China Liberal Announces Results of Annual General Meeting of Shareholders for Fiscal Year 2021

Rhea-AI Summary

China Liberal Education Holdings Limited (Nasdaq:CLEU) held its 2021 Annual General Meeting of Shareholders on October 18, 2021, where several key decisions were made. Shareholders re-elected five directors, confirmed the appointment of Friedman LLP as their independent auditor for the fiscal year ending December 31, 2021, and adopted the Company’s annual accounts. Furthermore, the shareholders allocated net income for the fiscal year ended December 31, 2020, to general corporate purposes and approved the 2021 Share Incentive Plan.

Positive

• Re-election of five directors indicates stability in leadership.
• Appointment of Friedman LLP as the independent auditor may enhance credibility.
• Adoption of the 2021 Share Incentive Plan could boost employee motivation.

Negative

• None.

BEIJING, Oct. 19, 2021 /PRNewswire/ -- China Liberal Education Holdings Limited (Nasdaq: CLEU) ("China Liberal", the "Company", or "we"), a China-based company that provides smart campus solutions and other educational services, today announced the results of the Company's 2021 Annual General Meeting of Shareholders ("AGM") held on October 18, 2021, at 9:30 a.m. local time in Beijing, China.

At the AGM, the Company's shareholders:

1. re-elected Ngai Ngai Lam, Nan Hu, Alison Tsang, Wandong Chen, and Xinyu Deng as directors of the Company to hold office until the next annual general meeting;
2. approved, ratified, and confirmed the appointment of Friedman LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2021, and authorized the audit committee of the board of directors of the Company to fix its remuneration;
3. adopted the Company's annual accounts;
4. allocated the Company's net income for the fiscal year ended December 31, 2020 to general corporate purposes; and
5. adopted the 2021 Share Incentive Plan of the Company.

About China Liberal Education Holdings Limited

China Liberal, headquartered in Beijing, is an educational services provider in China. It provides a wide range of services, including those under Sino-foreign jointly managed academic programs; overseas study consulting services; technological consulting services for Chinese universities to improve their campus information and data management system and to optimize their teaching, operating and management environment, creating a "smart campus"; and tailored job readiness training to graduating students. For more information, visit the company's website at ir.chinaliberal.com.

Forward-Looking Statements

This document contains forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review risk factors that may affect its future results in the Company's registration statement and in its other filings with the U.S. Securities and Exchange Commission.

Investor Relations Contact

China Liberal Education Holdings Limited
Email:ir@chinaliberal.com

Ascent Investor Relations LLC
Ms. Tina Xiao
Email:tina.xiao@ascent-ir.com 
Tel: +1 917 609 0333

View original content:https://www.prnewswire.com/news-releases/china-liberal-announces-results-of-annual-general-meeting-of-shareholders-for-fiscal-year-2021-301403037.html

SOURCE China Liberal Education Holdings Limited

FAQ

What were the key outcomes of China Liberal's 2021 AGM?

At China's 2021 AGM, shareholders re-elected five directors, confirmed Friedman LLP as the auditor, adopted annual accounts, allocated net income, and approved the 2021 Share Incentive Plan.

What is the significance of the 2021 Share Incentive Plan for CLEU?

The 2021 Share Incentive Plan aims to motivate employees and align their interests with those of shareholders, potentially enhancing company performance.

Who were re-elected as directors during the AGM of CLEU?

Directors re-elected during CLEU's AGM include Ngai Ngai Lam, Nan Hu, Alison Tsang, Wandong Chen, and Xinyu Deng.

When was the annual general meeting held for China Liberal Education Holdings Limited?

The annual general meeting for China Liberal Education Holdings Limited was held on October 18, 2021.