Hailiang Education Announces Shareholders' Approval of Merger Agreement

HANGZHOU, China, Sept. 15, 2022 /PRNewswire/ -- Hailiang Education Group Inc. ( Nasdaq: HLG), an education and management services provider in China ("Hailiang Education" or the "Company"), today announced that at an extraordinary general meeting of shareholders held today, the Company's shareholders voted in favor of, among other things, the proposal to approve the re-election of five directors of the Company to hold office until the effective time of the Merger (as defined below), and the proposal to authorize and approve the previously announced agreement and plan of merger (the "Merger Agreement"), dated May 7, 2022, by and between the Company, Hailiang Education International Limited, an exempted company with limited liability incorporated under the law of the Cayman Islands ("Parent"), and HE Merger Sub Limited, an exempted company with limited liability incorporated under the law of the Cayman Islands and a wholly owned subsidiary of Parent ("Merger Sub"), the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands (the "Plan of Merger") in order to give effect to the merger of Merger Sub with and into the Company, with the Company continuing as the surviving company and becoming a wholly owned subsidiary of Parent (the "Merger"), and any and all transactions contemplated by the Merger Agreement and the Plan of Merger, including the Merger.

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