CIBT Reduces Its Total Issued and Outstanding Shares for the Second Time in Six Months
21 Fevereiro 2014 - 11:00AM
Business Wire
(TSX: MBA / OTCQX: MBAIF) CIBT Education Group Inc.
(“CIBT Group”) reports that it is cancelling 865,600 common shares
which had been repurchased pursuant to a normal course issuer bid.
The total number of issued and outstanding shares becomes
65,068,520 common shares, upon cancellation of these shares.
“The company recognizes the fact that a healthy share structure
is critical to enhancing shareholder value; therefore the company
intends to continue its share buy-back from the open market to
decrease its share supply while improving its operational results,
expand its business, and increase investor relations efforts to
create higher demand for our stock,” commented Toby Chu, President
and CEO, Vice Chairman of CIBT Group. “This is the second time in
six months we are reducing the number of issued and outstanding
shares, which yielded higher share value since our last
cancellation on August 19th 2013. Total number of shares cancelled
in 6 months is 6,880,224 shares representing over 11% of today’s
issued and outstanding.”
About CIBT Education Group:
CIBT Education Group Inc. (“CIBT Group”) is an education
management company focused on the global education market since
1994. Listed in Canada on the Toronto Stock Exchange and in the
U.S. on the OTCQX International, CIBT Group owns and operates a
network of business, technical and language colleges in North
America and Asia. CIBT Group offers cooperative joint programmes in
12 countries with campuses, recruitment offices and training
centers enrolling over 5,000 students annually. Its education
business is operated through Sprott Shaw College (established in
1903), Acsenda School of Management, CIBT School of Business China,
and A-Plus Education Centers in China. Through these subsidiaries,
CIBT Group offers Western and Chinese accredited business and
management degrees, programmes in college preparation, healthcare,
hotel management and tourism, English language training, English
Teacher Certifications, junior and high school preparation
programmes for overseas study, and other career/vocational
training. CIBT Group also owns Irix Design Group, a leading design
and advertising company based in Vancouver, Canada, Global Career
Center (“GCC”), Global Education Alliance (“GEA”) and
Global Education City Holdings Inc (“GEC”). GCC is a job
placement call center located in the Philippines dedicated to
providing employment services to CIBT Group graduates for free
throughout their careers. GEA recruits international students for
many elite kindergarten, primary, secondary schools and
universities in North America. GEC is an investment holding and
management company with a special focus on education related real
estate projects in Canada. Visit us online at www.cibt.net.
On behalf of the Board of Directors,
Toby ChuVice-Chairman, President & CEOCIBT Education Group
Inc.Phone: 1-604-871-9909 Email: info@cibt.net
Investor Relations Contact: 604.871.9909
CIBT Education Group Inc.Toby Chu, 1-604-871-9909Vice-Chairman,
President & CEOinfo@cibt.netorInvestor
Relations:604-871-9909
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