China liberal education holdings limited receives staff determination notice from nasdaq and plans to appeal

Beijing , may 12, 2025 /prnewswire/ -- china liberal education holdings limited ("china liberal" or the "company") (nasdaq: cleu), a china-based company that provides technological consulting services for smart campus solutions and other educational services, today announced that the company received a staff determination notice (the "staff determination notice") from the listings qualifications department (the "staff") of the nasdaq stock market llc ("nasdaq") on may 7, 2025, notifying the staff's decision pursuant to its discretionary authority under listing rule 5101 to delist the company based on public interest concerns raised by the company's substantial issuance of its ordinary shares ("ordinary shares") in december 2024. specifically, the staff has determined that the company's issuance of certain ordinary shares and warrants pursuant to an investment agreement with certain individual investors (the "purchasers") dated december 23, 2024 (the "private placement") and a warrant exchange agreement with the purchasers dated december 31, 2024, as described in the company's prior sec filings, raises public interest concerns because the issuance resulted in substantial dilution for its shareholders.
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