It is hoped that Education (01765) will issue an announcement on the acquisition of 100% stake in Shuanglin Education. Due to the adjustment of the company's planning, Sichuan hopes to terminate the acquisition after fair consultation and careful consideration with special driver Lin Jia. On July 21, 2023, Sichuan Hope and Special driver Lin Jia entered into a termination agreement to terminate the acquisition, effective immediately. According to the termination agreement, special drive Lin Jia hopes to return all the paid price to Sichuan. Sichuan hopes that it has jointly agreed with Tetchu Lin Jia to relieve and relieve each other of their related responsibilities under the Shuanglin Education Equity transfer Agreement.
The board of directors is of the view that the termination of the acquisition will not have a significant adverse impact on the company's existing business, operation and financial position.