Current Report Filing (8-k)
10 March 2020 - 11:01PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 4, 2020
Future
FinTech Group Inc.
(Exact
name of registrant as specified in its charter)
Florida
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001-34502
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98-0222013
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(State
or other jurisdiction
of
incorporation)
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(Commission
File Number)
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(IRS
Employer
Identification
No.)
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23F,
China Development Bank Tower,
No.
2, Gaoxin 1st Road, Xi’an, China 710075
(Address
of principal executive offices, including zip code)
(86-29)
8187-8277
(Registrant’s
telephone number, including area code)
N/A
(Former
name or former address, if changed since last report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
☐
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
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Trading
Symbol(s)
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Name
of each exchange
on which registered
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Common
Stock, par value $0.001 per share
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FTFT
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Nasdaq
Stock Market
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Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
of Certain Officers
On
March 4, 2020, the board of directors (the “Board”) of Future FinTech Group Inc. (the “Company”)
received the resignation of Mr. Yongke Xue from his position as the Chief Executive Officer of the Company. Mr. Xue’s decision
to resign is not because of any disagreement with the Company, its management or its other directors.
On
March 4, 2020, the Board received the resignation of Mr. Zhi Yan from his position as a member of the Board. Mr. Yan’s decision
to resign is not because of any disagreement with the Company, its management or its other directors.
On
March 4, 2020, the Board appointed Mr. Shanchun Huang (also known as Shawn Shanchuan Huang) as the Company’s Chief Executive
Officer and a member of the Board to fill the vacancies created by the resignation of Mr. Xue and Mr. Yan.
Mr.
Huang, age 54, has served as the president of Wealth Index (Beijing) Fund Management Co., Ltd., which provides private equity
fund management service, from March 2011 to March 2020, and as the president of Wealth Index (Beijing) International Investment
Consulting Co., Ltd., which provides investment management and consulting services for non-securities related business, from August
2004 to March 2020. From May 2001 to June 2004, Mr. Huang was the vice president of Zhejiang Geely Holding Group Corporation,
a global automobile company headquartered in Hangzhou, China. Mr. Huang graduated from Hefei Staff University of Science and Technology
in July, 1986, majoring in news collection and editing. The Board believes that Mr. Huang’s significant business experience
will be an asset to the Company and the Board.
On
March 7, 2020, the Company entered into an employment agreement (the “Agreement”) with Mr. Huang which provides that
Mr. Huang will receive compensation in the amount of $1 per year. The term of the employment agreement is for one (1) year.
Mr.
Huang was not selected pursuant to any arrangement or understanding between him and any other person. There are no family relationships
between Mr. Huang and the directors, nor between Mr. Huang and any executive officer of the Company. Mr. Huang is not party to
any transaction that would require disclosure under Item 404(a) of Regulation S-K promulgated under the Securities Act of 1933,
as amended.
The
foregoing description of the Agreement is only a summary of the terms of the Agreement and does not purport to be a complete description
of such document, and is qualified in its entirety by reference to the Agreement, a copy of which is attached as an exhibit hereto
and which is incorporated by reference into this Item 5.02
Item
9.01. Financial Statements and Exhibits
(d)
Exhibits.
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#
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Indicates
management contract or compensatory plan, contract or arrangement.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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Future
FinTech Group Inc.
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Date:
March 10, 2020
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By:
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/s/
Shanchun Huang
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Name:
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Shanchun
Huang
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Title:
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Chief
Executive Officer
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2
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