Key Developments: CIBT Education Group Inc (MBA.TO)

MBA.TO on Toronto Stock Exchange

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28 Jul 2014
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Latest Key Developments (Source: Significant Developments)

CIBT Education Group acquires second student housing property for $32.4 Million
Monday, 2 Jun 2014 09:37am EDT 

CIBT Education Group Inc:Says that it has signed a Purchase and Sale Agreement with a Vancouver, BC based developer for the purchase of three adjoining properties in the Greater Vancouver area and the development thereon of student centric serviced apartments.  Full Article

CIBT Education Group Inc acquires student housing property for $44 mln
Monday, 12 May 2014 09:00am EDT 

CIBT Education Group Inc:Signed a Purchase and Sale Agreement with a Vancouver, BC based developer to purchase three properties in the Greater Vancouver area.Project is to be developed into student centric serviced apartments for domestic and foreign students studying in the Lower Mainland.  Full Article

CIBT Education Group Inc reports normal course issuer bid
Thursday, 20 Feb 2014 09:00am EST 

CIBT Education Group Inc:Says it has received approval from the Toronto Stock Exchange (the TSX) to commence a normal course issuer bid (NCIB) to purchase up to 3,000,000 of its common shares, representing about 4.6 pct of the 65,079,920 common shares which were issued at the close of business on Feb. 11.  Full Article

CIBT Education Group Inc signs global recruitment agreement with pythagoras academy
Tuesday, 4 Feb 2014 09:00am EST 

CIBT Education Group Inc:Says it has entered into an agreement with Pythagoras Academy to become its exclusive global recruitment agent.  Full Article

CIBT Education Group Inc Unveils Plans To Develop Four Education Super Centers And Student Hotels In Greater Vancouver
Friday, 4 Oct 2013 09:00am EDT 

CIBT Education Group Inc announced that it has signed a memorandum of understanding to jointly develop an education super center called Global Education City. The Global Education City (GEC) will be located in the Greater Vancouver Regional District in an ideal location near a proposed Skytrain station, in proximity to the airport and major roads to downtown Vancouver. As the first education super center in North America, this education-real estate project has the capacity to house up to 600 international students in its hotel, while accommodating campus space for public and private educational institutions and office space for professional firms supporting international education. The concept is to create a single location for students, educators, and education service firms to do business in an education-centric environment. With the signing of the memorandum of understanding, the parties are entering into the due diligence phase of the project. The planned GEC is subject to the satisfaction of certain conditions including completion of the re-zoning application process and obtaining other relevant municipal approvals.  Full Article

CIBT Education Group Inc Completes Sale of Subsidiaries
Wednesday, 18 Sep 2013 09:02am EDT 

CIBT Education Group Inc announced that it has completed the sale of its subsidiaries King George International College & King George International Business College for $13.5 million. The purchase price was paid in cash and promissory note for $9.5 million on closing and $4 million six months from the closing date.  Full Article

CIBT Education Group Inc Announces Sale Of Subsidiary For $13.5 Million
Tuesday, 3 Sep 2013 09:00am EDT 

CIBT Education Group Inc announced that it has signed a definitive agreement with Loyalist Group Limited to sell one of CIBT's subsidiaries, King George International College & King George International Business College (collectively KGIC), for $13.5 million, subject to certain adjustments. The purchase price in this all cash transaction is payable in two installments, $9.5 million on closing and $4 million six months from the closing date. Closing is expected to occur shortly. Included in the purchase and sale agreement is a binding term sheet setting out the material terms of a business arrangement between Loyalist and CIBT under which CIBT will continue operating all KGIC operations in China as exclusive licensee.  Full Article

CIBT Education Group Inc Establishes Education Center In Beijing
Tuesday, 21 May 2013 09:00am EDT 

CIBT Education Group Inc announced that its subsidiary, King George International College (KGIC), one private English training schools in Canada, has completed the construction of its Beijing Education Center. The Beijing Education Center (the Center) will be KGIC`s launch pad for a series of education centers across China. The Center, whose study-abroad language preparation courses are fully accredited, brings a strong Canadian brand to students in China. KGIC`s preparation program creates a pathway for students to enter into CIBT and KGIC`s articulation schools and a bridge to support them with their transition into the North American academic system.  Full Article

CIBT Education Group Inc Agrees to Buy Linkman International Language Institute in China
Wednesday, 10 Apr 2013 04:15pm EDT 

CIBT Education Group Inc announced that it has signed an agreement to acquire all of the issued and outstanding shares of Linkman International Language Institute (Linkman). The agreement provides for the purchase funds to be paid into a wholly owned subsidiary of CIBT in Beijing so that the purchase funds may be used by Linkman for working capital purposes while allowing CIBT to have full control of the funds. Linkman is a language institution in China specializing in English language training for students in primary and secondary school, and professional English for adults. Linkman will become CIBT`s launching platform for its language subsidiary, KGIC International College. Linkman will change its name to KGIC English Academy, part of KGIC`s branding strategy in China, which will provide KGIC with existing brand, business, infrastructure and local and experienced management to cost-effectively springboard its strategy of adding more English training schools in China.  Full Article

CIBT Education Group Inc Announces Planned Share Buy-Back
Monday, 18 Feb 2013 08:15pm EST 

CIBT Education Group Inc announced that it has received approval from the Toronto Stock Exchange (the TSX) to commence a normal course issuer bid (NCIB) to purchase up to 3,000,000 of its common shares, representing approximately 4.3% of the 69,747,844 common shares which were issued and outstanding as at the close of business on February 15, 2013, to a maximum aggregate acquisition cost of approximately $1,000,000. The NCIB is being implemented because management believes that purchases under the NCIB constitute a desirable use of its funds on the basis that recent market prices of the common shares do not, and at certain times during the course of the NCIB may not, fully reflect the value of CIBT Group's business and future business prospects.  Full Article

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