Exhibit 99.1
China Distance Education Holdings Limited
Announces Shareholders Approval of Going-Private Transaction
BEIJING February 26, 2021 China Distance Education Holdings Limited (NYSE: DL) (the Company), a leading provider of online
education and value-added services for professionals and corporate clients in China, today announced that at an extraordinary general meeting (the EGM) held today Beijing Time, the Companys shareholders voted at the EGM to
authorize and approve (i) the previously-announced agreement and plan of merger (the Merger Agreement), dated as of December 1, 2020, by and among the Company, Champion Distance Education Investments Limited
(Parent), and China Distance Learning Investments Limited (Merger Sub), a wholly-owned subsidiary of Parent, pursuant to which Merger Sub will be merged with and into the Company (the Merger); (ii) the plan of
merger required to be filed with the Registrar of Companies of the Cayman Islands (the Plan of Merger) for the purposes of the Merger; and (iii) the transactions contemplated by the Merger Agreement and the Plan of Merger, including
the Merger.
Approximately 96.6% of the total outstanding ordinary shares (Ordinary Shares) of the Company were voted in person or by proxy at
the EGM. Of the Ordinary Shares voted at the EGM, approximately 67.4% were voted in favor of the Merger Agreement; the Plan of Merger; and the transactions contemplated by the Merger Agreement and the Plan of Merger, including the Merger. The
affirmative vote of at least two-thirds of the ordinary shares present and voting in person or by proxy at the EGM was required for approval.
The Company and the other parties to the Merger Agreement currently expect to proceed expeditiously to complete the Merger, subject to the satisfaction or
waiver of the conditions set forth in the Merger Agreement. Upon completion of the Merger, the Company will survive as a wholly-owned subsidiary of Parent; the American depositary shares (the ADSs) of the Company, each of which
represents four Ordinary Shares, will no longer be listed on The New York Stock Exchange; the ADS program will terminate; and the ADSs and the Ordinary Shares will cease to be registered under Section 12 of the Securities Exchange Act of 1934.
Safe Harbor Statement
This announcement contains
forward-looking statements. Any such statements are made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as
will, may, should, potential, continue, expect, predict, anticipate, future, intend, plan, believe,
is/are likely to, estimate, and similar statements. The Company may also make written or oral forward-looking statements in its periodic and annual reports to the SEC, in press releases and other written materials, and in
oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about the Companys beliefs and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. Risks and uncertainties include the possibility that the Merger will not occur as planned if events arise that result in the termination of the Merger Agreement, if one or more of the various
closing conditions to the Merger are not satisfied or waived, and other risks and uncertainties regarding the Merger Agreement and the Merger that are discussed in the proxy statement included as part of the
Schedule 13E-3 transaction statement filed with the SEC on January 29, 2021 by the Company and the other filing persons named therein. The Company does not undertake any obligation to update any
forward-looking statement or other information included in this press release, except as may be required by applicable law.