{"id":792491,"date":"2024-12-04T15:44:45","date_gmt":"2024-12-04T20:44:45","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/correction-notice-of-press-release-announcing-wah-fu-education-group-ltd-to-hold-annual-general-meeting-on-december-20-2024\/"},"modified":"2024-12-04T15:44:45","modified_gmt":"2024-12-04T20:44:45","slug":"correction-notice-of-press-release-announcing-wah-fu-education-group-ltd-to-hold-annual-general-meeting-on-december-20-2024","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/correction-notice-of-press-release-announcing-wah-fu-education-group-ltd-to-hold-annual-general-meeting-on-december-20-2024\/","title":{"rendered":"Correction Notice Of Press Release Announcing Wah Fu Education Group Ltd. to Hold Annual General Meeting on December 20, 2024"},"content":{"rendered":"
\n

Beijing, China, Dec. 04, 2024 (GLOBE NEWSWIRE) — Wah Fu Education Group Ltd. (NASDAQ: WAFU, the \u201cCompany<\/strong>\u201d) today announced corrections to its press release sent out on December 2, 2024.<\/p>\n

Holders of record of the Company\u2019s ordinary shares of par value US $0.01 each on the close of business on November\u00a021, 2024, Eastern Standard Time (the \u201cRecord Date<\/strong>\u201d) or their proxy holders are entitled to vote at the AGM or any adjournment or postponements thereof. Each holder of ordinary shares has one (1) vote for each ordinary share held as of the close of business on the Record Date.<\/p>\n

Under the existing memorandum and articles of association of the Company, a resolution of shareholders may be passed by the affirmative vote of a majority of in excess of 50% of the votes of the shares entitled to vote thereon which were present at the meeting and were voted.<\/p>\n

In the release dated December 2, 2024, the following paragraph reads:<\/u><\/b><\/p>\n

\u201cThe Company proposes to amend and restate the existing memorandum and articles of association registered with the Registry of Corporate Affairs in the British Virgin Islands to adopt a dual-class\u00a0share structure (the \u201c<\/i>Dual-class\u00a0Share Structure<\/i><\/strong>\u201d), pursuant to which the Company will create a new class of shares and the Company\u2019s issued ordinary shares of US$0.01 par value each shall be re-designated\u00a0into (i) ordinary shares of US$0.0005 par value each (\u201c<\/i>Ordinary Share<\/i><\/strong>\u201d), and (ii) class A ordinary shares of US$0.0005 par value each (\u201c<\/i>Class A Shares<\/i><\/strong>\u201d), with each Ordinary Share being entitled to one (1) vote and each Class A Share being entitled to fifteen (15) votes on all matters subject to vote at general meetings of the Company.\u201d<\/i><\/p>\n

Is corrected to read as follows:<\/u><\/b><\/p>\n

The Company proposes to amend and restate the existing memorandum and articles of association currently registered with the Registry of Corporate Affairs in the British Virgin Islands to adopt a dual-class share structure (the \u201cDual-class Share Structure\u201d), pursuant to which the Company will create a new class of shares of class A ordinary shares (the \u201cClass A Shares\u201d), with each ordinary share (the \u201cOrdinary Shares\u201d) being entitled to one (1) vote and each Class A Share being entitled to fifteen (15) votes on all matters subject to vote at general meetings of the Company.<\/p>\n

In connection with the Dual-class\u00a0Share Structure, the Company proposes to:<\/p>\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n(a)<\/td>\nIn the release dated December 2, 2024, the following paragraph reads:<\/strong>

\u201ccreate a new class of shares and change the maximum number of shares that the Company is authorised to issue from 30,000,000 ordinary shares of US$0.01 par value each to 600,000,000 shares divided into 500,000,000 Ordinary Shares with a par value of US$0.0005 each and 100,000,000 Class A Shares with a par value of US$0.0005 (the \u201cChange in Authorised Shares<\/strong>\u201d);\u201d
<\/em>
Is corrected to read as follows:<\/strong><\/p>\n

create a new class of shares and change the maximum number of shares that the Company is authorised to issue from 30,000,000 ordinary shares to 600,000,000 shares divided into 500,000,000 Ordinary Shares and 100,000,000 Class A Shares (the \u201cChange in Authorised Shares<\/strong>\u201d);<\/td>\n<\/tr>\n

