Key Developments: CIBT Education Group Inc (MBA.TO)
0.15CAD
17 Jun 2013
$0.00 (+3.45%)
$0.14
$0.15
$0.15
$0.15
240,100
77,820
$0.28
$0.12
Latest Key Developments (Source: Significant Developments)
CIBT Education Group Inc Establishes Education Center In Beijing
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
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
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
CIBT Education Group Inc's GEA Division Signs Global Recruitment Agreement With Mulgrave School
CIBT Education Group Inc announced that its newly formed division, Global Education Alliance (GEA), has entered into an agreement with Mulgrave School (Mulgrave) under which GEA has been appointed as their global recruitment partner. Mulgrave is a Pre-Kindergarten to grade 12 International Baccalaureate World School located in West Vancouver, British Columbia. Under the terms of the agreement, GEA will assist in the marketing and promotion of Mulgrave for the international market, and will recruit international students, whose families are looking to re-locate to Vancouver, to study at Mulgrave. GEA will provide student services and recruitment by tapping into CIBT Group’s existing infrastructure and referral network at 50+ locations in 18 countries. Full Article
CIBT Education Group Inc Signs LOI to Acquire Linkman International Language Institute in China
CIBT Education Group Inc announced that it has entered into a Letter of Intent with Linkman International Language Institute (Linkman) to acquire shares from treasury representing 95% of all issued and outstanding shares of Linkman at closing. Subject to due diligence, the receipt of all necessary approvals and the satisfaction of other conditions, this acquisition is expected to close within the next eight weeks. Details of the transaction will be announced after closing. Linkman is a language training institution in China that operates two campuses in the province of Zhejiang, within the cities of Hangzhou and Xiaoshan. They specialize in English language training for students in elementary and middle school, but also train students in high school as well as adults. Full Article
CIBT Education Group Inc Establishes GLN Partnership With Beijing Language And Culture University
CIBT Education Group Inc announced that it has signed a Memorandum of Understanding (MOU) with the Beijing Language and Culture University (BLCU) to establish a Global Learning Network Center (GLN Center) with interactive video conferencing technology within the BLCU Beijing campus. Full Article
CIBT Education Group Inc To Establish GLN Partnership With Henan Radio And Television University In China
CIBT Education Group Inc. announced that it has signed a Memorandum of Understanding (MOU) with Henan Radio and Television University (HRTVU), a member of The Open University of China (formerly China Central Radio Television University or CCRTVU), to jointly offer educational programs in hotel and tourism management through CIBT Group's Global Learning Network (GLN). As outlined by the MOU, a GLN classroom equipped with professional grade video conferencing equipment will be established within HRTVU's campus. This will allow CIBT Group instructors located in Vancouver, Canada to teach the proposed courses, minimizing capital expenditures for both parties. HRTVU will utilize its local market knowledge and vast student network to market the programs, recruit students, and will also provide classroom facilities. CIBT Group will assist in marketing the proposed programs. Full Article
CIBT Education Group Inc To Establish GLN Partnership With Hebei Normal University
CIBT Education Group Inc announced that it has signed a Memorandum of Understanding ("MOU") with Hebei Normal University (HNU) Foreign Language College to jointly establish and offer educational programs in both English language training and hotel and tourism management through CIBT Group's Global Learning Network (GLN) system. Under the terms of the MOU, a GLN classroom equipped with professional grade video conferencing technology is to be established within Hebei Normal University, allowing CIBT Group instructors in Vancouver, Canada to teach the proposed courses. HNU is responsible for providing facilities, marketing and recruiting students, while CIBT Group will assist in these initiatives and deliver the programs by Canadian or U.S instructors broadcasted live from Vancouver, Canada. Full Article
CIBT Education Group Inc To Establish GLN Partnerships With Guangzhou And Zhaoqing Universities In China
CIBT Education Group Inc announced that it has signed Memorandums of Understanding (MOU) with Guangzhou University and Zhaoqing University respectively. Both universities are located in the Guangdong province of China. The MOUs state that CIBT Group will establish a Global Learning Network (GLN) classroom within each university's campus. Equipped with professional grade video conferencing technology via the GLN, these classrooms will allow both institutions to offer additional programs to be delivered by western teachers from GLN studios in Canada, and share additional resources with other GLN equipped academic institutions within the Global Learning Network. The partnerships are expected to offer Pre-Masters Transfer Programs; English Teacher Certification (TESOL) Programs; Tourism and Hospitality Management Programs; Overseas Study Preparation Programs; Hotel Industry English Programs. Full Article
CIBT Education Group Inc Completes Private Placement
CIBT Education Group Inc announced that it has completed its non-brokered private placement announced on May 20, 2011 for gross proceeds of $817,000. The proceeds will be used for business development, potential acquisition opportunities, and general working capital purposes. The private placement securities are subject to a hold period expiring on October 30, 2011 as to 1,690,000 units and on November 12, 2011 as to 1,033,333 units. Full Article
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