BEIJING, March 18, 2015 /PRNewswire/ -- Xueda
Education Group (NYSE: XUE) ("Xueda" or the "Company"), a leading
national provider of personalized tutoring services for primary and
secondary school students in China, today announced that Mr. Xin Jin, Chief Executive Officer and Co-Founder
of the Company, through his BVI holding company, recently purchased
cumulatively 10,952,850 unregistered ordinary shares (equivalent to
5,476,425 American Depositary Shares ("ADS")) and 1,000,000 ADS of
the Company from CDH Xueda Limited, a British Virgin Islands company ("CDH") and WP
X Investments IV Ltd., an exempted company incorporated under the
laws of the Cayman Islands ("WP"),
the Company's pre-IPO venture capital investors.
The privately negotiated aggregate price paid by Mr. Jin for the
purchases is approximately $15.0
million. Following the purchases, Mr. Jin beneficially owns
approximately 41,132,948 ordinary shares (equivalent to 20,903,290
ADSs), or approximately 33.0% of the Company's total outstanding
shares.
Mr. Jin stated, "As Xueda continues to transform into a
technology-based, personalized tutoring organization, I am fully
confident in the Company's long-term prospects, business strategy
and market position. My purchases of Xueda's ordinary shares
and ADSs demonstrate my confidence in our business and our
commitment to building long-term value for our shareholders."
Concurrent with Mr. Jin's purchases, an individual investor
unrelated to the Company or Mr. Jin, through his BVI holding
company, purchased 10,100,652 unregistered ordinary shares
(equivalent to 5,050,326 ADSs) of the Company from CDH and
beneficially owns approximately 8.1% of the Company's total
outstanding shares. CDH and WP ceased to beneficially own any
ordinary shares or ADSs of the Company upon completion of the above
transactions.
About Xueda Education Group
Xueda Education Group ("Xueda") is a leading national provider
of personalized tutoring services for primary and secondary school
students in China. For more
information about Xueda, please visit http://ir.xueda.com.
Forward-looking Statements
All statements included in this press release, other than
statements or characterizations of historical fact, are
forward-looking statements within the meaning of 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. These
forward-looking statements are based on our current expectations,
market and operating conditions, estimates and projections about
our industry, management's beliefs, and certain assumptions made by
us, all of which are subject to change. Forward-looking statements
can often be identified by words such as "anticipates," "expects,"
"intends," "plans," "predicts," "believes," "seeks," "estimates,"
"may," "will," "should," "would," "could," "potential," "continue,"
"ongoing," "targets" and similar expressions, and variations or
negatives of these words. These forward-looking statements are not
guarantees of future results and are subject to risks and
uncertainties beyond our control, which could cause our actual
results to differ materially and adversely from those expressed in
any forward-looking statement. Further information regarding these
and other risks, uncertainties or factors is included in our
filings with the U.S. Securities and Exchange Commission. We do not
undertake any obligation to update any forward-looking statement as
a result of new information, future events or otherwise, except as
required under applicable law.
Contact:
Xueda Education Group
Ross Warner
Tel: +86-10-6427-8899 ext. 6619
Email: investor_relations@xueda.com
Asia Bridge Capital Limited
Wendy Sun
Tel: +86-10-8556-9033 (China)
+1-888-550-8392 (U.S.)
Email: wendy.sun@asiabridgegroup.com
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SOURCE Xueda Education Group