New Oriental Education and Technology Group Inc. | March 28, 2022
New Oriental Education & Technology Group Inc. ("New Oriental" or the "Company") (NYSE: EDU and SEHK: 9901), a provider of private educational services in China, today announced that it plans to change the ratio of its American Depositary Shares ("ADSs") to its common shares (the "ADS Ratio"), par value US$0.001 per share, from the current ADS Ratio of one (1) ADS to one (1) common share to a new ADS Ratio of one (1) ADS to ten (10) common shares. A post-effective amendment to the ADS Registration Statement on Form F-6 will be filed with the SEC to reflect the change in the ADS Ratio. The Company anticipates that the change in the ADS Ratio will be effective on or about April 8, 2022, subject to the effectiveness of the post-effective amendment to the ADS Registration Statement on Form F-6 on or before that date.
For New Oriental's ADS holders, the change in the ADS Ratio will have the same effect as a one-for-ten reverse ADS split. Each ADS holder of record at the close of business on the date when the change in ADS Ratio is effective will be required to surrender and exchange every ten (10) existing ADSs then held for one (1) new ADS. Deutsche Bank Trust Company Americas, as the depositary bank for New Oriental's ADS program, will arrange for the exchange of the current ADSs for the new ones. New Oriental's ADSs will continue to be traded on the New York Stock Exchange under the symbol "EDU."
No fractional new ADSs will be issued in connection with the change in the ADS Ratio. Instead, fractional entitlements to new ADSs will be aggregated and sold by the depositary bank and the net cash proceeds from the sale of the fractional ADS entitlements (after deduction of fees, taxes and expenses) will be distributed to the applicable ADS holders by the depositary bank. The change in the ADS Ratio will have no impact on New Oriental's underlying common shares, and no common shares will be issued or cancelled in connection with the change in the ADS Ratio.
As a result of the change in the ADS Ratio, the ADS trading price is expected to increase proportionally, although the Company can give no assurance that the ADS trading price after the change in the ADS Ratio will be equal to or greater than ten times the ADS trading price before the change.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. New Oriental may also make written or oral forward-looking statements in its reports filed or furnished to the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about New Oriental's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: our ability to attract students without a significant decrease in course fees; our ability to continue to hire, train and retain qualified teachers; our ability to maintain and enhance our "New Oriental" brand; our ability to effectively and efficiently manage the changes of our school network and successfully execute our strategy; the outcome of ongoing, or any future, litigation or arbitration, including those relating to copyright and other intellectual property rights; competition in the private education sector in China; changes in our revenues and certain cost or expense items as a percentage of our revenues; the expected changes of the Chinese private education market; Chinese governmental policies relating to private educational services and providers of such services; health epidemics and other outbreaks in China; and general economic conditions in China. Further information regarding these and other risks is included in our annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. New Oriental does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of this press release, and New Oriental undertakes no duty to update such information, except as required under applicable law.
About New Oriental
New Oriental is a provider of private educational services in China offering a wide range of educational programs, services and products to a varied student population throughout China. New Oriental's program, service and product offerings mainly consist of test preparation, language training for adults, education materials and distribution, online education, and other services. New Oriental is listed on NYSE (NYSE: EDU) and SEHK (9901.SEHK), respectively. New Oriental's ADSs, each of which represents one common share. The Hong Kong-listed shares are fully fungible with the ADSs listed on NYSE.
Draganfly Inc | December 24, 2021
Draganfly Inc. (“Draganfly'' or the “Company”), an award-winning, industry-leading drone solutions and systems developer, is pleased to announce an expansion of the DRL Academy STEM program in partnership with the Drone Racing League (“DRL”), the world’s premier, professional drone racing property, Steve Wozniak’s Woz Ed, the leader in demand-driven K-12 education and Imagine Learning’s Robotify, a virtual platform that teaches students about coding using robots.
Together, these leaders in technology and education will inspire the next generation of innovators through an immersive and interactive Science of Drone Racing curriculum, debuting for middle school students in 2022.
