Corporate Update

As the ELT industry continues to evolve in the post COVID-19 environment, Wall Street English International would like to share the following updates:

Wall Street English adapted quickly, moving over 170,000 students worldwide to a proprietary online learning solution. Despite these challenging times our franchise partners and teaching staff continued delivering personalized online classes safeguarding learning continuity. Moving forward as we welcome our students progressively back to our centers they can continue to benefit from the additional online accessibility.

Moreover, in China and Vietnam, we have changed ownership to bring in new investment and management to recover performance post the pandemic.

In China, Dr Tiziano Peccenini, the original founder of Wall Street English will step in officially as the new owner and together with his management team, will lead the rapid transformation of Wall Street English China that is fit for a post COVID-19 environment. Existing shareholders BPEA and CITIC Capital Partners will continue to operate as shareholders of Wall Street English International.

In Vietnam, Myanmar Strategic Holdings Ltd acquired Wall Street English Vietnam.

The Wall Street English International team, extends a warm welcome back to Dr. Tiziano Peccenini as he rejoins the business in China and wishes Myanmar Strategic Holdings success as they extend their business into the Vietnamese market.