BEIJING, March 2, 2017 /PRNewswire/ -- China Distance
Education Holdings Limited (NYSE: DL) ("CDEL", or the "Company"), a
leading provider of online education in China focusing on professional education,
today announced that its controlled associate company Beijing
Zhengbao Yucai Education Technology Co., Ltd. ("Zhengbao Yucai")
has completed its previously announced share issuance plan on
China's New Third Board, an
over-the-counter stock exchange. Under the plan, Zhengbao Yucai
issued 41,880,000 common shares, representing 40.5% of the total
outstanding shares of Zhengbao Yucai immediately after the share
issuance, at a price of RMB1.99
($0.29) per common share. Total funds
raised by the share issuance were RMB83.3
million ($12.1 million). The
proceeds from this share issuance are expected to be used by
Zhengbao Yucai for business development, which includes mergers or
acquisitions of complementary businesses focused on China's college market.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
and as defined in the U.S. Private Securities Litigation Reform Act
of 1995. Forward-looking statements are not historical facts, but
instead are predictions about future events. Future events are
inherently uncertain, and our forward-looking statements may turn
out to be incorrect. The Company and Zhengbao Yucai may not realize
the anticipated benefits of Zhengbao Yucai's share issuance plan.
The forward-looking statements in this press release speak only as
of the date on which they are made, and we assume no obligation to
update any forward-looking statements except as required by
law.
About China Distance Education Holdings Limited
China Distance Education Holdings Limited is a leading provider
of online education in China
focusing on professional education. The courses offered by the
Company through its websites are designed to help professionals
seeking to obtain and maintain professional licenses and to enhance
their job skills through our professional development courses in
China in the areas of accounting,
healthcare, engineering & construction, and other industries.
The Company also offers other professional education courses for
the national judicial examination, online test preparation courses
for self-taught learners pursuing higher education diplomas or
degrees, test preparation courses for university students intending
to take the nationwide graduate school entrance exam, and online
language courses. We also offer third-party developed online
courses through our Online Open Learning Platform, a proprietary
education platform that allows people to share their educational
content or deliver live courses online. For further information,
please visit http://ir.cdeledu.com.
Contacts:
China Distance
Education Holdings Limited
|
The Piacente Group |
Investor Relations
|
Investor Relations
Department
|
Brandi
Piacente
|
Tel: +86-10-8231-9999
ext 1805
|
Tel: +1
212-481-2050
|
Email:
IR@cdeledu.com
|
Email:
dl@tpg-ir.com
|
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SOURCE China Distance Education Holdings Limited