SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
For the month of May 2015
Commission File Number: 001-34914
Xueda Education Group
A-4 Xibahe Beili
Chaoyang District
Beijing 100028
Peoples Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
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Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
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Exhibit 99.1
Xueda Education Group Announces the Formation of a Special Committee to Evaluate the Preliminary Non-Binding Proposal to Acquire the Company from Insight Investment Co., Ltd.
BEIJING, May 14, 2015 Xueda Education Group (NYSE: XUE) (Xueda or the Company), a leading national provider of personalized tutoring services for primary and secondary school students in China, today announced that the Board of Directors of the Company (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 Companys outstanding shares (the Proposal).
Each of the co-founders of the Company, Mr. Xin Jin, Mr. Rubin Li and Mr. Jinbo Yao (the Founders), currently intend to form a consortium with Insight Investment in connection with the Proposal. The Founders currently beneficially own, in the aggregate, shares of the Company representing approximately 58.8% of the issued and outstanding shares of the Company.
The Company cautions its shareholders and others considering trading its securities that neither the Board nor the Independent Committee has made any decision with respect to the Companys response to the Proposal Letter. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.
About Xueda Education Group
Xueda Education Group (Xueda) is a leading national provider of personalized tutoring services for primary and secondary school students in China. For more information about Xueda, please visit http://ir.xueda.com.
Forward-looking Statements
All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current expectations, market and operating conditions, estimates and projections about our industry, managements beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as anticipates, expects, intends, plans, predicts, believes, seeks, estimates, may, will, should, would, could, potential, continue, ongoing, targets and similar expressions, and variations or negatives of these words. These forward-looking statements are not guarantees of future results and are subject to risks and uncertainties beyond our control, which could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. Further information regarding these and other risks, uncertainties or factors is included in our filings with the U.S. Securities and Exchange Commission. We do not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
Contact:
Xueda Education Group
Ross Warner
Tel: +86-10-6427-8899 ext. 6619
Email: investor_relations@xueda.com
Asia Bridge Capital Limited
Wendy Sun
Tel: +86-10-8556-9033 (China)
+1-888-550-8392 (U.S.)
Email: wendy.sun@asiabridgegroup.com