BEIJING - China Liberal Education Holdings Limited (NASDAQ:CLEU), a provider of educational services and technological consulting for smart campus solutions, has declared a share consolidation initiative. The company's plan involves consolidating fifteen ordinary shares, each with a par value of $0.015, into one ordinary share with a new par value of $0.225. This consolidation is set to take effect on December 24, 2024. According to InvestingPro data, CLEU's stock has experienced significant volatility, with a 93% decline year-to-date and currently trades at $0.19, near its 52-week low of $0.17.
Once the Share Consolidation is in effect, the Company’s ordinary shares will trade on the Nasdaq Capital Market under the same ticker symbol "CLEU," but will be assigned a new CUSIP number G2161Y125. Shareholders need not take any action as the consolidation of shares will occur automatically. Fractional shares will not be issued; instead, they will be rounded up to the nearest whole number.
The approved consolidation will also adjust the company's authorized share capital to $225,000,000, divided into 1,000,000,000 ordinary shares at $0.225 par value each.
China Liberal Education Holdings Limited is headquartered in Beijing and offers a range of services aimed at enhancing the educational environment in Chinese universities through smart campus solutions. These include improvements to campus information and data management systems and job readiness training for graduates.
The company's press release contains forward-looking statements, which are based on current company expectations and projections about future events. These statements are subject to various risks and uncertainties that could cause actual company performance to differ materially from those predicted. The company emphasizes that these forward-looking statements are not guarantees of future performance and advises investors to consider the risk factors that may impact future results, as detailed in the company's most recent annual report on Form 20-F and other filings with the SEC.
The information for this article is based on a press release statement from China Liberal Education Holdings Limited.
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