporate identity, and aiming to create a one-stop financial conglomerate to provide a comprehensive range of financial services.
Topic: Press release summary
Source: Freeman FinTech Corporation Limited
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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