BEIJING, July 27, 2017 /PRNewswire/ -- TAL Education Group
("TAL" or the "Company") (NYSE: TAL), a leading K-12 after-school
tutoring services provider in China, today announced that it will change its
American depositary share ("ADS") to Class A common share ("Share")
ratio from one (1) ADS representing two (2) Shares to three (3)
ADSs representing one (1) Share. The Company will file an amendment
to its registration statement on Form F-6 and a registration
statement on Form F-6 (collectively, the "Form F-6") with
the Securities and Exchange
Commission (the "SEC") to reflect the change in the ADS ratio. The
Company anticipates that the change in the ADS ratio will be
effective on August 16, 2017, subject
to the SEC having declared the Form F-6 to be effective on or
before that date.
Holders of TAL ADSs of record as of the close of business on
August 8, 2017 will receive five (5)
additional ADSs for every one ADS held on that date. For TAL's ADS
holders, this ratio change will have the same effect as a 6-for-1
ADS split.
The ADS ratio change will have no impact on TAL's underlying
Shares. Furthermore, no action by ADS holders is required to effect
the ratio change.
About TAL Education Group
TAL Education Group is a leading K-12 after-school tutoring
services provider in China. The
acronym "TAL" stands for "Tomorrow Advancing Life," which reflects
our vision to promote top learning opportunities for Chinese
students through both high-quality teaching and content, as well as
leading edge application of technology in the education experience.
TAL Education Group offers comprehensive tutoring services to
students from pre-school to the twelfth grade through three
flexible class formats: small classes, personalized premium
services, and online courses. Our tutoring services cover the core
academic subjects in China's
school curriculum including mathematics, English, Chinese, physics,
chemistry, and biology. The Company's learning center network
includes 507 physical learning centers as of February 28, 2017, located in 30 key cities in
China: Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin, Wuhan, Xi'an,
Chengdu, Nanjing, Hangzhou, Taiyuan, Zhengzhou, Chongqing, Suzhou, Shenyang, Jinan, Shijiazhuang, Qingdao, Changsha, Luoyang, Nanchang, Ningbo, Wuxi, Fuzhou, Hefei, Changchun, Guiyang, Xiamen, Lanzhou and Dalian. We also operate www.jzb.com, a leading
online education platform in China. Our ADSs trade on the New York Stock
Exchange under the symbol "TAL."
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. Statements that
are not historical facts, including statements about TAL's beliefs
and expectations, are forward-looking statements. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. Forward-looking
statements involve inherent risks and uncertainties. Further
information regarding these and other risks is included in our
annual report on Form 20-F and other documents filed with the SEC.
All information provided in this press release is as of the date of
this press release, and TAL does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
For investor and media inquiries, please contact:
Mei Li
Investor Relations
TAL Education Group
Tel: +86 10 5292 6658
Email: ir@100tal.com
Caroline Straathof
IR Inside
Tel: +31 6 5462 4301
Email: info@irinside.com
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SOURCE TAL Education Group