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

On September 24, 2018, Weyland Tech Inc. (the “Company” or “we”) announced that it has made available, to its transfer agent, DTCC and DTC Participants with positions in WEYL, instructions for receiving the spin-off shares of its Weyland AtoZ Pay subsidiary (“WAI”), which holds a 49% equity ownership interest in PT Weyland Indonesia Perkasa, a limited liability company organized under the laws of the Republic of Indonesia (“WIP”). WIP’s primary business operations includes a digital financial transactions app serving the rapidly growing Indonesia e-commerce and e-payment markets (“eWallet”).

The Company’s shareholders of record as of the close of trading on September 28, 2018, the record date for the spin-off, will receive a pro-rata distribution ofone (1) share of common stock of WAI for each five (5) sharesof the Company’s common stock held as of the record date. Fractional shares of WAI common stock will not be issued in the distribution. The spin-off is expected to be effective as of the end of the day on November 15, 2018, the new distribution date for the spin-off.

As the spin-off will be processed outside of DTCC, the Company’s “Spin-Off Processing Instructions for DTC Participants” provide DTC Participants with instructions for receiving the distribution for their beneficial owners. The instructions provide, in part, that:

• In order to obtain the spin-off shares for their clients, each DTC Participant must submit to the Company, no later than October 15, 2015, a beneficial owner list, as of the record date.

• The spin-off shares will be issued by the Company’s transfer agent in certificate form.

• Certificates for each non-objecting beneficial owner (“NOBO”) will be issued in the name of the NOBO and mailed directly to the NOBO at their account address provided in the beneficial owner list.

• Certificates for each objecting beneficial owner (“OBO”) will be issued in the name of the DTC Participant, for the benefit of the OBO, and mailed directly to the DTC Participant, in accordance with the OBO delivery instructions contained in the DTC Participant’s Beneficial Owner List Transmittal, for further processing in accordance with their OBOs’ instructions.

• With respect to WEYL shares held in retirement accounts, the Company will issue certificates for the spin-off shares in the name of the respective DTC Participant, as custodian for, and for the benefit of, the particular retirement account (e.g., Participant Name, Custodian FBO John Smith Roth IRA), and such shares will be mailed directly to the DTC Participant, in accordance with the retirement account delivery instructions contained in the DTC Participant’s Beneficial Owner List Transmittal.

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 24, 2018

WEYLAND TECH, INC. Exhibit
EX-99.1 2 ex99_1apg.htm EXHIBIT 99.1 EXHIBIT 99.1 EXHIBIT 99.1 Weyland Tech Announces Further Update Regarding Spin-Off of Weyland AtoZ Pay Instructions for DTC Participants 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.