SHANGHAI, Jan. 24, 2022 /PRNewswire/ -- Four Seasons
Education (Cayman) Inc. ("Four Seasons Education" or the "Company")
(NYSE: FEDU), a leading Shanghai-based education company, today
announced that it has received a letter from the New York Stock
Exchange (the "NYSE") dated January 6,
2022, notifying Four Seasons Education that it is below
compliance standards due to the trading price of Four Seasons
Education's American depositary shares (the "ADSs").
Pursuant to NYSE Rule 802.01C, a company will be considered to
be below compliance standards if the average closing price of a
security as reported on the consolidated tape is less than
$1.00 over a consecutive 30
trading-day period. Once notified, the company must bring its share
price and average share price back above $1.00 by six months following the receipt of the
notification. The company can regain compliance at any time during
the six-month cure period if on the last trading day of any
calendar month during the cure period the company has a closing
share price of at least $1.00 and an
average closing share price of at least $1.00 over the 30 trading-day period ending on
the last trading day of that month. In the event that at the
expiration of the six-month cure period, both a $1.00 closing share price on the last trading day
of the cure period and a $1.00
average closing share price over the 30 trading-day period ending
on the last trading day of the cure period are not attained, the
NYSE will commence suspension and delisting procedures.
To address this issue, Four Seasons Education intends to monitor
the market conditions of its listed securities and is still
considering its options.
Safe Harbor Statement
This press release contains statements of a forward-looking
nature. These statements, including the statements relating to the
Company's future financial and operating results, are made under
the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. You can identify these
forward-looking statements by terminology such as "will,"
"expects," "believes," "anticipates," "intends," "estimates" and
similar statements. Among other things, management's quotations and
the Business Outlook section contain forward-looking statements.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the Company and the
industry. Potential risks and uncertainties include, but are not
limited to, those relating to its ability to attract new students
and improve students' comprehensive performance, PRC regulations
and policies relating to the education industry in China, general economic conditions in
China, and the Company's ability
to meet the standards necessary to maintain listing of its ADSs on
the NYSE or other stock exchanges, including its ability to cure
any non-compliance with the NYSE's continued listing criteria. All
information provided in this press release is as of the date
hereof, and the Company undertakes no obligation to update any
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that its expectations will turn
out to be correct, and investors are cautioned that actual results
may differ materially from the anticipated results. Further
information regarding risks and uncertainties faced by the Company
is included in the Company's filings with the U.S. Securities and
Exchange Commission, including its annual reports on Form 20-F.
About Four Seasons Education (Cayman) Inc.
Four Seasons Education (Cayman) Inc. is a leading Shanghai-based education company dedicated to
providing comprehensive educational services. The Company's vision
is to unlock students' intellectual potential through high quality
and effective education that can profoundly benefit students. The
Company's proprietary educational service offerings are designed to
cultivate students' interests and enhance their cognitive and
logical thinking abilities. The Company's faculty is led by a group
of experienced senior educators, including recognized scholars and
award-winning teachers. Over the years, the quality of the
Company's educational services has been demonstrated by its student
outstanding performance.
For more information, please visit http://ir.sijiedu.com.
For investor and media inquiries, please contact:
In China:
Four Seasons Education (Cayman) Inc.
Olivia Li
Tel: +86 (21) 6317-6678
E-mail: IR@fsesa.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: fourseasons@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: fourseasons@tpg-ir.com
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SOURCE Four Seasons Education Inc.
