HANGZHOU, China, January 3118, 2022 /PRNewswire/ — Hailiang Education Group Inc. (Nasdaq: HLG), (“Hailiang Education” or the “Company” or “We”), a K-12 education and management institution services supplier in Chinaannounced today that the Special Committee (the “Special Committee”) of the Company’s Board of Directors (the “Board”) has retained Duff & Phelps, A Kroll Business doing business as Kroll, LLC, as its independent finance company to advise, and OrrickHerrington & Sutcliffe LLP as its independent US attorney Advice, to assist the Special Committee in its evaluation and review of the previously announced non-binding preliminary proposal letter that the Board received on December 23, 2021 of Mr. Hailiang Feng (the “Buyer”), the founder of the Company (the “Proposed Transaction”).
The Company warns its shareholders and other persons contemplating trading in its securities that the proposed transaction is only a preliminary indication of the buyer’s interest and does not constitute any binding commitment with respect to the proposed transaction or any other transaction.
No the decision has was made by the special committee As it concerns the proposed transaction. The is no assurance that a final offer relating to the Proposed Transaction will be made by the Buyer, Where that any definitive agreement will be executed with respect to the Proposed Transaction or any other transaction, or that the proposed transaction or any other transaction will be approved or consummated.
The Company undertakes no obligation to provide any update regarding the Proposed Transaction, except for any updates required under applicable law. At present, no action by shareholders of the Company is required. Further announcements will be made by the special committee how and when appropriate.
About Hailiang Education Group Inc.
Hailiang Education Group Inc. (Nasdaq: HLG) is one of the largest providers of K-12 education and management services in China. The company primarily focuses on providing a distinguished, specialized and internationalized education. Hailiang Education is dedicated to providing students with a high-quality high school curriculum, K-12 student management services, auxiliary educational services, and education and management services, and it is strives to maintain the high quality of life, study and education of its students. development. Hailiang Education tailors its educational services to the individual abilities of its students. Hailiang Education is dedicated to improving the academic abilities, cultural achievements and international outlook of its students. For more information, visit http://ir.hailiangedu.com.
This press release contains information about Hailiang Education’s views on its future expectations, plans and prospects that constitute forward-looking statements. These forward-looking statements are made under the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this announcement are forward-looking statements, including, but not limited thereto: conditions in China, competition in China’s education sector, expected growth of China’s private education market, Chinese government policies relating to private education services and providers of such services, health and other epidemics in China, the Company’s business plans, the future development of the Company’s business, results of operations and financial condition, expected changes in the Company’s revenues and certain elements of costs or expenses, its ability to raise additional funds, its ability to maintain and develop its activities, the variety reliability of operating results, its ability to maintain and improve its brand, its development and the introduction of new products and services, the number of students entrusted by the schools, the successful integration of companies, technologies and assets acquired in its software and services portfolio, marketing and business development initiatives, reliance on key personnel, the ability to attract, hire and retain personnel who have the technical skills and experience necessary to meet the requirements of its customers, and its ability to protect its intellectual property, following current or future litigation or arbitration, including those relating to copyrights and other intellectual property rights, and d other risks detailed in the Company’s filings with the United States Securities and Exchange Commission (the “SEC”). Hailiang Education may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors or employees to some thirds. parties. Statements that are not historical facts, including statements about Hailiang Education’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, known and unknown, and are based on current expectations and projections regarding future events and financial trends that the Company believes could affect its financial condition, results of operations, its business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may”, “will”, “will”, “will”, “expect”, “anticipate”, “aim”, “estimates”, “intends”, “plans”, “believes”, “potential”, “continues”, “endeavours”, “is/are likely to” or other similar expressions. further information regarding these and other risks is included in our Annual Report on Form 20-F and in other filings with the SEC.All information provided in this press release is as of the date of this press release. press, and Hailiang Education assumes no obligation to update forward-looking statements, except as required by applicable law.
For more information please contact:
Mr. Litao Qiu
Hailiang Education Group Inc.
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