This announcement is the evolution of Draganfly’s initial agreement and work with Woz ED which provided for an exclusive partnership bringing additional product development to Draganfly’s current and future pipeline in addition to re-imagining the future of innovation for drone technologies.
According to AUVSI, the United States is expected to add approximately 100,000 new jobs by 2025 through the integration of Unmanned Aircraft Systems into in the National Airspace System. Investing in a technology-talent pipeline is crucial for companies to remain competitive.
The Science of Drone Racing program will spark students’ creativity, critical thinking and collaboration through hands-on and virtual learning experiences that demonstrate career-pathing opportunities within the drone space.
“We’ve been educating students through interactive drone kits for years now, and the number one request we get from schools is to make a racing drone kit,” said Steve Wozniak, founder of Woz ED. “The Drone Racing League has a tremendous influence on young sports fans and future tech innovators, and we’re excited to team up to create a drone racing curriculum that ensures learners are job-ready for the most in-demand tech sector openings.”
The Science of Drone Racing course will teach kids how to fly and build racing drones through physical kits and code drones through esports-style programming competitions. Students will also watch professional pilots compete during exclusive DRL Season viewing parties.
“With decades of experience in aviation, robotics and engineering, Draganfly is thrilled to be supporting DRL’s game-changing Science of Drone Racing curriculum with Woz Ed and Robotify. We’re excited to inspire the next generation of STEM leaders at the middle school level.”
Cameron Chell, CEO of Draganfly
Draganfly recently joined DRL as a founding partner of DRL Labs, an innovation hub to research and develop groundbreaking drone technology that will advance the cutting-edge sport of high-speed drone racing and other industries undergoing significant transformations through drones, including humanitarian aid and mobility.
“We are thrilled to expand our partnership with Draganfly and team up with Woz Ed and Robotify to inspire students for a lifetime through exhilarating and educational drone racing courses. We look forward to partnering with top companies and philanthropic organizations to help kids discover new passions and career opportunities in tech and science while shaping the industry to be more diverse and inclusive,” said DRL President Rachel Jacobson.
To date, Woz Ed and Robotify have enabled millions of students to learn new skills in STEM-related fields. They recently aligned to provide cost-effective, accessible and equitable robotics-based educational experiences to schools around the globe.
“Robotify’s goal is to empower all kids to learn coding in an engaging and playful way,” said Imagine Learning’s Robotify CEO Adam Dalton. “For the first time ever, students and fans of the Drone Racing League will be able to learn about the science behind drone racing through a code learning curriculum and virtual racing competitions enabled by the Robotify platform. The mixture of virtual curriculum provided by Robotify, experience and reach provided by DRL, and physical drone kits provided by Woz ED, make this a truly unique and special partnership to inspire millions of young learners.”
Draganfly Inc. is the creator of quality, cutting-edge drone solutions, software and AI systems that revolutionize the way organizations can do business and service their stakeholders. Recognized as being at the forefront of technology for over 20 years, Draganfly is an award-winning, industry-leader serving the public safety, agriculture, industrial inspections, security, mapping and surveying markets. Draganfly is a company driven by passion, ingenuity, and the need to provide efficient solutions and first-class services to its customers around the world with the goal of saving time, money, and lives.
About Drone Racing League
The Drone Racing League (DRL) is an innovative global sports, entertainment and technology property. The best drone pilots in the world fly in the league and millions of fans watch them race on NBC, NBCSN, and Twitter. With groundbreaking technology and immersive, high-speed races through virtual and live events, DRL is creating a new era of sports, combining both esports and real-life competition.
About Imagine Learning’s Robotify
In 2021, Robotify joined Imagine Learning, a PreK-12 digital learning solutions company that ignites breakthroughs by designing forward-thinking solutions at the intersection of people, curricula, and technology to drive student growth. Imagine Learning serves more than 10 million students and partners with more than 7,500 school districts nationwide. Robotify helps the next generation to learn how to control robots and learn how to code. Using Robotify, students have access to the latest and greatest robots without having to ever purchase real hardware. Robotify gives students access to robots and environments that have never been accessible before through a web browser.
