FOSHAN, China, April 1,
2022 /PRNewswire/ -- Bright Scholar Education
Holdings Limited ("Bright Scholar" or the "Company") (NYSE: BEDU),
a global premier education service company, today announced that it
has received a letter (the "Letter") from the New York Stock
Exchange (the "NYSE") dated March 25,
2022, notifying the Company that it is below compliance
standards due to the trading price of the Company's American
depositary shares (the "ADSs") and that the applicable cure period
for the Company to regain compliance expires on September 26, 2022.
Pursuant to applicable NYSE continued listing standards, a
company would be considered "below criteria" by the NYSE if the
average closing price of a security as reported on the consolidated
tape is less than $1.00 over a
consecutive 30 trading-day period. Once notified, the company must
bring its ADS trading price and average ADS trading price back
above $1.00 within the applicable
cure period following receipt of the notification. The company can
regain compliance at any time during the cure period if on the last
trading day of any calendar month during the cure period the
company has an ADS closing price of at least $1.00 and an average ADS closing price of at
least $1.00 over the 30 trading-day
period ending on the last trading day of that month. In the event
that at the expiration of the cure period, both a $1.00 ADS closing price on the last trading day
of the cure period and a $1.00
average ADS closing price over the 30 trading-day period ending on
the last trading day of the cure period are not attained, the NYSE
will commence suspension and delisting procedures.
To address this issue, the Company intends to monitor the market
conditions of its listed securities and is still considering its
About Bright Scholar Education Holdings Limited
Bright Scholar is a global premier education service company,
which primarily provides quality international education to global
students and equip them with the critical academic foundation and
skillsets necessary to succeed in the pursuit of higher education.
Bright Scholar also complements its international offerings with
Chinese government-mandated curriculum for students who wish to
maintain the option of pursuing higher education in China.
Safe Harbor Statement
This announcement contains 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 can be
identified by terminology such as "may," "will," "expect,"
"anticipate," "aim," "estimate," "intend," "plan," "believe,"
"potential," "continue," "is/are likely to" or other similar
expressions. Such statements are based upon management's current
expectations and current market and operating conditions and relate
to events that involve known or unknown risks, uncertainties and
other factors, all of which are difficult to predict and many of
which are beyond the Company's control, which may cause the
Company's actual results, performance or achievements to differ
materially from those in the forward-looking statements. Further
information regarding these and other risks, uncertainties or
factors is included in the Company's filings with the U.S.
Securities and Exchange Commission. The Company does not undertake
any obligation to update any forward-looking statement as a result
of new information, future events or otherwise, except as required
SOURCE Bright Scholar Education Holdings Ltd.