Weyland Tech, Inc. (OTCMKTS:WEYL) Files An 8-K Other Events
Item 8.01 Other Events.

Update onSpin-off

On September 19, 2018, Weyland Tech Inc. (the “Company” or “we”) entered into formal distribution agreement (the “Agreement”) with its Weyland AtoZ Pay subsidiary (“WAI”), to transfer the Company’s 49% equity ownership interest in PT Weyland Indonesia Perkasa, a limited liability company organized under the laws of the Republic of Indonesia (“WIP”) to WAI. WIP’s primary business operations includes a digital financial transactions app serving the rapidly growing Indonesia e-commerce and e-payment markets (“eWallet”). The transfer is being made in order to effect the previously announced distribution to Weyland Tech stockholders of a pro-rata share of the Company’s ownership in its eWallet business.

The Company previously announced in a press release onAugust 16, 2018a distribution to Weyland Tech stockholders of a pro-rata share of the Company’s ownership in its eWallet business (the“Spin-off”). Today, the Company announced that it has changed the distribution date for the spin-off from October 5, 2018 to November 15, 2018 and has also filed with FINRA the required notice regarding the spin-off. The record date of September 28, 2018 for the spin-off remains unchanged

The spin-off provides fora pro-rata distribution to the Company’s shareholders of 90% of the outstanding shares of WAI, which, in turn, holds a 49% equity ownership interest in WIP.

In the distribution, Weyland stockholders will receive one share of common stock of WAI, for eachfive shares of the Company’s common stock held at the dividend record date at the close of business in the U.S.on or about September 28, 2018.

Weyland will not issue fractional shares of its common stock in the distribution.

A copy of the press release is filed as Exhibit 99.1 to this report and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

99.1

Press release dated for September 20, 2018

WEYLAND TECH, INC. Exhibit
EX-99.1 2 ex99_1apg.htm EXHIBIT 99.1 EXHIBIT 99.1   EXHIBIT 99.1 Weyland Tech Announces Update Regarding Spin-Off of Weyland AtoZ Pay Distribution Date Changed and FINRA Notified of Spin-Off New York,…
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About Weyland Tech, Inc. (OTCMKTS:WEYL)

Weyland Tech, Inc., formerly Seratosa, Inc., is specialized in providing e-commerce solutions and services that facilitate multi-channel business-to-consumer (B2C) and business-to-business (B2B) transactions. The Company manages its business through its segment, e-commerce solutions and service provider. The Company’s CreateApp is an M-commerce applications platform. The CreateApp platform is offered in over 10 languages and enables small-medium-sized businesses (SMBs) to create a mobile application without the need of technical knowledge, investment and background in information technology (IT). The Company offers the CreateApp platform in Singapore (www.createappsingapore.com), India (Jaipur) (www.aapkiapp.in) and the United States/Canada (www.createappamericas.com). The Company offers a DIY App builder through a white label platform in European Union (excluding Russia, Turkey, Armenia and Azerbaijan), Malaysia, Hong Kong/South China, Indonesia, North America and Korea.