SHANGHAI, Feb. 3, 2025
/PRNewswire/ -- Four Seasons Education (Cayman) Inc. ("Four
Seasons Education" or the "Company") (NYSE: FEDU), a tourism and
education-related service provider in China, today announced that it has received a
letter from the New York Stock Exchange (the "NYSE") dated
January 30, 2025 (the "Notice"),
notifying the Company that it is no longer in compliance with the
minimum stockholder requirement for continued listing on NYSE
pursuant to Section 802.01 "Continued Listing Criteria" of the NYSE
Listed Company Manual, which requires the Company to maintain a
number of total stockholders of not less than 1,200.
In accordance with NYSE listing requirements, the Company has 45
calendar days from the receipt of the Notice to respond with a
business plan that demonstrates compliance with this continued
listing standard within 18 months of receipt of the Notice. The
Company is currently evaluating its available options and
developing a plan to regain compliance with Section 802.01.
The Notice has no immediate impact on the listing of the
Company's ADSs, which will continue to be listed and traded on the
NYSE, subject to compliance with other continued listing
requirements of the NYSE. The Company is currently in compliance
with all other NYSE continued listing standards. The NYSE
notification does not affect the Company's business operations or
its SEC reporting requirements.
About Four Seasons Education (Cayman) Inc.
Four Seasons Education (Cayman) Inc. is a service provider of
both tourism and education-related services in China. The Company's program, service and
product offerings mainly consist of non-academic tutoring programs,
school-based tutoring product solutions and training programs for
teachers, study camps and learning trips for students, and travel
agency services for all age groups.
For more information, please visit https://ir.sijiedu.com.
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 retain existing students, its ability to deliver a satisfactory
learning experience and improving their academic 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 exchange, 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.
For investor and media inquiries, please contact:
In China:
Four Seasons Education (Cayman) Inc.
Olivia Li
Tel: +86 (21) 6317-6177
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.