\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n(b)<\/td>\namend and restate its existing memorandum and articles of association registered with the Registrar or Corporate Affairs in the British Virgin Islands to include, amongst other things:<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n(i)<\/td>\nthe creation of a new class of Class A Shares with each Class A Share being entitled to fifteen (15) votes on all matters subject to vote at general meetings of the Company; and<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n(ii)<\/td>\nIn the release dated December 2, 2024, the following paragraph reads:<\/strong><\/p>\n

the following provision: \u201cNotwithstanding any other provision of these Articles, each Class A Share shall be automatically converted into an Ordinary Share immediately upon the holders of Class A Shares in aggregate beneficially owning less than 1,488,000 Class A Shares, which is equivalent to 5% of the total issued and outstanding Class A Shares as of the date of registration of these Memorandum and Articles<\/em>.\u201d; and<\/p>\n

Is corrected to read as follows:<\/strong>

the following provision: \u201cNotwithstanding any other provision of these Articles, each Class A Share shall be automatically converted into an Ordinary Share immediately upon the holders of Class A Shares in aggregate beneficially owning less than 74,400 Class A Shares, which is equivalent to 5% of the total issued and outstanding Class A Shares as of the date of registration of these Memorandum and Articles.\u201d; and<\/em><\/td>\n<\/tr>\n

\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n(c)<\/td>\nIn the release dated December 2, 2024, the following paragraph shall be deleted in its entirely:<\/strong>

conduct a division of shares by which each issued ordinary share of US$0.01 par value each in the Company would be divided into a larger number of Ordinary Shares of US$0.0005 par value each resulting in every one currently issued ordinary share being divided into 20 Ordinary Shares.<\/em><\/td>\n<\/tr>\n<\/table>\n

The notice of the AGM sets forth the resolutions to be submitted to shareholders of the Company for approval and other relevant information regarding the AGM, the proposed Dual-class Share Structure and how to vote ordinary shares or direct Deutsche Bank Trust Company Americas to vote the ordinary shares represented by the ADSs at the AGM. Shareholders may obtain a copy of the Company\u2019s annual report on Form 20-F, free of charge on the Company\u2019s Investor Relations website at\u00a0www.edu-edu.cn<\/a><\/em>, or on the website of U.S. Securities and Exchange Commission at\u00a0http:\/\/www.sec.gov<\/a><\/em>. Physical copies of the annual report on Form 20-F can be provided to shareholders of the Company without charge by emailing Wah Fu Education Group Ltd., at ir@edu-edu.com.cn<\/a> or by writing to:<\/p>\n

L207b, Hesheng Fortune Plaza
No.13 Deshengmenwai Street
Xicheng District, Beijing, China 100088
Attention: Raincy Du<\/p>\n

INVESTORS AND SHAREHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE MATERIALS FILED WITH OR FURNISHED TO THE U.S.\u00a0SECURITIES AND EXCHANGE COMMISSION, AS THEY CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE\u00a0DUAL-CLASS\u00a0SHARE STRUCTURE AND RELATED MATTERS.<\/strong><\/p>\n

About Wah Fu Education Group Ltd.<\/strong><\/p>\n

Since its establishment in 1999, Wah Fu Education Group Ltd. (\u201cWah Fu<\/strong>\u201d) has been committed to providing customized and diversified education solutions for the development of students, institutions and universities. Wah Fu continues to innovate in self-taught\u00a0examinations for higher academic degrees, information application in adult education, non-degree\u00a0training and other online educational programs. Wah Fu has become one of the most influential brand of distance education for adults in China. For more information about Wah Fu, please visit\u00a0www.edu-edu.cn<\/a><\/em>.<\/p>\n

Investor Relations Contact<\/strong><\/p>\n

For Wah Fu:<\/em><\/p>\n

Raincy Du
ir@edu-edu.com.cn<\/a><\/p>\n

Investor Relations:<\/em><\/p>\n

Haining Wang
Fair Consulting LLC
Email:\u00a0info@fairconsulting.co<\/a>m<\/u>
Phone: +1-646-752-9774(US) \/+86-136-8536-8593(China)<\/p>\n

