Schedule 13D Amendment No. 8

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D/A

Under the Securities Exchange Act of 1934

(Amendment No. 8)*

 

 

China Distance Education Holdings Limited

(Name of Issuer)

Ordinary Shares, $0.0001 par value per share**

American Depositary Shares

(Title of Class of Securities)

16944W104***

(CUSIP Number)

Zhengdong Zhu

18th Floor, Xueyuan International Tower

1 Zhichun Road, Haidian District

Beijing 100083, People’s Republic of China

Telephone: +86-10-8231-9999

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

With copies to:

 

Ning Zhang

Morgan, Lewis & Bockius, LLP

Beijing Kerry Centre South Tower, Suite 823

No. 1 Guang Hua Road, Chaoyang District,

Beijing 100020, China

 

David A. Sirignano

Morgan, Lewis & Bockius, LLP

1111 Pennsylvania Avenue, N.W.

Washington, D.C. 20004

United States of America

November 8, 2018

(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.  ☐

 

*

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.

**

Not for trading, but in connection with the registration of American Depositary Shares, each representing four ordinary shares.

***

CUSIP number of the American Depositary Shares.

 

 

 


CUSIP No. 16944W104    13D/A    Page 1 of 7

 

  1   

Names of reporting persons

 

Zhengdong Zhu

  2   

Check the appropriate box if a member of a group

(a)  ☐        (b)  ☒

 

  3   

SEC use only

 

  4   

Source of funds (see instructions)

 

OO

  5   

Check box if disclosure of legal proceedings is required pursuant to Item 2(d) or 2(e)  ☐

 

  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

 

0

     8        

Shared voting power

 

52,190,749

     9        

Sole dispositive power

 

0

   10        

Shared dispositive power

 

52,190,749

11   

Aggregate amount beneficially owned by each reporting person

 

52,190,749

12   

Check box if the aggregate amount in Row (11) excludes certain shares (see instructions)  ☐

 

13   

Percent of class represented by amount in Row (11)

 

39.16%

14   

Type of reporting person (see instructions)

 

IN

 


CUSIP No. 16944W104    13D/A    Page 2 of 7

 

  1   

Names of reporting persons

 

Baohong Yin

  2   

Check the appropriate box if a member of a group

(a)  ☐        (b)  ☒

 

  3   

SEC use only

 

  4   

Source of funds (see instructions)

 

OO

  5   

Check box if disclosure of legal proceedings is required pursuant to Item 2(d) or 2(e)  ☐

 

  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

 

0

     8        

Shared voting power

 

52,190,749

     9        

Sole dispositive power

 

0

   10        

Shared dispositive power

 

52,190,749

11   

Aggregate amount beneficially owned by each reporting person

 

52,190,749

12   

Check box if the aggregate amount in Row (11) excludes certain shares (see instructions)  ☐

 

13   

Percent of class represented by amount in Row (11)

 

39.16%

14   

Type of reporting person (see instructions)

 

IN

 


CUSIP No. 16944W104    13D/A    Page 3 of 7

 

  1   

Names of reporting persons

 

Champion Shine Trading Limited

  2   

Check the appropriate box if a member of a group

(a)  ☐        (b)  ☒

 

  3   

SEC use only

 

  4   

Source of funds (see instructions)

 

OO

  5   

Check box if disclosure of legal proceedings is required pursuant to Item 2(d) or 2(e)  ☐

 

  6   

Citizenship or place of organization

 

British Virgin Islands

Number of

shares

beneficially

owned by

each

reporting

person

with

 

     7        

Sole voting power

 

0

     8        

Shared voting power

 

52,077,589

     9        

Sole dispositive power

 

0

   10        

Shared dispositive power

 

52,077,589

11   

Aggregate amount beneficially owned by each reporting person

 

52,077,589

12   

Check box if the aggregate amount in Row (11) excludes certain shares (see instructions)  ☐

 

13   

Percent of class represented by amount in Row (11)

 

39.08%

14   

Type of reporting person (see instructions)

 

CO

 


CUSIP No. 16944W104    13D/A    Page 4 of 7

 

Explanatory Note

This Amendment No. 8 to the statement on Schedule 13D (“Amendment No. 8”) relates to ordinary shares, par value $0.0001 per share (the “Ordinary Shares”), and American Depositary Shares, each representing four Ordinary Shares (the “ADSs”, together with the Ordinary Shares, the “Shares”), issued by China Distance Education Holdings Limited (the “Issuer”).

