SHANGHAI, July 10, 2020 /PRNewswire/ -- China Rapid Finance
Limited (NYSE: XRF) (the "Company") today announced that the
Company's ticker symbol on the New York Stock Exchange will change
from "XRF" to "SOS," effective at the start of trading on
July 20, 2020.
Mr. Yandai Wang, CEO of the Company, said, "We are excited to be
able to align our NYSE ticker symbol with the 'SOS' brand in
recognition of our ongoing transition out of the fin-tech business
and into the emergency rescue services business. This change will
provide for better alignment between the core business operations
of the company and its stock symbol which we believe will lead to
better investor understanding. It also makes it clearer what the
business focus and its primary source of earnings will be going
forward."
There is also a proposed change in the Company's name from
"China Rapid Finance Limited" to "SOS Limited," which is pending
approval at the Company's annual general meeting of shareholders to
be held on July 17, 2020. If approved
at the meeting, the effective date of the name change shall also be
July 20, 2020. In conjunction with
the name change, the Company's CUSIP will change from "16953Q204"
to "83587W106."
Holders of existing American Depositary Receipts ("ADRs") would
be required to surrender their existing ADRs in exchange for new
ADRs that reflect the new corporate name and CUSIP and should
contact the Company's depositary bank, Citibank, N.A.
About China Rapid Finance Limited
China Rapid Finance Limited (NYSE: XRF) is a holding company
operating primarily in the emergency rescue services business. The
Company provides a wide range of emergency rescue services to its
corporate and individual members in China through its operating subsidiary, SOS
Information Technology Co., Ltd. ("SOS"). SOS also provides
various types of membership cards to individual members in large
corporations as part of employee benefits. Its products include SOS
Medical Rescue Card, SOS Auto Rescue Card, SOS Financial Rescue
Card, and SOS Life Rescue Card. SOS utilizes cloud and other
cutting-edge technologies to provide emergency rescue services in a
new fashion, including its app based mobile platform, cloud call
centers and large data centers. SOS has contractual service
agreements with major banks, insurance companies, internet
companies, and telecom providers in China.
Forward-Looking Statements
Certain statements made herein are "forward-looking statements"
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"anticipate," "believe," "expect," "estimate," "plan," "outlook,"
and "project" and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. Such forward-looking statements include timing
of the proposed transaction; the business plans, objectives,
expectations and intentions of the parties once the transaction is
complete, and XRF's estimated and future results of operations,
business strategies, competitive position, industry environment and
potential growth opportunities. These forward-looking statements
reflect the current analysis of existing information and are
subject to various risks and uncertainties. As a result, caution
must be exercised in relying on forward-looking statements. Due to
known and unknown risks, our actual results may differ materially
from our expectations or projections. All forward-looking
statements attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by these factors.
Other than as required under the securities laws, the Company does
not assume a duty to update these forward-looking statements.
Additional information concerning these and other factors that
may impact our expectations and projections can be found in our
periodic filings with the SEC, including our Annual Report on Form
20-F for the fiscal year ended December 31,
2019. XRF's SEC filings are available publicly on the SEC's
website at www.sec.gov. XRF disclaims any obligation to update the
forward-looking statements, whether as a result of new information,
future events or otherwise.
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SOURCE China Rapid Finance
