Ambow Education Iissues Open Letter to Shareholders from CEO Dr. Jin Huang, Chai
Ambow Education Holding Ltd. (NYSE: AMBO) has issued the following open letter to its shareholders from Dr. Jin Huang, Chairwoman and CEO of the Company:
My Fellow Shareholders:
As you have seen, the Grand Court of the Cayman Islands issued an order on June 7, 2013 appointing members of KPMG as provisional liquidators of the Company, which immediately turned control of the Company over to the provisional liquidators and marked an important turning point in the history of the Company. I am writing this open letter to shareholders in order for you to make informed decisions about your investment in Ambow and to open a dialogue that will be needed to ensure a promising future for the Company and the value of your shares.
The Facts about Ambow
Many rumors have circulated regarding the Company and the status of various important inquiries that it is the subject of. As investors, you are entitled to transparency and good governance and we are committed to providing you accurate, current information in this regard:
Cash position. As a result of our recent financing transaction with SummitView Investment Limited, a strategic and well-connected investment fund, some parties have questioned our liquidity and working capital