Skip to main content

UPAY Inc. Announces Successful Share Buyback from Former Director and CEO, Wouter A Fouche

Written by Customer Service on . Posted in Public Companies.

DALLAS, Sept. 19, 2023 (GLOBE NEWSWIRE) — UPAY Inc. (“UPAY” or the “Corporation” or the “Company”) (OTCQB: UPYY) 

UPAY Inc., a leading player in the fintech industry, is pleased to announce the successful conclusion of negotiations to repurchase all the remaining shares from former Director and CEO, Wouter A Fouche. This strategic move reflects UPAY’s commitment to optimizing shareholder value and strengthening its corporate structure.

Over the last few months, UPAY has been engaged in negotiations with Wouter A Fouche to repurchase all the shares he still held in the Company. The buyback involved over 2 million shares at an amount that both parties deemed fair and mutually beneficial.

UPAY Inc. has consistently been committed to optimizing shareholder value, and this share buyback is a testament to that commitment. 

“We appreciate the contributions of Mr. Fouche during his tenure as Director and CEO and we respect his decision to sell back his shares. This strategic move allows UPAY to streamline its ownership structure to align with our vision for the future,” stated Jacob C Fölscher, CEO of UPAY Inc.

This transaction marks a significant milestone in UPAY’s journey as it continues to innovate and grow within the fintech landscape. The Company remains committed to delivering innovative financial solutions to its clients and creating value for its shareholders.

This strategic initiative has resulted in the reduction of outstanding UPAY shares to just 15,508,544, out of the 100,000,000 authorized shares with a public float of only 1,606,878 shares. 

This milestone highlights UPAY’s prudent financial management and its unwavering commitment to delivering value to its shareholders. It serves as a testament to the Company’s long-term vision and its strategic efforts to strengthen its position in the market.

About UPAY Inc.:
UPAY Inc. is a forward-thinking US public company with fintech and other industry related holdings, dedicated to providing cutting-edge financial solutions to its clients. With a focus on innovation and user-centric design, UPAY remains on the bleeding edge of innovation.

For media inquiries, please contact:

CONTACT INFORMATION
UPAY INC.
info@upaytechnology.com 

CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS

The information contained in this publication does not constitute an offer to sell or solicit an offer to buy securities of UPAY, Inc. (the “Company”). This publication contains forward-looking statements, which are not guarantees of future performance and may involve subjective judgment and analysis. The information provided herein is believed to be accurate and reliable, however the Company makes no representations or warranties, expressed or implied, as to its accuracy or completeness. The Company has no obligation to provide the recipient with additional updated information. No information in this publication should be interpreted as any indication whatsoever of the Company’s future revenues, results of operations, or stock price.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.