BEIJING, April 20,
2022 /PRNewswire/ -- RYB Education, Inc.
("RYB" or the "Company") (NYSE: RYB), a leading early childhood
education service provider in China, today announced that, it has received a
letter from the New York Stock Exchange (the "NYSE") dated
April 19, 2022, notifying RYB that it
is below compliance criteria in connection with the performance of
trading price of RYB's American depositary shares (the "ADSs").
Pursuant to NYSE rule 802.01C, a company will be considered to
be below compliance criteria if the average closing price of a
security as reported on the consolidated tape is less than
US$1.00 over a consecutive 30
trading-day period. Following receipt of the notification, the
company must bring its share price and average share price back
above US$1.00 within six months.
The company can regain compliance at any time during the
six-month cure period if on the last trading day of any calendar
month during the cure period the company has a closing share price
of at least US$1.00 and an average
closing share price of at least US$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 six-month cure period, both a US$1.00 closing share price on the last trading
day of the cure period and a US$1.00
average closing share 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
options.
Safe Harbor Statement
This announcement contains forward-looking statements. These
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," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements.
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. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: the
Company's brand recognition and market reputation; the Company's
growth strategies; trends and competition in China's early childhood education market;
changes in its revenues and certain cost or expense items; the
expected growth of the Chinese early childhood education market;
Chinese governmental policies relating to the Company's industry
and general economic conditions in China. Further information regarding these and
other risks is included in the Company's filings with the SEC. All
information provided in this press release and in the attachments
is as of the date of this press release, and the Company undertakes
no obligation to update any forward-looking statement, except as
required under applicable law.
About RYB Education, Inc.
Founded on the core values of "Care" and "Responsibility,"
"Inspire" and "Innovate," RYB Education, Inc. is a leading early
childhood education service provider in China. Since opening its first play-and-learn
center in 1998, the Company has grown and flourished with the
mission to provide high-quality, individualized and age-appropriate
care and education to nurture and inspire each child for his or her
betterment in life. During its two decades of operating history,
the Company has built "RYB" into a well-recognized education brand
and helped bring about many new educational practices in
China's early childhood education
industry. RYB's comprehensive early childhood education solutions
meet the needs of children from infancy to 6 years old through
structured courses at kindergartens and play-and-learn centers, as
well as at-home educational products and services.
For more information, please visit http://ir.rybbaby.com.
For investor and media inquiries, please contact:
In China:
RYB
Education, Inc.
Investor Relations
E-mail: ir@rybbaby.com
The Piacente Group, Inc.
Yang Song
Tel: +86 (10) 6508-0677
E-mail: ryb@tpg-ir.com
In the United
States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: ryb@tpg-ir.com
View original
content:https://www.prnewswire.com/news-releases/ryb-education-inc-announces-receipt-of-nyse-non-compliance-letter-regarding-ads-trading-price-301528801.html
SOURCE RYB Education, Inc.