BEIJING, Feb. 5, 2024
/PRNewswire/ -- China Liberal Education Holdings Limited ("China
Liberal" or the "Company") (Nasdaq: CLEU), a China-based company that provides smart campus
solutions and other educational services, today announced that the
Company received a written notification (the "Notification Letter")
from the Listing Qualifications Department of the Nasdaq Stock
Market LLC ("Nasdaq") on February 2,
2024, informing the Company that it has regained compliance
with the Nasdaq's minimum bid price requirement and the matter is
closed.
On September 26, 2023, the Company
was notified by Nasdaq of its failure to maintain a minimum bid
price of $1.00 per share for 30
consecutive business days under Nasdaq Listing Rules 5550(a)(2) and
5810(c)(3)(A), and was provided 180 calendar days, or until March
25, 2024, to regain compliance. Effective January 19, 2024, the
Company effected a share consolidation of fifteen (15) ordinary
shares with par value of $0.001 per share each in the Company's
issued and unissued share capital into one (1) ordinary share with
par value of US$0.015, which was reflected with Nasdaq and in the
marketplace at the opening of business on January 19, 2024.
The Notification Letter the Company received from Nasdaq on
February 2, 2024 noted that the
Company evidenced a closing bid price of its ordinary shares at or
greater than the $1.00 per share
minimum requirement for the last 10 consecutive business days, from
January 19, 2024 to February 1, 2024. Nasdaq stated that,
accordingly, the Company has regained compliance with Nasdaq
Listing Rule 5550(a)(2).
About China Liberal Education Holdings Limited
China Liberal is an educational services provider headquartered
in Beijing, China. Currently,
China Liberal operates two colleges: Fuzhou Melbourne Polytechnic
and Strait College of Mingjiang University. It provides a wide
range of services, including overseas study consulting and
technological consulting for Chinese universities to improve their
campus information and data management systems. These services are
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
registration statement and in its other filings with the U.S.
Securities and Exchange Commission.
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