The Reporting Persons filed the initial statement on Schedule 13D on December 13, 2011 (the “Initial Statement”) that was amended by:

 

   

Amendment No. 1 filed on March 20, 2014 (“Amendment No. 1”),

 

   

Amendment No. 2 filed on January 7, 2015 (“Amendment No. 2”),

 

   

Amendment No. 3 filed on November 30, 2015 (“Amendment No. 3”),

 

   

Amendment No. 4 filed on January 5, 2017 (“Amendment No. 4”),

 

   

Amendment No. 5 filed on April 20, 2017 (“Amendment No. 5”),

 

   

Amendment No. 6 filed on June 25, 2018 (“Amendment No. 6”), and

 

   

Amendment No. 7 filed on August 22, 2018.

Amendment Nos. 1, 2, 3, 4, 5, 6, 7 and the Initial Statement, taken together, are the “Statement”. Capitalized terms used in this Amendment No. 8, but not otherwise defined, have the meanings given to them in the Initial Statement or Amendment Nos. 1 through 7, as appropriate.

Amendment No. 8 discloses only information that has changed since the filing of Amendment No. 7, and amends and supplements disclosures under Items 6, and 7 contained in the Statement, and amends and restates Item 5 of the Statement.

 

Item 5.

Interest in Securities of the Issuer

Item 5 of the Statement is hereby amended and restated in its entirety as follows:

“The percentages used herein are based on 133,275,521 outstanding Ordinary Shares as of June 30, 2018, as reported in the Form 6-K filed on August 16, 2018.

(a) Zhengdong Zhu and Baohong Yin may be deemed to have beneficial ownership of an aggregate of 52,190,749 Shares, consisting of (i) 44,800,245 ordinary shares and 1,819,336 ADSs, representing 7,277,344 ordinary shares, held by Champion Shine Trading Limited (“CST”), a company wholly owned by Zhengdong Zhu; (ii) 75,000 ordinary shares held by Baohong Yin; and (iii) 38,160 ordinary shares held by Zhengdong Zhu. Zhengdong Zhu and Baohong Yin are husband and wife. Therefore, Baohong Yin may be deemed to share the voting and dispositive power over the ordinary shares beneficially held by Zhengdong Zhu and vice versa. Such Shares represented approximately 39.16% of the Ordinary Shares that were deemed to be outstanding for purposes of calculating the beneficial ownership of such persons under Rule 13d-3(d)(1) of the Exchange Act.

CST may be deemed to have beneficial ownership of an aggregate of 52,077,589 Shares, consisting of 44,800,245 ordinary shares and 1,819,336 ADSs, representing 7,277,344 ordinary shares. Such Shares represent approximately 39.08% of the Ordinary Shares that were deemed to be outstanding for purposes of calculating the beneficial ownership of such persons under Rule 13d-3(d)(1) of the Exchange Act.

(b) Zhengdong Zhu and Baohong Yin may be deemed to exercise shared power to vote or to direct the vote and shared power to dispose or to direct the disposition of an aggregate of 52,190,749 Shares.

CST may be deemed to exercise shared power to vote or to direct the vote and shared power to dispose or to direct the disposition of an aggregate of 52,077,589 Shares.


CUSIP No. 16944W104    13D/A    Page 5 of 7

 

(c) CST has utilized part of the loan described in Item 3 of Amendment No. 6 to purchase the following ADSs:

 

Date    No. of ADSs      Per Stock Price (USD)      Net Amount (USD)  