<\/p>\n

\n<\/div>\n

\"\"
\"\"<\/div>\n

\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Beijing, China, Dec. 04, 2024 (GLOBE NEWSWIRE) — Wah Fu Education Group Ltd. (NASDAQ: WAFU, the \u201cCompany\u201d) today announced corrections to its press release sent out on December 2, 2024. Holders of record of the Company\u2019s ordinary shares of par value US $0.01 each on the close of business on November\u00a021, 2024, Eastern Standard Time (the \u201cRecord Date\u201d) or their proxy holders are entitled to vote at the AGM or any adjournment or postponements thereof. Each holder of ordinary shares has one (1) vote for each ordinary share held as of the close of business on the Record Date. Under the existing memorandum and articles of association of the Company, a resolution of shareholders may be passed by the affirmative … <\/p>\n

Continue reading “Correction Notice Of Press Release Announcing Wah Fu Education Group Ltd. to Hold Annual General Meeting on December 20, 2024”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-792491","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCorrection Notice Of Press Release Announcing Wah Fu Education Group Ltd. to Hold Annual General Meeting on December 20, 2024 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/correction-notice-of-press-release-announcing-wah-fu-education-group-ltd-to-hold-annual-general-meeting-on-december-20-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Correction Notice Of Press Release Announcing Wah Fu Education Group Ltd. to Hold Annual General Meeting on December 20, 2024 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Beijing, China, Dec. 04, 2024 (GLOBE NEWSWIRE) — Wah Fu Education Group Ltd. (NASDAQ: WAFU, the \u201cCompany\u201d) today announced corrections to its press release sent out on December 2, 2024. Holders of record of the Company\u2019s ordinary shares of par value US $0.01 each on the close of business on November\u00a021, 2024, Eastern Standard Time (the \u201cRecord Date\u201d) or their proxy holders are entitled to vote at the AGM or any adjournment or postponements thereof. Each holder of ordinary shares has one (1) vote for each ordinary share held as of the close of business on the Record Date. 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(NASDAQ: WAFU, the \u201cCompany\u201d) today announced corrections to its press release sent out on December 2, 2024. Holders of record of the Company\u2019s ordinary shares of par value US $0.01 each on the close of business on November\u00a021, 2024, Eastern Standard Time (the \u201cRecord Date\u201d) or their proxy holders are entitled to vote at the AGM or any adjournment or postponements thereof. Each holder of ordinary shares has one (1) vote for each ordinary share held as of the close of business on the Record Date. Under the existing memorandum and articles of association of the Company, a resolution of shareholders may be passed by the affirmative … Continue reading \"Correction Notice Of Press Release Announcing Wah Fu Education Group Ltd. to Hold Annual General Meeting on December 20, 2024\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/correction-notice-of-press-release-announcing-wah-fu-education-group-ltd-to-hold-annual-general-meeting-on-december-20-2024\/","og_site_name":"Market Newsdesk","article_published_time":"2024-12-04T20:44:45+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTMxNDM2NCM2NjIzNTk0IzUwMDA2NTY4Ng==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/correction-notice-of-press-release-announcing-wah-fu-education-group-ltd-to-hold-annual-general-meeting-on-december-20-2024\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/correction-notice-of-press-release-announcing-wah-fu-education-group-ltd-to-hold-annual-general-meeting-on-december-20-2024\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Correction Notice Of Press Release Announcing Wah Fu Education Group Ltd. to Hold Annual General Meeting on December 20, 2024","datePublished":"2024-12-04T20:44:45+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/correction-notice-of-press-release-announcing-wah-fu-education-group-ltd-to-hold-annual-general-meeting-on-december-20-2024\/"},"wordCount":1081,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/correction-notice-of-press-release-announcing-wah-fu-education-group-ltd-to-hold-annual-general-meeting-on-december-20-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTMxNDM2NCM2NjIzNTk0IzUwMDA2NTY4Ng==","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/correction-notice-of-press-release-announcing-wah-fu-education-group-ltd-to-hold-annual-general-meeting-on-december-20-2024\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/correction-notice-of-press-release-announcing-wah-fu-education-group-ltd-to-hold-annual-general-meeting-on-december-20-2024\/","name":"Correction Notice Of Press Release Announcing Wah Fu Education Group Ltd. to Hold Annual General Meeting on December 20, 2024 - 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