China 21st Century Education Restructures Ownership

China 21st Century Education Group Limited (HK:1598) has released an update.

China 21st Century Education Group Limited has announced the termination of existing structured contracts and the initiation of new ones, which will continue to consolidate the financial results of the relevant PRC Operating Entities. The change is part of a strategy to reduce Mr. Li’s role due to health reasons, transferring his 80.625% equity interest in Zerui Education to Ms. Li. The Stock Exchange has granted a waiver for these new contracts, ensuring they are exempt from certain Listing Rules requirements.

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