BEIJING, Oct. 4, 2022 /PRNewswire/ — Gravitas Education Holdings, Inc. (NYSE: GEHI) (“GEHI” or the “Company”), a number one early childhood schooling service supplier in China, at the moment introduced that it’ll change the ratio of its American Depositary Shares (“ADS(s)”) to Class A odd shares (“Share(s)”) from one (1) ADS representing one (1) Share to at least one (1) ADS representing twenty (20) Shares, efficient October , 2022 (the “ADS Ratio Change”).
For the Company’s ADS holders, the change within the ADS ratio may have the identical impact as a one-for-twenty reverse ADS cut up. Effective October 14, 2022, registered holders of ADS of the Company will likely be required on a compulsory foundation to give up their previous ADSs to the depositary financial institution for cancellation and can obtain one (1) new ADS in trade for each twenty (20) previous ADSs then-held. Holders within the Direct Registration System and within the Depository Trust Company may have their ADSs routinely exchanged and needn’t take any motion. No fractional new ADSs will likely be issued in reference to the ADS Ratio Change. Instead, fractional entitlements to new ADSs will likely be aggregated and bought by the depositary financial institution and the online money proceeds from the sale of the fractional ADS entitlements (after deduction of charges, taxes and bills) will distributed to the relevant ADS holders by the depositary financial institution. The ADS Ratio Change may have no affect on the Company’s underlying odd shares.
About Gravitas Education Holdings, Inc.
Founded on the core values of “Care” and “Responsibility,” “Inspire” and “Innovate,” Gravitas Education Holdings, Inc. (previously generally known as RYB Education, Inc.) is a number one early childhood schooling service supplier in China. Since opening its first play-and-learn middle in 1998, the Company has grown and flourished with the mission to offer high-quality, individualized and age-appropriate care and schooling to nurture and encourage every baby for his or her betterment in life. During its twenty years of working historical past, the Company has constructed itself right into a well-recognized schooling model and helped result in many new academic practices in China’s early childhood schooling business. GEHI’s complete early childhood schooling options meet the wants of kids from infancy to six years previous by way of structured programs at kindergartens and play-and-learn facilities, in addition to at-home academic services and products.
Safe Harbor Statement
This announcement accommodates forward-looking statements. These statements are made beneath the “secure harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements could be recognized by terminology similar to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “assured” and related statements. Statements that aren’t historic info, together with statements concerning the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements contain inherent dangers and uncertainties. Numerous elements might trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: the Company’s model recognition and market popularity; scholar enrollment within the Company’s instructing services; the Company’s progress methods; its future enterprise improvement, outcomes of operations and monetary situation; developments and competitors in China’s early childhood schooling market; adjustments in its revenues and sure value or expense objects; the anticipated progress of the Chinese early childhood schooling market; Chinese governmental insurance policies regarding the Company’s business and basic financial circumstances in China. Further data concerning these and different dangers is included within the Company’s filings with the SEC. All data supplied on this press launch and within the attachments is as of the date of this press launch, and the Company undertakes no obligation to replace any forward-looking assertion, besides as required beneath relevant regulation.
SOURCE Gravitas Education Holdings Inc.
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