Skillful Craftsman Education Technology Ltd 6-K, filed Sep 23, 2024
Skillful Craftsman Education Technology Ltd (EDTK)
About this 6-K
Skillful Craftsman Education Technology Ltd filed this 6-K on September 23, 2024.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of September 2024
Commission file number: 001-39360
SKILLFUL CRAFTSMAN EDUCATION TECHNOLOGY LIMITED
Floor 4, Building 1, No. 311, Yanxin Road
Huishan District, Wuxi
Jiangsu Province, PRC 214000
(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 ☒ Form 40-F ☐
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
On September 19, 2024, the Board of Directors (the “Board”) of Skillful Craftsman Education Technology Limited (the “Company”) received a resignation letter from Mr. Steven Yuan Ning Sim, to resign from the positions as a member of the Board, Chairman of the Audit Committee, a member of Compensation Committee and a member of Nominating and Corporate Governance Committee of the Board, effective on September 19, 2024. Mr. Sim’s resignation is due to his personal reason and not because of any disagreement with the Company, its management or its other directors.
On September 20, 2024, the Board appointed Ms. Qin Zhang as a member of the Board, Chairman of the Audit Committee, a member of Compensation Committee and a member of Nominating and Corporate Governance Committee of the Board, effective on September 20, 2024, to fill the vacancy following the resignation of Mr. Steven Yuan Ning Sim.
Ms. Qin Zhang, age 38, has served as the head of accounting department for Columbus Digital Technology (Shen Zhen) Co., Ltd. since July 2014. Ms. Zhang received her bachelor’s degree in business administration from Anhui University of Technology in China in 2011. Ms. Zhang holds a middle level accounting professional qualification from China.
There are no arrangements or understandings between Ms. Qin Zhang and any other person pursuant to which Ms. Zhang was appointed as a director of the Company. In addition, there is no family relationship between Ms. Zhang and any director or executive officer of the Company. The Board deems Ms. Zhang an “independent director” as defined by NASDAQ Rule 5605(a)(2). The Board also determines that Ms. Zhang an “audit committee financial expert” as defined by NASDAQ Rule 5605(c)(2)(A) and Item 407(d)(5) of Regulation S-K.
In connection with her appointment, the Company entered into a director agreement with Ms. Qin Zhang (the “Agreement”) on September 20, 2024. Under the terms of the Agreement, Ms. Zhang shall receive from the Company a fee in the amount of RMB 20,000 a year for each year of her director services, payable at the end of each year. The Agreement imposes certain customary confidentiality and non-disclosure obligations on Ms. Zhang customary for the agreements of this nature. The foregoing description is merely a summary of the Agreement and therefore does not purport to be complete and is qualified in its entirety by reference to the Agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated by reference herein.
Exhibits Index
Exhibit No. |
Description | |
| 10.1 | Director Agreement by and Between the Company and Qin Zhang dated September 20, 2024. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| SKILLFUL CRAFTSMAN EDUCATION TECHNOLOGY LIMITED | ||
| (Registrant) | ||
| By: | /s/ Bin Fu | |
| Name: | Bin Fu | |
| Title: | Chief Executive Officer | |
Date: September 23, 2024
Exhibit 10.1
DIRECTOR AGREEMENT
This Director Agreement (the “Agreement’’) is made and entered into as of September 20, 2024 (the “Effective Date”), by and between Skillful Craftsman Education Technology Limited, a Cayman Islands company (the “Company”), and Qin Zhang, an individual (the “Director”).
I. SERVICES
1.1 Board of Directors. The Company has appointed the Director to the Company’s Board of Directors (the “Board”), the Chairman of the Audit Committee, a member of Nominating and Corporate Governance Committee and a member of the Compensation Committee of the Board. Director agrees to perform such tasks as may be necessary to fulfill Director’s obligations as a member of the Board and serve as a director so long as she is duly appointed or elected and qualified in accordance with the applicable provisions of the Memorandum and Articles of Association, Bylaws and any applicable stockholders’ agreement of the Company and until such time as she resigns, fails to stand for election, fails to be elected by the stockholders of the Company or is removed from her position. Director may at any time and for any reason resign or be removed from such position (subject to any other contractual obligation or other obligation imposed by operation of law), in which event the Company shall have no obligation under this Agreement with respect to the Director.
1.2 Director Services. Director’s services to the Company hereunder shall include service on the Board to manage the business of the Company in accordance with applicable law and stock exchange rules as well as the Memorandum and Articles of Association and Bylaws of the Company, serving on committees of the Board as appointed and such other services mutually agreed to by Director and the Company (the “Director Services”).
1.3 Member of Committees. Director agrees to serve as a member of Nominating and Corporate Governance Committee, a member of the Compensation Committee and the Chairman of the Audit Committee of the Board. The Company and the Director acknowledge that all official appointments to committees of the Board are made by the Board.
1.4 Expiration Date. This Agreement shall terminate upon the “Expiration Date”, which shall be the earlier of the date on which Director ceases to be a member of the Board for any reason, including death, resignation, removal, or failure to be elected by the stockholders of the Company, or the date of termination of this Agreement in accordance with Section 5.2 hereof.
II. COMPENSATION
2.1 Expense Reimbursement. The Company shall reimburse Director for all reasonable travel and other out-of-pocket expenses incurred in connection with the Director Services rendered by Director.
2.2 Fees to Director. The Company agrees to pay Director a fee of RMB20,000 a year for Director Services, service as a member of Nominating and Corporate Governance Committee, a member of the Compensation Committee and the Chairman of the Audit Committee of the Board and other services mutually agreed by the parties. The fee to the Director shall be paid by the Company at the end of each year.
