Gelonghui July 15 丨Maple Leaf Education (01317.HK) PublicFabric, related to the acquisitionStar Readers Pte. LtdThe entire issued share capital of... On July 14, 2020, Ren Shuliang andSherman Investment Holdings LimitedA group of closely connected shareholders) held a total of 1,548 million shares, equivalent to about 51.67% of the total number of issued shares authorized to attend and vote at the company's shareholders' meeting on the date of the announcement. They have agreed to give written approval to the acquisition and the transactions to be carried out thereunder after the following conditions have been met: (1) execution of the financing agreements to be entered into by the company and certain lenders for term loan financing; and (2) after all prerequisites contained in the financing agreement have been reached.

Therefore, once the conditions for written approval are met and the written approval becomes unconditional on that basis, it will be accepted in lieu of holding a general meeting of shareholders of the company to approve the terms of the sale agreement and the transactions to be carried out thereunder, in accordance with section 14.44 of the listing rules. For the avoidance of doubt, written approval shall only be made or otherwise effective from the date the last of these conditions is met, and not on any previous date.

According to reports, Star Readers Pte. Ltd. is a limited company incorporated in Singapore (a wholly owned subsidiary of the seller) and an investment holding company. It is the sole shareholder of CIS Pte Ltd. CIS Pte Ltd is a limited company incorporated in Singapore and the operator of CIS. CIS was founded in 1990 and is one of the largest for-profit high-end international schools in Singapore in terms of income and number of students enrolled.