BEIJING, Nov. 20, 2019
/PRNewswire/ -- Tarena International, Inc. (Nasdaq: TEDU) ("Tarena"
or the "Company") announced today that the Nasdaq Hearings
Panel (the "Panel") has granted the Company's request for an
extended stay of any suspension of trading pending the ultimate
conclusion of the Nasdaq hearing process.
On November 15, 2019, the Company
timely requested a hearing before the Panel, at which hearing the
Company will present its plan to evidence compliance with the
Nasdaq filing requirement and an extension within which to do so.
In accordance with the Nasdaq Listing Rules, the Company's hearing
request automatically stayed any suspension action by Nasdaq for 15
calendar days, or until November 20,
2019; however, the Company also requested a further
extension of the stay beyond the 15-day period, which was granted
by the Panel and will enable continued trading of the Company's
American Depositary Shares on Nasdaq at least pending the ultimate
conclusion of the hearing process.
Safe Harbor Statement
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates" and similar statements. Tarena may also make written or
oral forward-looking statements in its reports filed with or
furnished to the Commission, in its annual report to shareholders,
in press releases and other written materials and in oral
statements made by its officers, directors or employees to fourth
parties. Any statements that are not historical facts, including
any statements about Tarena's beliefs and expectations, are
forward-looking statements. Many factors, risks and uncertainties
could cause actual results to differ materially from those in the
forward-looking statements. Such factors and risks include, but not
limited to the following: uncertainty surrounding management's
ongoing evaluation of any potential restatements to any of the
Company's previously filed financial statements, the types of
errors and adjustments that may be required in any such
restatement, the extent of any material weaknesses or significant
deficiencies in the Company's internal and disclosure controls, how
promptly and thoroughly the recommendations of the Audit Committee
can be implemented, potential legal or regulatory action related to
the matters under Investigation, and adverse decisions by the SEC
or Nasdaq. In addition, the Company faces other risks and
uncertainties that could affect its ability to complete the
restatement of its financial statements, to file its periodic
reports, and to regain compliance with the Nasdaq listing
requirements. Further information regarding these and other risks,
uncertainties or factors is included in Tarena's filings with the
Commission. All information provided in this press release is
current as of the date of the press release, and Tarena does not
undertake any obligation to update such information, except as
required under applicable law.
About Tarena International, Inc.
Tarena International, Inc. (NASDAQ: TEDU) is a leading provider
of professional education services in China. Through its innovative education
platform combining live distance instruction, classroom-based
tutoring and online learning modules, Tarena offers professional
education courses in IT and non-IT subjects. Tarena also offers
K-12 education programs. Its professional education courses provide
students with practical skills to prepare them for jobs in
industries with significant growth potential and strong hiring
demand.
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SOURCE Tarena International, Inc.