0001104659-15-039794.txt : 20150521 0001104659-15-039794.hdr.sgml : 20150521 20150521063229 ACCESSION NUMBER: 0001104659-15-039794 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20150521 DATE AS OF CHANGE: 20150521 GROUP MEMBERS: CREDIT SUISSE TRUST LTD AS TRUSTEE OF THE MORNING RAIN TRUST GROUP MEMBERS: GOLDEN SECTION HOLDING CORP GROUP MEMBERS: GOLDEN SEED VENTURE LTD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Xueda Education Group CENTRAL INDEX KEY: 0001499619 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-85750 FILM NUMBER: 15881214 BUSINESS ADDRESS: STREET 1: A-4 Xibahe Beili STREET 2: Chaoyang District CITY: Beijing STATE: F4 ZIP: 100028 BUSINESS PHONE: (8610) 6427-8899 MAIL ADDRESS: STREET 1: A-4 Xibahe Beili STREET 2: Chaoyang District CITY: Beijing STATE: F4 ZIP: 100028 FORMER COMPANY: FORMER CONFORMED NAME: China Xueda Education Ltd DATE OF NAME CHANGE: 20100819 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Jin Xin CENTRAL INDEX KEY: 0001510921 FILING VALUES: FORM TYPE: SC 13D/A MAIL ADDRESS: STREET 1: XUEDA EDUCATION GROUP A-4 XIBAHE BEILI STREET 2: CHAOYANG DISTRICT CITY: BEIJING STATE: F4 ZIP: 100028 SC 13D/A 1 a15-12398_1sc13da.htm SC 13D/A

 

 

UNITED STATES

 

 

SECURITIES AND EXCHANGE COMMISSION

 

 

Washington, D.C. 20549

 

 

 

 

 

SCHEDULE 13D

 

 

Under the Securities Exchange Act of 1934
(Amendment No. 1)*

 

Xueda Education Group

(Name of Issuer)

 

Ordinary Shares, par value US$0.0001 per share

(Title of Class of Securities)

 

98418W109(1)

(CUSIP Number)

 

Xin Jin

c/o Xueda Education Group

A-4 Xibahe Beili, Chaoyang District

Beijing 100028

People’s Republic of China

Tel: +(86-10)6427-8899

 

With a copy to:

 

David T. Zhang, Esq.

Kirkland & Ellis International LLP

c/o 26th Floor, Gloucester Tower, The Landmark

15 Queen’s Road Central

Hong Kong

Tel: +852-3761-3318

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

 

May 21, 2015

(Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 


(1) This CUSIP number applies to the Issuer’s American Depositary Shares, each representing two Ordinary Shares.

 


 


 

CUSIP No. 98418W109

 

 

1.

Name of Reporting Person
Xin Jin

 

 

2.

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds
OO

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
People’s Republic of China

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
41,132,948 Ordinary Shares

 

8.

Shared Voting Power
0

 

9.

Sole Dispositive Power
41,132,948 Ordinary Shares

 

10.

Shared Dispositive Power
0

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
41,132,948 Ordinary Shares

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
33.0%
(1)

 

 

14.

Type of Reporting Person
IN

 


(1)         The percentage is based on 124,655,742 Ordinary Shares issued and outstanding as of March 23, 2015 (excluding 7,053,062 unvested restricted shares), as provided by the Issuer.

 

2



 

CUSIP No. 98418W109

 

 

1.

Name of Reporting Person
Golden Section Holding Corporation

 

 

2.

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds
OO

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
British Virgin Islands

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
41,132,948 Ordinary Shares

 

8.

Shared Voting Power
0

 

9.

Sole Dispositive Power
41,132,948 Ordinary Shares

 

10.

Shared Dispositive Power
0

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
41,132,948 Ordinary Shares

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
33.0%
(1)

 

 

14.

Type of Reporting Person
CO

 


(1)         The percentage is based on 124,655,742 Ordinary Shares issued and outstanding as of March 23, 2015 (excluding 7,053,062 unvested restricted shares), as provided by the Issuer.

 

3



 

CUSIP No. 98418W109

 

 

1.

Name of Reporting Person
Golden Seed Venture Limited

 

 

2.

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds
OO

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
Bahamas

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
41,132,948 Ordinary Shares

 

8.

Shared Voting Power
0

 

9.

Sole Dispositive Power
41,132,948 Ordinary Shares

 

10.

Shared Dispositive Power
0

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
41,132,948 Ordinary Shares

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
33.0%
(1)

 

 

14.

