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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Europasia | LSE:EPE | London | Ordinary Share | GB00B0N9QD87 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:5398U Europasia Education PLC 23 November 2005 23 November 2005 EUROPASIA EDUCATION PLC: VALUE OF INVESTMENT EuropAsia Education plc, the AIM-listed education group, welcomes the listing of China Education Group ("CEG), in which it has a 12 per cent shareholding, on Ofex. CEG owns 100 per cent of EuropAsia (Beijing) Educational Technology ("EPE Beijing"), a China-based company which manages Shandong International Institute of Translation ("SIIT"), a profitable Chinese university with over 8,000 students. EPE Beijing recently announced a 61 per cent increase in profit after tax for the year to 30 June 2005 to #2.4 million, on turnover up 61 per cent at #3 million. EPE (Beijing) has an exclusive 25 year contract to run SIIT. SIIT offers diploma and undergraduate courses in foreign languages, computer science, information technology, international commerce and trade and hospitality and tourism. CEG is expected to be valued at #17 million on listing, which values EPE's initial stake at #1.9 million, nearly double the value of its #0.99 million investment nine months ago, of which #160,000 was in cash and the remainder in EPE shares. EPE is acquiring an additional stake in CEG as part of its restructuring and Ofex listing, so that it will own 13.8% of the ordinary shares in issue on listing. EPE is currently raising additional funds to enable it to participate in CEG's fund raising. James Holmes, Chairman of EuropAsia Education plc, said: "China's one child policy has encouraged increased spending on education as parents focus their resources on giving their one child the best possible education. We are delighted with the success of this investment, our stake in which at the listing price exceeds EPE's own market capitalisation. We will continue to seek out similar opportunities". -ends- For further information: Paul Quade 07947 186694 CityRoad Communications 020 7248 8010 A copy of the prospectus is available from CEG's web site www.chinaeducationgroup.com, or London Asia Corporate Finance's web site www.londonasiacf.com, or by writing to: London Asia Corporate Finance 7th Floor, Aldermary House 15 Queen Street London EC4N 1TX About Shandong International Institute of Translation Based in Shandong Province, China, SIIT was established in June 1999. It offers 2-3 year-diploma courses in foreign languages, computer science, information technology, international commerce and trade, hospitality and tourism. There are currently over 8,000 students, based in two campuses in Shandong Province, China. The college provides accessible, affordable, high-quality post-secondary education that prepares students to enter the job market, allows them to transfer to universities, helps them to study and work abroad, and assists them in achieving their professional and personal goals. As the first translation college in Shandong Province, the college provides a wide variety of language learning and translation programs in English, Chinese, Korean, Japanese, Russian, French, German, Spanish, Arabic, Italian, Greek and Esperanto. A strong college transfer programme has evolved to allow students the opportunity to take the first two years of a baccalaureate degree and transfer to one of the state's four-year institutions.. For additional information, see www.chinaeducationgroup.com About Europasia Education plc EPE is an AIM listed education investment group, focused on opportunities in Europe and Asia. It owns 100% of Education 2000, an English language and work experience placement business based in Bournemouth, UK, and Columbia International, trading under the name Management International, an education consulting and work placement business based in London, as well as its stake in China Education Group. For additional information, visit www.europasiaeducation.com This information is provided by RNS The company news service from the London Stock Exchange END MSCGGMZMLFGGKZG
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