Exhibit 99.01
Freedom Holding Corp. Set to Acquire Prime Executions,
Inc.
Acquisition Will Expand Company’s Global Footprint and Sets
Stage for U.S. Growth
ALMATY,
KAZAKHSTAN / ACCESSWIRE / December 21, 2020 / Freedom Holding Corp.
(Nasdaq: FRHC) (the "Company") today announced that the Financial
Industry Regulatory Authority (“FINRA”) has approved
the continuing membership application filed by Prime Executions,
Inc. (“Prime Executions”), a Delaware corporation, that
will permit the Company to complete the acquisition of Prime
Executions. The transaction is expected to close by the first week
of January 2021. Prime Executions is a broker dealer registered
with the U.S. Securities and Exchange Commission and member of the
New York Stock Exchange (“NYSE”) where it acts as an
agency only broker dealer operating from the floor of the exchange.
It is also a member of NASDAQ, FINRA and SIPC.
Commenting
on the acquisition, Company CEO, Timur Turlov stated, “We are
pleased to receive the FINRA approval necessary to allow us to
complete the acquisition of Prime Executions, which has a sterling
reputation at the New York Stock Exchange, and we look forward to
working with the strong team of brokers and market experts that
have been delivering exceptional service to clients for the past 29
years. The acquisition of Prime Executions is an important
milestone for Freedom Holding, as it will give us a foothold in the
U.S. markets that will benefit our clients by assuring them cost
efficient and timely execution of U.S. market trades. Also, we
expect the addition of Prime Executions will allow us to continue
expanding our business by making available to both U.S. and
Eurasian market participants the best cross-market financial
opportunities.”
The
Company also announced that Robert Wotczak has been hired to serve
as the President and CEO of Prime Executions. Mr. Wotczak has more
than 30 years of capital markets advisory and executive management
experience, including employment in senior positions within the
American Stock Exchange and the NYSE. Turlov stated, “Mr.
Wotczak has worked with the Company in an advisory capacity during
the past two years and we are excited to have him assume the
executive leadership of Prime Executions as we move forward with
our growth plans for the firm.”
The
Company acquired the outstanding shares of Prime Executions from
Andrew Silverman and Daniel Tandy. Both Mr. Silverman and Mr. Tandy
have agreed to continue serving as members of the board of
directors of Prime Executions.
About Prime Executions
Prime
Executions is a qualified “Blue Line” NYSE brokerage
firm able to access multiple marketplaces to trade on average more
than 630,000,000 shares per month to meet client needs. Prime
Executions combines an experienced sales team, brokers and all the
available technologies provided by the NYSE and several outside
vendors to provide exceptional fill rates and less shortfall
slippage to a wide variety of clients on both the buy side and sell
side. Additional information regarding Prime Executions may be
viewed at its website www.primexe.com.
About Freedom Holding Corp.
Freedom
Holding Corp., a Nevada corporation, is a financial services
holding company conducting retail financial brokerage, investment
counseling, securities trading, investment banking and underwriting
services through its subsidiaries under the name of Freedom Finance
in Eurasia where it employs more than 1,500 persons. The Company is
a professional participant in numerous securities exchanges
including the Kazakhstan Stock Exchange, Astana International
Exchange, Moscow Exchange, Saint-Petersburg Exchange, Republican
Stock Exchange of Tashkent and Ukrainian Exchange. The Company is
headquartered in Almaty, Kazakhstan, with administrative office
locations in Russia, Cyprus and the United States.
The
Company's common shares are registered with the United States
Securities and Exchange Commission and are traded in the United
States on the Nasdaq Capital Market, operated by Nasdaq,
Inc.
Cautionary Note Regarding Forward-Looking Statements
This release contains "forward-looking" statements. All
forward-looking statements are subject to uncertainty and changes
in circumstances. Forward-looking statements are not guarantees of
future results or performance and involve risks, assumptions and
uncertainties that could cause actual events or results to differ
materially from the events or results described in, or anticipated
by, the forward-looking statements. Factors that could materially
affect such forward-looking statements include completion of
certain conditions to closing, economic, business and regulatory
risks and other factors identified in the Company’s periodic
and current reports filed with the Securities and Exchange
Commission. All forward-looking statements are made only as
of the date of this release and the Company assumes no obligation
to update forward-looking statements to reflect subsequent events
or circumstances. Readers should not place undue reliance on
these forward-looking statements.
Website Disclosure
Freedom
Holding Corp. intends to use its website, https://ir.freedomholdingcorp.com,
as a means for disclosing material non-public information and for
complying with SEC Regulation FD and other disclosure
obligations.
Contact:
usoffice@freedomholdingcorp.com
SOURCE:
Freedom Holding Corp.