Four Seasons Education receives noncompliance letter from NYSE

Four Seasons Education (FEDU) announced that it has received a letter from the New York Stock Exchange, notifying the company that it is no longer in compliance with the minimum stockholder requirement for continued listing on NYSE pursuant to Section 802.01 “Continued Listing Criteria” of the NYSE listed company manual, which requires the company to maintain a number of total stockholders of not less than 1,200. In accordance with NYSE listing requirements, the company has 45 calendar days from the receipt of the notice to respond with a business plan that demonstrates compliance with this continued listing standard within 18 months of receipt of the notice. The company is currently evaluating its available options and developing a plan to regain compliance with Section 802.01. The notice has no immediate impact on the listing of the company’s ADSs, which will continue to be listed and traded on the NYSE, subject to compliance with other continued listing requirements of the NYSE. The company is currently in compliance with all other NYSE continued listing standards. The NYSE notification does not affect the company’s business operations or its SEC reporting requirements.