Type of Reporting Person
CO

 


(1)         The percentage is based on 124,655,742 Ordinary Shares issued and outstanding as of March 23, 2015 (excluding 7,053,062 unvested restricted shares), as provided by the Issuer.

 

4



 

CUSIP No. 98418W109

 

 

1.

Name of Reporting Person
Credit Suisse Trust Limited as Trustee of The Morning Rain Trust

 

 

2.

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds
OO

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6.

Citizenship or Place of Organization
Singapore

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
41,132,948 Ordinary Shares

 

8.

Shared Voting Power
0

 

9.

Sole Dispositive Power
41,132,948 Ordinary Shares

 

10.

Shared Dispositive Power
0

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
41,132,948 Ordinary Shares

 

 

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares   o

 

 

13.

Percent of Class Represented by Amount in Row (11)
33.0%
(1)

 

 

14.

Type of Reporting Person
OO

 


(1)         The percentage is based on 124,655,742 Ordinary Shares issued and outstanding as of March 23, 2015 (excluding 7,053,062 unvested restricted shares), as provided by the Issuer.

 

5



 

Explanatory Note

 

This Amendment No. 1 (this “Amendment No. 1”) amends the Schedule 13D filed by (a) Xin Jin, a citizen of the People’s Republic of China, (b) Golden Section Holding Corporation, a company organized under the laws of the British Virgin Islands, (c) Golden Seed Venture Limited, a company organized under the laws of the Bahamas, and (d) Credit Suisse Trust Limited as Trustee of The Morning Rain Trust, a company organized under the laws of Singapore on March 23, 2015 (the “Original Schedule 13D”, together with this Amendment No. 1, the “Schedule 13D”). Capitalized terms used but not defined in this Amendment No. 1 have the same respective meanings provided to them in the Original Schedule 13D.

 

Item 4.                   Purpose of Transaction

 

Item 4 of the Schedule 13D is hereby amended and supplemented as follows:

 

The Reporting Persons acquired the Ordinary Shares and ADSs covered by the Schedule 13D for long-term investment purposes and intend to review their investment in the Issuer on a continuous basis. As a director and executive officer of the Issuer, Mr. Xin Jin may have influence over the corporate activities of the Issuer, including activities which may relate to transactions described in clauses (a) through (j) of Item 4 of Schedule 13D.

 

On May 14, 2015, the Issuer announced that its Board of Directors (the “Board”) has formed a committee of independent directors (the “Independent Committee”) to evaluate the preliminary non-binding proposal letter dated April 20, 2015 (the “Proposal Letter”) from Insight Investment Co., Ltd., a Chinese company listed on the Shenzhen Stock Exchange under the Stock Code 000526.SZ (“Insight Investment”), to acquire all of the Issuer’s outstanding shares (the “Proposed Transaction”).

 

Mr. Xin Jin has informed the Independent Committee that, in light of the Proposed Transaction, he has been in discussions with Insight Investment regarding the Proposed Transaction, he is currently interested in forming a consortium with Insight Investment in pursuing the Proposed Transaction and he is not currently interested in selling the Issuer’s shares directly or indirectly held by him in any other transaction involving the sale of the Issuer’s shares.

 

6



 

SIGNATURES

 

After reasonable inquiry and to the best of the knowledge and belief of the undersigned, the undersigned certify that the information set forth in this statement is true, complete and correct.

 

Dated: May 21, 2015

 

 

 

 

 

 

Xin JIN

 

 

 

 

 

/s/ Xin Jin

 

Xin Jin

 

 

 

 

 

Golden Section Holding Corporation

 

 

 

 

 

 

By:

/s/ Xin Jin

 

Name:

Xin Jin

 

Title:

Director

 

 

 

 

 

Golden Seed Venture Limited

 

 

 

 

 

 

 

By:

/s/ Kim Chu Yen & Mark John Farrell

 

Name:

Kim Chu Yen & Mark John Farrell

 

Title:

Authorized Signatories

 

 

For and on behalf of

 

 

Bukit Merah Limited

 

 

As Corporate Director

 

 

 

 

 

 

 

Credit Suisse Trust Limited as Trustee of The Morning Rain Trust

 

 

 

 

 

 

By:

/s/ Kim Chu Yen & Mark John Farrell

 

Name:

Kim Chu Yen & Mark John Farrell

 

Title:

Authorized Signatories

 

 

For and on behalf of

 

 

Credit Suisse Trust Limited

 

7