ACG Announces Results of Annual General Meeting of Shareholders

Rhea-AI Summary

ATA Creativity Global (AACG) held its Annual General Meeting of Shareholders on December 18, 2020. Shareholders approved all proposals, including the re-election of Andrew Yan and Jun Zhang as class B directors and the re-appointment of KPMG Huazhen LLP as the independent auditor for fiscal year 2020. Additionally, a special resolution was passed to amend the company’s governing documents to facilitate electronic meetings. These steps reflect the company’s commitment to adapt to current trends in shareholder engagement.

Positive

• All proposals at the 2020 AGM were approved.
• Re-appointment of KPMG Huazhen LLP ensures continuity in auditing.
• Amendments to facilitate electronic meetings may increase shareholder participation.

Negative

• None.

BEIJING, Dec. 18, 2020 (GLOBE NEWSWIRE) -- ATA Creativity Global (“ACG” or the “Company”, Nasdaq: AACG), an international educational services company focused on providing quality learning experiences that cultivate and enhance students’ creativity, today announced that its 2020 Annual General Meeting of Shareholders (“AGM”) was held on Friday, December 18, 2020.

All of the proposals submitted to shareholders at the 2020 AGM were approved. Specifically, shareholders approved:

1. Re-election of Andrew Yan and Jun Zhang to serve as class B directors of the Company.
   
   
2. Re-appointment of KPMG Huazhen LLP as the Company’s independent auditor for the fiscal year ending December 31, 2020, and authorization to the board of directors of the Company and its audit committee to determine the remuneration of KPMG Huazhen LLP.
   
   
3. AS A SPECIAL RESOLUTION, the existing Third Amended and Restated Memorandum and Articles of Association of the Company be and are hereby amended and restated and replaced in their entirety with a new Fourth Amended and Restated Memorandum and Articles of Association to permit completely electronic and partly electronic and partly physical shareholders’ meetings and make certain updates and editorial changes as detailed in the proxy statement and set forth in the Form 6-K filed on December 18, 2020.

About ATA Creativity Global

ATA Creativity Global is an international educational services company focused on providing quality learning experiences that cultivate and enhance students’ creativity. ATA Creativity Global offers a wide range of education services consisting primarily of portfolio training, educational travel, overseas study counseling and other educational services through its training center network. For more information, please visit ACG’s website at www.atai.net.cn.

For more information on our company, please contact the following individuals:

At the Company	Investor Relations
ATA Creativity Global	The Equity Group Inc.
Amy Tung, Chief Financial Officer	Carolyne Y. Sohn, Vice President
+86 10 6518 1133 x5518	415-568-2255
amytung@acgedu.cn	csohn@equityny.com
	Adam Prior, Senior Vice President 212-836-9606 aprior@equityny.com

FAQ

What were the outcomes of ATA Creativity Global's 2020 AGM?

All proposals submitted at ATA Creativity Global's 2020 AGM were approved, including director re-elections and auditor re-appointments.

Who were re-elected at the 2020 AGM of ATA Creativity Global?

Andrew Yan and Jun Zhang were re-elected as class B directors at the 2020 AGM.

Which auditor was re-appointed for ATA Creativity Global in 2020?

KPMG Huazhen LLP was re-appointed as the independent auditor for ATA Creativity Global for the fiscal year ending December 31, 2020.

What amendments were made to ATA Creativity Global's Memorandum and Articles of Association?

The amendments permit completely electronic and partly electronic shareholder meetings and include editorial updates.