About Woz ED
Woz ED is the leader in demand-driven K-12 education. Steve Wozniak, the Founder and inspiration behind Woz ED, recognizes the worldwide need for nurturing an engineering mindset in our young people. Their programs focus on ensuring their learners are job-ready for the most in-demand tech sector openings and provide learners the opportunity to engage in authentic projects to help them understand what work they love and excel at. Woz ED’s lessons are purposefully designed to build an engineering mindset while developing the soft skills employers value. Collaboration, problem-solving, and critical thinking are inherent in every project.
King’s College International School Bangkok | May 30, 2022
Juniper Networks (NYSE: JNPR), a leader in secure, AI-driven networks, announced that King’s College International School Bangkok (King’s Bangkok), a leading education provider for local and international students, has selected Juniper’s wired, wireless and security solutions to power its campus networking experience. With a secure AI-driven network, the school can provide enhanced teaching and learning experiences for staff and students, especially as onsite learning resumes and enrollment continues to grow.
As the first King’s College School Wimbledon International School in South East Asia, King’s Bangkok’s mission is to become one of Asia’s leading educational institutions. With almost 1,000 students on campus and growing, King’s Bangkok aims to develop independent enquirers by offering individualized care and a variety of experiences designed to help students excel. To deliver on its commitment to providing high-quality, innovative and secure learning for its teachers and students, the school partnered with Juniper to build a robust AI-driven campus network to enable rich and reliable digital learning experiences.
In line with its goal of creating a wireless-first network campus, King’s Bangkok has deployed Juniper Wireless Access Points along with the Juniper Mist Wireless Assurance service, providing staff, students and guests with access to seamless high-speed and reliable connectivity anytime, anywhere. Juniper’s EX3400 and EX2300 Ethernet Switches, as well as the Juniper Mist™ Wired Assurance service, underpin this connectivity by bringing insight into user and device experiences while simplifying the management and operation of the wired network. This helps the school meet the demands for increasing numbers of connected devices and network bandwidth demands as more students access digital learning tools across the campus.
To better support the school’s lean IT team, the Juniper Mist Cloud Services will streamline the deployment and management of King’s Bangkok campus fabric, while Mist AI simplifies operations and improves visibility into the performance of connected devices. This is significant to King’s Bangkok, which could see up to thousands of connected devices from mobile phones to tablets to laptops at once.
The campus is also required to comply with GDPR and PDPA laws from the United Kingdom and Thailand respectively, making data protection the utmost priority. King’s Bangkok places a huge emphasis on safeguarding its students from malicious websites and content. The deployment of Juniper’s SRX1500 Services Gateway will serve as the campus’ perimeter firewall, supporting next-generation firewall capabilities.
With a secure, high-performance network powered by automation and Mist AI, King’s Bangkok has solidified its position as a leading education provider in Thailand, providing students, staff and guests with seamless connectivity around campus.
“Through our partnership with Juniper Networks, King’s Bangkok is able to deliver on our commitment to providing innovative and secure learning experiences for our students and teachers. Our school aims to be forward thinking and Juniper, with its cloud and AI-driven solutions, offers our IT team more flexibility and ensures always-on wireless connectivity throughout the campus. As we anticipate the school’s enrollment to grow over the next few years, we are confident that Juniper has helped us build a scalable network that will only continue to create superior digital learning experiences for Thailand’s brightest minds.”
- Dion Norman, Director of Information Communication Technology, King’s College International School Bangkok
“We are honored that King’s College International School Bangkok has chosen Juniper to deliver a world-class education experience in this vibrant and rapidly developing nation. With AI-driven automation and insight, the school’s IT team can focus on priority tasks allowing for more seamless and cost-effective IT operations. We are confident that our experience-first approach to networking will accelerate the school’s AI-driven enterprise journey, all while ensuring that teachers and students receive the best possible education experience.”
