BEIJING, Aug. 23,
2024 /PRNewswire/ -- China Liberal Education
Holdings Limited (Nasdaq: CLEU) ("China Liberal", the "Company",
"we", "our", or "us"), a China-based company that provides
smart campus solutions and other educational services, today
announced that the Company received a written notification (the
"Notification Letter") from the Nasdaq Stock Market LLC ("Nasdaq")
on August 21, 2024, notifying the Company that it is not in
compliance with the minimum bid price requirement set forth in the
Nasdaq Listing Rules for continued listing on the Nasdaq.
Nasdaq Listing Rule 5550(a)(2) requires listed securities to
maintain a minimum bid price of US$1.00 per share, and
Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet
the minimum bid price requirement exists if the deficiency
continues for a period of 30 consecutive business days. Based on
the closing bid price of the Company's ordinary shares for the 32
consecutive business days from July 8,
2024 to August 20, 2024, the Company no longer meets the
minimum bid price requirement.
The Notification Letter does not impact the Company's listing on
the Nasdaq Capital Market at this time. In accordance with Nasdaq
Listing Rule 5810(c)(3)(A), the Company has been provided 180
calendar days, or until February 17, 2025, to regain compliance
with Nasdaq Listing Rule 5550(a)(2). To regain compliance, the
Company's ordinary shares must have a closing bid price of at least
US$1.00 for a minimum of 10 consecutive business days. In the event
the Company does not regain compliance by February 17, 2025, the
Company may be eligible for additional time to regain compliance or
may face delisting.
The Company's business operations are not affected by the
receipt of the Notification Letter. The Company intends to monitor
the closing bid price of its ordinary shares and may, if
appropriate, consider implementing available options, including,
but not limited to, implementing a reverse share split of its
outstanding ordinary shares, to regain compliance with the minimum
bid price requirement under the Nasdaq Listing Rules.
About China Liberal Education Holdings Limited
China Liberal is an educational services provider headquartered
in Beijing, China. China
Liberal provides a wide range of services, including technological
consulting for Chinese universities to improve their campus
information and data management systems, designed to enhance the
teaching, operating, and management environment of the
universities, thus establishing a "smart campus." Additionally,
China Liberal offers tailored job readiness training for graduating
students. For more information, please visit the Company's website
at http://ir.chinaliberal.com/.
Forward-Looking Statements
This document contains forward-looking statements. These
forward-looking statements involve known and unknown risks and
uncertainties and are based on the Company's expectations and
projections about future events, which the Company derives from the
information currently available to the Company. Such
forward-looking statements relate to future events or our future
performance, including: our financial performance and projections;
our growth in revenue and earnings; and our business prospects and
opportunities. You can identify forward-looking statements by those
that are not historical in nature, particularly those using
terminology such as "may," "should," "expects," "anticipates,"
"contemplates," "estimates," "believes," "plans," "projected,"
"predicts," "potential," or "hopes" or the negative of these or
similar terms. When evaluating these forward-looking statements,
you should consider various factors, including our ability to
change the direction of the Company; our ability to keep pace with
new technology and changing market needs; and the competitive
environment of our business. These and other factors may cause
actual results to differ materially from any forward-looking
statement. Forward-looking statements are only predictions. The
forward-looking events discussed in this press release and other
statements made from time to time by us or our representatives, may
not occur, and actual events and results may differ materially and
are subject to risks, uncertainties, and assumptions about us. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as required by law. Although
the Company believes that the expectations reflected in these
forward-looking statements are reasonable, it can provide no
assurance that these expectations will prove to be accurate, and it
cautions investors that actual results may differ materially from
the anticipated results. Investors are encouraged to review the
risk factors that may affect future results in the Company's
registration statement and in its other filings with the U.S.
Securities and Exchange Commission.
Investor Relations Contact
China Liberal Education Holdings
Limited
Email: ir@chinaliberal.com
Ascent Investor Relations LLC
Tina Xiao
President
Phone: +1 646-932-7242
Email: investors@ascent-ir.com
View original
content:https://www.prnewswire.com/news-releases/china-liberal-education-holdings-limited-receives-nasdaq-notification-regarding-minimum-bid-price-deficiency-302229612.html
SOURCE China Liberal Education Holdings Limited
