Bright Scholar Announces Appointment of Independent Financial Advisor and Legal Advisor to Special Committee

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FOSHAN, China, July 21, 2022 /PRNewswire/ — Bright Scholar Education Holdings Limited (“Bright Scholar” or the “Company”) (NYSE: BEDU), a leading global education services company, today announced that the Special Committee (the “Special Committee”) of the Board of Directors (the “Board”), formed to evaluate and review the previously announced non-binding preliminary acquisition proposal letter dated April 29, 2022 (the “Proposal”) or any alternative strategic option that the Company may pursue, has retained Citigroup Global Markets Asia Limited as independent financial advisor to the Special Committee and Skadden, Arps, Slate, Meagher & Flom LLP as legal advisor to the Special committee to support it in this process.

The Special Committee is continuing its review and assessment of the proposal and any other strategic options the Company may consider. The board advises company shareholders and others considering trading in the company’s securities that no decision has been made regarding the proposal. There can be no assurance that a definitive offer will be received, that a definitive agreement will be executed with respect to the transaction contemplated by the proposal, or that the transaction contemplated by the proposal or any other similar transaction will be approved or completed. The Company undertakes no obligation to provide updates regarding any transaction except as required by applicable law.

About Bright Scholar Education Holdings Limited

Bright Scholar is a leading global educational services company, primarily providing quality international education to students around the world and equipping them with the essential academic foundations and skills needed to be successful in pursuing higher education. Bright Scholar also complements its international offerings with a Chinese government-mandated program for students who wish to retain the opportunity to pursue graduate studies in China.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terminology such as that “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “plan”, “believe”, “potential”, “continue “, “is/will be likely to ” or other similar expressions. These statements are based on management’s current expectations and current market and operating conditions and relate to events that involve known and unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the control of the Company, which may cause the actual results, performance or achievements of the Company to differ materially from those indicated in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required by law.

IR contact:
GCM Strategic Communications
E-mail: [email protected]

Media Contact:
E-mail: [email protected]
Phone: +86-757-6683-2507

SOURCE Bright Scholar Education Holdings Ltd.

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