- Perry Sui, Senior Director, ASEAN & Taiwan, Juniper Networks
Juniper Networks is dedicated to dramatically simplifying network operations and driving superior experiences for end users. Our solutions deliver industry-leading insight, automation, security and AI to drive real business results. We believe that powering connections will bring us closer together while empowering us all to solve the world’s greatest challenges of well-being, sustainability and equality. Juniper Networks, the Juniper Networks logo, Juniper, Junos, and other trademarks listed here are registered trademarks of Juniper Networks, Inc. and/or its affiliates in the United States and other countries. Other names may be trademarks of their respective owners.
CORPORATE LEARNING SYSTEMS
Education at Work | March 14, 2022
Education at Work (EAW) and University of Phoenix have announced an agreement that creates an opportunity for University of Phoenix students and alumni to potentially be hired by EAW. The agreement also includes a tuition program for eligible EAW employees seeking degrees at the bachelor’s, master’s, and doctoral level. With this alliance, Education at Work employees may be eligible to receive tuition reimbursement for their degree, allowing them to continue their educational journey and pursue upskilling while maintaining their current employment and career path.
In a tight labor market, collaboration between higher education and training companies offers a strategy to enhance employee education and training opportunities to retain and grow talent.
Education at Work contracts with Fortune 300 technology, financial services, and healthcare organizations to hire students, provide them with a career-ready skill set, and help cover the cost of their education.
“Through our current university partnerships, we have proven the Education at Work experience is a differentiator for university students. Students going through the Education at Work program have higher retention and graduation rates, report higher proficiency in their career skill sets, and are more likely to land that big job post-graduation in comparison to their institutional peers,”
- Scott Blevins, senior vice president of partnerships and growth of Education at Work.
Together, EAW and University of Phoenix’s Workforce Solutions teams identified student profiles who would best fit EAW hiring needs. More than 30 University of Phoenix students have been hired through Education at Work, so far, in 2022.
“In working with the University of Phoenix we are bringing resume-worthy job opportunities to their students across the country. All of us at EAW are thrilled by the caliber of the University of Phoenix students who will surely be top performers for our client programs. We look forward to them graduating from the University of Phoenix and leveraging their EAW skill set to take the next step in their career,”
- Jaime Nunez, president of Education at Work.
The new agreement includes tuition assistance up to $5,250 per calendar year for all EAW employees and program participants. Under the tuition cap of $5,250, participating employees may take up to eight undergraduate courses or five master’s courses or three doctoral courses within a calendar year at no charge. The agreement provides additional savings as the university waives the resource fees for credit-bearing single courses, certificates, associate, bachelor’s, master’s, and doctoral courses for participating employees through program completion.
“With the labor market seeing a great need for skilled workers, we are thrilled to be working with Education at Work to offer employees and program participants the opportunity for higher education, And we are equally excited to bring career opportunities to our eligible students through our work with EAW."
-Raghu Krishnaiah, chief operating officer at University of Phoenix.
The University of Phoenix Workforce Solutions team offers companies and community colleges tailored learning and career pathways to recruit, upskill, reskill, and retain their workforce in an affordable and timely manner. Their flexible solutions are aligned to workplace needs and feature live support, career guidance and support tools, education programs, learning pathways, and credit options, including certificates, workshops, single courses, degree programs, or any combination of these tools.
About Education at Work
Education at Work’s mission is to help college students minimize student loan debt while developing career-readiness skills. EAW partners with universities to employ students in resume-worthy jobs, supporting forward-thinking companies. EAW is part of Strada Collaborative, a nonprofit organization to empower all learners. To learn more, visit educationatwork.org.
About University of Phoenix
University of Phoenix is continually innovating to help working adults enhance their careers in a rapidly changing world. Flexible schedules, relevant courses, interactive learning, and Career Services for Life® help students more effectively pursue career and personal aspirations while balancing their busy lives.