III. CONFIDENTIALITY AND NONDISCLOSURE
3.1 Confidentiality. During the term of this Agreement, and for a period of five (5) years after the Expiration Date, Director shall maintain in strict confidence all information she has obtained or shall obtain from the Company, which the Company has designated as “confidential” or which is by its nature confidential, relating to the Company’s business, operations, properties, assets, services, condition (financial or otherwise), liabilities, employee relations, customers (including customer usage statistics), suppliers, prospects, technology, or trade secrets, except to the extent such information (i) is in the public domain through no act or omission of the Director, (ii) is required to be disclosed by law or a valid order by a court or other governmental body, or (iii) is independently learned by Director outside of this relationship with the Company (the “Confidential Information”).
3.2 Nondisclosure and Nonuse Obligations. Director will use the Confidential Information solely to perform her obligations for the benefit of the Company hereunder. Director will treat all Confidential Information of the Company with the same degree of care as Director treats her own Confidential Information, and Director will use her best efforts to protect the Confidential Information. Director will not use the Confidential Information for her own benefit or the benefit of any other person or entity, except as being specifically permitted in this Agreement. Director will immediately give notice to the Company of any unauthorized use or disclosure by or through her, or of which she becomes aware, of the Confidential Information. Director agrees to assist the Company in remedying any such unauthorized use or disclosure of the Confidential Information.
3.3 Return of Company Property. All materials furnished to Director by the Company, whether delivered to Director by the Company or made by Director in the performance of Director Services under this Agreement (the “Company Property”), are the sole and exclusive property of the Company. Director agrees to promptly deliver the original and any copies of the Company Property to the Company at any time upon the Company’s request. Upon termination of this Agreement by either party for any reason, Director agrees to promptly deliver to the Company or destroy, at the Company’s option, the original and any copies of the Company Property. Director agrees to certify in writing that Director has so returned or destroyed all such Company Property.
IV. COVENANTS OF DIRECTOR
4.1 No Conflict of interest. During the term of this Agreement, and for a period of one (1) year after the Expiration Date, Director shall not be employed by, own, manage, control or participate in the ownership, management, operation or control of any person, firm, partnership, corporation or unincorporated association or entity of any kind that is competitive with the Company or otherwise undertake any obligation inconsistent with the terms hereof. Director represents that nothing in this Agreement conflicts with Director’s obligations to her current affiliation or other current relationships with the entity or entities. A business shall be deemed to be “competitive with the Company” for purpose of this Article IV if and to the extent it engages in the business substantially similar to the Company’s businesses described in its annual report. The ownership by the Director of not more than 5% of a corporation, partnership or other enterprise shall not constitute a violation hereof.
4.2 Noninterference with Business. During the term of this Agreement, and for a period of two (2) years after the Expiration Date, Director agrees not to interfere with the business of the Company in any manner. By way of example and not of limitation, Director agrees not to solicit or induce any employee, independent contractor, customer or supplier of the Company to terminate or breach his, her or its employment, contractual or other relationship with the Company.
V. TERM AND TERMINATION
5.1 Term. This Agreement is effective as of the date first written above and will continue until the Expiration Date.
5.2 Termination. Either party may terminate this Agreement at any time upon thirty (30) days prior written notice to the other party, or such shorter period as the parties may agree upon.
5.3 Survival. The rights and obligations contained in Articles Ill and IV will survive any termination or expiration of this Agreement.
VI. MISCELLANEOUS
6.1 Assignment. Except as expressly permitted by this Agreement, neither party shall assign, delegate, or otherwise transfer any of its rights or obligations under this Agreement without the prior written consent of the other party. Subject to the foregoing, this Agreement will be binding upon and inure to the benefit of the parties hereto and their respective heirs, legal representatives, successors and assigns.
6.2 No Waiver. The failure of any party to insist upon the strict observance and performance of the terms of this Agreement shall not be deemed a waiver of other obligations hereunder, nor shall it be considered a future or continuing waiver of the same terms.
6.3 Notices. Any notice required or permitted by this Agreement shall be in writing and shall be delivered as follows with notice deemed given as indicated: (i) by personal delivery when delivered personally; (ii) by overnight courier upon written verification of receipt; (iii) by facsimile transmission upon acknowledgment of receipt of electronic transmission; or (iv) by certified or registered mail, return receipt requested, upon verification of receipt. Notice shall be sent to the addresses set forth on the signature page of this Agreement or such other address s either party may specify in writing.
6.4 Severability. Should any provisions of this Agreement be held by a court of law to be illegal, invalid or unenforceable, the legality, validity and enforceability of the remaining provisions of this Agreement shall not be affected or impaired thereby.
6.5 Entire Agreement. This Agreement constitutes the entire agreement between the parties relating to this subject matter and supersedes all prior or contemporaneous oral or written agreements concerning such subject matter. The terms of this Agreement will govern all Director Services undertaken by Director for the Company.
6.6 Amendments. This Agreement may only be amended, modified or changed by an agreement signed by the Company and Director. The terms contained herein may not be altered, supplemented or interpreted by any course of dealing or practices.
6.7 Counterparts. This Agreement may be executed in two counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
6.8 Governing Law. Any disputes arising from or in connection with this Agreement, and the rights and obligations of the parties hereunder, shall be determined in accordance with the law of Cayman Islands applicable to agreements made and to be performed entirely in Cayman Islands.
(Signature pages to follow)
lN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.
| Company: Skillful Craftsman Education Technology Limited | Director: | |||
| By: | /s/ Bin Fu | By: | /s/ Qin Zhang | |
| Name: | Bin Fu, Chief Executive Officer | Name: | Qin Zhang | |
| Address: | Floor 4, Building 1, No. 311, Yanxin Road, Huishan District Wuxi, Jiangsu Province, PRC 214000 |
Address: | ||