11/07/2018

     6,141        7.3586        45,625.53  

11/06/2018

     6,141        7.5808        46,990.06  

11/05/2018

     1,153        7.6810        8,943.40  

11/02/2018

     6,417        7.9629        51,553.62  

11/01/2018

     4,917        7.7069        38,245.52  

10/31/2018

     3,111        7.3690        23,149.23  

10/30/2018

     40        7.2500        299.30  

10/29/2018

     100        7.1900        732.50  

10/26/2018

     5,992        7.3193        44,283.19  

10/25/2018

     300        7.2700        2,208.50  

10/24/2018

     5,519        7.1809        40,024.22  

10/23/2018

     5,600        7.5186        42,502.66  

10/19/2018

     4,149        7.9951        33,468.60  

10/18/2018

     4,567        8.0012        36,867.67  

10/16/2018

     4,944        7.9455        39,635.13  

10/15/2018

     1,594        7.8801        12,678.96  

10/12/2018

     6,156        7.9485        49,368.39  

10/11/2018

     600        7.7917        4,723.52  

10/10/2018

     5,752        7.8508        45,566.94  

10/09/2018

     5,599        7.8235        44,202.21  

10/08/2018

     5,732        7.8095        45,171.79  

10/05/2018

     7,507        7.8753        59,651.87  

10/04/2018

     5,956        8.0759        48,523.48  

10/03/2018

     1,097        8.1220        8,993.12  

10/02/2018

     5,044        8.1727        41,582.68  

10/01/2018

     4,924        8.3151        41,294.73  

09/28/2018

     6,336        8.2189        52,461.61  

09/27/2018

     8,309        8.0199        67,142.39  

09/26/2018

     1,361        8.1140        11,131.31  

09/25/2018

     5,817        8.1051        47,502.89  

09/24/2018

     2,700        8.1076        22,072.52  

09/21/2018

     7,481        8.0150        60,490.39  

09/20/2018

     7,113        8.0944        58,079.88  

09/19/2018

     7,481        7.8869        59,532.07  

09/18/2018

     7,481        7.9749        60,190.40  

09/17/2018

     7,481        8.2368        62,149.67  

09/14/2018

     7,038        8.7521        62,096.44  

09/13/2018

     7,038        9.4968        67,337.64  

09/12/2018

     7,038        9.6704        68,559.44  

09/11/2018

     7,038        9.6318        68,287.77  

09/10/2018

     6,149        9.4023        58,251.67  

09/07/2018

     5,673        9.2771        53,089.33  

09/06/2018

     5,673        9.1060        52,118.68  

09/05/2018

     5,673        9.2860        53,139.82  

09/04/2018

     5,072        9.1159        46,648.10  

08/31/2018

     4,792        9.2072        44,510.76  

08/30/2018

     3,664        9.0870        33,594.39  

08/29/2018

     100        8.7400        903.20  

08/29/2018

     4,692        9.0872        43,012.50  

08/28/2018

     4,792        8.8595        42,844.58  

08/27/2018

     4,646        8.7851        41,179.21  

08/24/2018

     3,771        8.7862        33,512.00  

08/23/2018

     3,771        8.7603        33,413.24  

08/22/2018

     3,371        8.6517        29,542.19  

(d) - (e) Not applicable.


CUSIP No. 16944W104    13D/A    Page 6 of 7

 

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

Item 6 of the Statement is hereby amended and supplemented by adding the following:

“On November 8, 2018, the Reporting Persons and Alpha entered into a supplemental agreement to the Loan Agreement described in Amendment No. 6 to this Schedule 13D (the “Supplemental Agreement”). The Supplemental Agreement amended the Loan Agreement to allow for the use of the unused portion of the loan described in Amendment No. 6 to this Schedule 13D to include the repayment of debt owed by Zhengdong Zhu to Beijing Xinyuan Zhitong Technology Co., Ltd., and the payment of various associated costs.

The Supplemental Agreement contemplates the immediate release of the unused portion of the loan described in Amendment No. 6 to this Schedule 13D upon certain conditions, including the charge of all ADSs purchased on or prior to October 25, 2018 to Alpha, and the execution by the Reporting Persons of an additional share charge agreement pursuant to which Zhengdong Zhu will charge all of his interests in another company in which he is an investor in favor of Alpha. As soon as practicable after the disbursement of the unused portion of the loan under the Loan Agreement but in any event no later than December 31, 2018, CST will charge 10 million Ordinary Shares to Madison Pacific Trust Limited as trustee for Alpha. Zhengdong Zhu will also pay Alpha $220,000.

The description of the Supplemental Agreement above is not intended to be complete and is qualified in its entirety by the Supplemental Agreement filed as Exhibit 1 to Amendment No. 8 to this Schedule 13D, and incorporated herein by reference.”

 

Item 7.

Material to Be Filed as Exhibits.

Item 7 of the Statement is hereby amended and supplemented by adding the following:

 

Exhibit

Number

  

Description

1    Supplemental Agreement to Loan Agreement, dated November 8, 2018 among Champion Shine Trading Limited, Zhengdong Zhu, Baohong Yin, and Alpha Mezzanine Investment Limited.


CUSIP No. 16944W104    13D/A    Page 7 of 7

 

SIGNATURES

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

Date: November 9, 2018

 

Zhengdong Zhu

/s/ Zhengdong Zhu

Baohong Yin

/s/ Baohong Yin

Champion Shine Trading Limited
By:  

/s/ Zhengdong Zhu

Name:   Zhengdong Zhu
Title:   Sole Director