EDU Holdings (ASX:EDU) said the Australian Securities Exchange has approved the company's formal delisting request, subject to conditions, according to a Monday Australian bourse filing.
The company said its shareholders can sell their shares in an equal access off-market buyback, under which the company will purchase up to 75 million shares at AU$0.165.
In addition, the company will buy back unmarketable parcels of shares, pending further details in a future disclosure.
The buyback and delisting remain subject to shareholder approval, which is to be decided in a general meeting on June 23.
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