NEW YORK and KUALA LUMPUR, Malaysia, Feb. 05, 2024 (GLOBE NEWSWIRE) -- Treasure Global Inc (NASDAQ: TGL) ("TGL" or the "Company"), a leading technology solutions provider, today announced that Chief Executive Officer of the Company, Sam Teo, increased his stake in the Company by purchasing 1,170,000 shares in the open market, totaling an investment of USD $98,397 with each share acquired at $ 0.0841 per share. Following this transaction, Mr. Teo now holds an aggregate of 5.11% of the issued and outstanding voting shares.
"I am excited about the bright future that lies ahead for Treasure Global, as the Company continues to deliver on its strategic objectives and advance a number of key opportunities," said Sam Teo, Chief Executive Officer of TGL. "Our team's relentless dedication to innovation, coupled with our ability to forge strategic partnerships, has elevated our position within the technology solutions space. I believe that this share purchase demonstrates that I firmly believe in the value and potential of our company, which is why I have chosen to increase my stake in TGL."
This purchase demonstrates the alignment of TGL's Chief Executive Officer with the Company's strategic vision for sustained growth and innovation in the dynamic technology sector.
About Treasure Global Inc
Treasure Global is a Malaysian solutions provider developing innovative technology platforms. Treasure Global has developed two technology solutions: the ZCITY App, a unique digital ecosystem that transforms and simplifies the e-payment experience for consumers, while simultaneously allowing them to earn rewards; and TAZTE, a digital F&B management system providing merchants with a one-stop management and automated solution to digitalize their businesses. Treasure Global also acts as a master franchiser in Southeast Asia for popular restaurant chains, while providing them with the TAZTE solution. As of November 28, 2023, ZCITY had over 2,670,000 registered users.
For more information, please visit https://treasureglobal.co/.
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are characterized by future or conditional verbs such as "may," "will," "expect," "intend," "anticipate," "believe," "estimate" and "continue" or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2023 and subsequent filings filed with the Securities Exchange Commission ("SEC"). Copies of these documents are available on the SEC's website, www.sec.gov. These forward-looking statements cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
For further information, please contact:
U.S. Investor Contact
Erika Kay
KCSA Strategic Communications
ir_us@treasuregroup.co
Malaysian Investor Contacts
ir_my@treasuregroup.co
Media Contact
Sue Chuah, Chief Marketing Officer
Treasure Global Inc
mediacontact@treasuregroup.co
