BEIJING, Jan. 13,
2025 /PRNewswire/ -- China Liberal Education
Holdings Limited ("China Liberal" or the "Company")
(NASDAQ: CLEU), a China-based
company that provides technological consulting services for smart
campus solutions and other educational services, today announced
that the Company received a written notification (the
"Compliance Notice") from the Listing Qualifications
Department of the Nasdaq Stock Market LLC ("Nasdaq") dated
January 10, 2025, informing the
Company that it has regained compliance with the Nasdaq Listing
Rule 5550(a)(2) ("Minimum Bid Price Requirement") and the
matter is closed.
As previously announced, the Company received a notification
letter from the Nasdaq dated August 21,
2024, indicating its failure to maintain a minimum bid price
of US$1.00 per share for 30
consecutive business days under Minimum Bid Price Requirement.
Pursuant to the Nasdaq Listing Rules 5810(c)(3)(A), the Company was
provided with 180 calendar days, or until February 17, 2025, to
regain compliance.
To comply with the Minimum Bid Price Requirement, the closing
bid price of the Company's ordinary shares must be at least
US$1.00 per share for a minimum of 10
consecutive business days at any time prior to February 17, 2025. Therefore, in order to cure
the Minimum Bid Price deficiency, the Company has effectuated a
share consolidation on December 24,
2024, of which fifteen (15) ordinary shares with par value
of $0.015 per share each in the
Company's issued and unissued share capital consolidated into one
(1) ordinary share with par value of US$0.225.
According to the Compliance Notice, the Company evidenced a
closing bid price of its ordinary shares at or greater than
US$1.00 per share for 10 consecutive
business days from December 24, 2024
to January 8, 2025. Thus, the Company
has regained compliance with the Minimum Bid Price Requirement, and
the matter is closed.
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 most
recent annual report on Form 20-F for the year ended December
31, 2023 and in its other filings with the SEC.
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
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SOURCE China Liberal Education Holdings Limited
