BEIJING, July 29, 2020 /PRNewswire/ -- China Distance
Education Holdings Limited (NYSE: DL) ("CDEL," or the "Company"), a
leading provider of online education and value-added services for
professionals and corporate clients in China, today announced that the special
committee (the "Special Committee") of the board of directors
of the Company (the "Board") formed to review and evaluate the
previously-announced non-binding "going private" proposal (the
"Proposal") that the Board received on June
8, 2020 from Mr. Zhengdong
Zhu, the Company's chairman of the Board and chief executive
officer; Ms. Baohong Yin, the
Company's deputy chairman of the Board and the spouse of
Mr. Zhu; and their affiliated entity (collectively, the "Buyer
Group") has retained Duff & Phelps, LLC as the Special
Committee's financial advisor in connection with its review and
evaluation of the Proposal.
The Company cautions its shareholders and others considering
trading in its securities that neither the Board nor the Special
Committee has made any decision with respect to the Company's
response to the Proposal. There can be no assurance that any
definitive offer will be made, that any agreement will be executed
or that this or any other transaction will be approved or
consummated. The Company does not undertake any obligation to
provide any updates with respect to this or any other transaction,
except as required under applicable law.
About China Distance Education Holdings Limited
China Distance Education Holdings Limited is a leading provider
of online education and value-added services for professionals and
corporate clients in China. The
courses offered by the Company through its websites are designed to
help professionals seeking to obtain and maintain professional
licenses and to enhance their job skills through our professional
development courses in China in
the areas of accounting, healthcare, engineering &
construction, legal and other industries. The Company also offers
online test preparation courses for self-taught learners pursuing
higher education diplomas or degrees, and practical accounting
training courses for college students and working professionals. In
addition, the Company provides business services to corporate
clients, including but not limited to tax advisory and accounting
outsourcing services. For further information, please visit
http://ir.cdeledu.com.
Safe Harbor Statements
This announcement may contain forward-looking statements. Any
such statements are made under the "safe harbor" provisions of the
U.S. Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "may," "should," "potential," "continue," "expect,"
"predict," "anticipate," "future," "intend," "plan," "believe,"
"is/are likely to," "estimate" and similar statements. The Company
may also make written or oral forward-looking statements in its
periodic and annual reports to the Securities Exchange and
Commission, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about the Company's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. There can be no assurance that
the Buyer Group will make any definitive offer to the Company, that
any definitive agreement relating to the Proposal will be entered
into between the Company and the Buyer Group or that a transaction
based on the Proposal or any other similar transaction will be
approved or consummated.
Contacts:
In China:
China Distance Education Holdings Limited
Jiao Jiao
Tel: +86-10-8231-9999 ext. 1826
Email: IR@cdeledu.com
The Piacente Group, Inc.
Xi Zhang
Tel: +86-10-6508-0677
E-mail: dl@tpg-ir.com
In the United
States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1 212-481-2050
Email: dl@tpg-ir.com
View original
content:http://www.prnewswire.com/news-releases/cdel-announces-special-committees-appointment-of-independent-financial-advisor-301101840.html
SOURCE China Distance Education Holdings Ltd.