HONG KONG, Oct. 24, 2016 /PRNewswire/ -- Central Wealth Financial Group Limited (00572.HK) (to be renamed as "Future World Financial Holdings Limited") is pleased to announce that on October 24, 2016, 2,000,000 shares were purchased on the market pursuant to the terms of the Share Award Scheme at an average consideration of approximately HK$0.72. The shares represent approximately 0.03% of the issued share capital of the Company. Total consideration amounted to HK$1,437,000. 58,560,000 shares are held for the Share Award Scheme immediately after the purchases.
The Board is confident about the prospects of the Company. The Share Award Scheme can align the interests of the management and shareholders of the Company so as to speed up the achievement of the Group's strategic goals, improving future business results and enhancing the value of the Company.
Central Wealth Financial Group's Chief Executive Officer Mr. Steven Liu said: "The Group's ongoing cash flow generating from operation is promising and healthy. The Licensee-operated 'Future World Lifestyle' has already been contributing to the Group's income, with approximately HK$10 million in License Fee income being generated from September 2016, the first month of its operation. This operation will have a strong positive impact on the Group's cash flow. We are optimistic about the progress of the Membership Points Redemption Shopping Platform, and will continue to adjust the business strategy of 'Future World Lifestyle' in line with market trends."
The Licensee-operated "Future World Lifestyle" is a Membership Points Redemption Shopping Platform. Users can use their membership points to acquire goods or services from the merchants, traders or service providers. "Future World Lifestyle" offers a wide range of merchandise, from home and living, fashion and accessories, to personal healthcare products.
About Central Wealth Financial Group
Central Wealth Financial Group Limited (00572.HK) actively explores opportunities to diversify its business portfolio into operations with significant growth potential, including the development of "Future World Lifestyle", an e-commerce platform operated by licensee.
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