On July 27, 2018, Henry Wang, an independent director of the Board of Directors of Longfin Corp. and the chairman of Compensation Committee and member of the Audit committee and Nominating and Governance Committee thereof, notified the company of his resignation from the company's Board of Directors, effective July 27, 2018. There were no disagreements between Henry Wang and the company. The Board subsequently appointed Dr. Avinash Karingam 42, as a member of the Board, which appointment occurred on July 27, 2018, immediately following Henry Wang' resignation. Dr. Avinash Karingam will also serve as chairman of Compensation Committee and member of the Audit committee and Nominating and Governance Committee in place of Henry Wang. Avinash Karingam has spent considerable time in developing alfa generating High frequency trading (HFT) models on various asset classes such as Indices, Currencies, Commodities and Equities, under the framework of Money Management and Risk Management.