CIBT Reduces its Total Issued and Outstanding Shares for the Third Time in 14 months
14 Outubro 2014 - 10:00AM
Business Wire
CIBT Education Group Inc. (TSX:MBA, OTCQX International:
MBAIF) (“CIBT Group”) reports that it is cancelling
1,900,000 common shares which have been repurchased pursuant to a
normal course issuer bid. Assuming no further share issuances
before the shares are cancelled, a total number of 64,556,853
common shares will be issued and outstanding.
The shares being cancelled were acquired under CIBT Group’s
normal course issuer bid under which up to 3,000,000 of its common
shares may be purchased for cancellation between February 24, 2014
and February 23, 2015. This represents approximately 4.5% of the
66,456,853 common shares which were issued and outstanding as at
the close of business on October 8th, 2014.
During the last 14 months, CIBT Group has purchased 8,780,224 of
its common shares through normal course issuer bids at a weighted
average price per share of $0.220.
“The company is optimistic about its future as the value
generated by our various international students and I.T worker
housing projects throughout Metro Vancouver is rapidly approaching
$230 million under development,” commented by Toby Chu, Vice
Chairman, President and CEO of CIBT Education Group Inc. “We
believe that as the company begins to realize the monetary value of
these projects in our financial reports, our consistent buy-back
and reduction of the number of shares issued and outstanding will
create tremendous value to our shareholders.”
About CIBT Education Group:
CIBT Education Group Inc. 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 programs in 12 countries with
campuses, recruitment offices and training centers enrolling over
6,500 students annually. Its education business is operated through
Sprott Shaw College (established in 1903), Acsenda School of
Management, CIBT School of Business China, and Global Education
Alliance Recruitment Centers in China and other overseas countries.
Through these subsidiaries, CIBT Group offers Western and Chinese
accredited business and management degrees, programs in college
preparation, healthcare, hotel management and tourism, English
language training, English Teacher Certifications, junior and high
school preparation programs 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 Education Alliance (“GEA”) and Global Education City
Holdings Inc (“GEC”). 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.
For more information contact:
Toby ChuVice-Chairman, President & CEOCIBT Education Group
Inc.Investor Relations Contact:1-604-871-9909 extension 318 or |
Email: info@cibt.net
CIBT Education Group Inc.Toby Chu, 1-604-871-9909 ext
318Vice-Chairman, President & CEOinfo@cibt.net
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