Amd Commo Exagr Regulatory News (COMG)

6 Dec 2005 07:30

Europasia Education PLC06 December 2005 6 December 2005 EUROPASIA EDUCATION PLC APPOINTMENT OF NON-EXECUTIVE DIRECTOR EuropAsia Education plc ("EPE"), the AIM-listed educational group, is pleased toannounce the appointment of James Heyworth-Dunne as a non-executive director. A trained barrister, Mr Heyworth-Dunne (aged 61) has extensive investmentmanagement experience, having started his career with NM Rothschild where hebecame a main board director and served on the executive committee. Previous roles include Managing Director of Cayzer Limited, a Director ofGartmore Investment Management, Managing Director of Norwich Union InvestmentManagement and head of Global Investment Strategy at Mercury Asset Management. More recently he was responsible for reorganising the global investmentmanagement business of Mitsubishi Trust and Banking in Tokyo, as well asestablishing overseas investment offices in London and New York. Mr Heyworth-Dunne has been awarded two million ordinary share options in EPE,valid for five years, at an exercise price of 5p per share. There is no further information to be announced in accordance with the Aim Rulesin respect of Mr Hayworth-Dunne. Ms Umku Imam is stepping down from the Board to pursue her other interests. The Company is currently in negotiations to take a minority stake in a Chineseeducation business, whose unaudited results show it is making profits of over£1.5 million a year. Further details will be released as the negotiationsprogress. EPE has to date issued 500,000 unlisted £1 five year Convertible Loan Notes aspart of a refinancing to raise funds to participate in the listing on Ofex ofChina Education Group, in which it holds a 13.8% stake. The Loan Notes payinterest of 10 per cent per year with a conversion price of 5p per share and 100per cent warrant coverage at 5p. EPE Chairman James Holmes said: "We are delighted to welcome James to theCompany. His substantial investment expertise and experience in the City willbe of great benefit to EPE as the company continues it's investment strategy ineducation businesses in China and elsewhere." -ends- For further information visit www.europasiaeducation.com or contact: James Holmes, Chairman 020 7248 7578EuropAsia Education plc Paul Quade 020 7248 8010CityRoad Communications 07947 186694 About China Education Group CEG is the Jersey incorporated holding company for a business which has a 25year licence to manage Shandong Internatonal Institute of Translation ("SIIT").Based in Shandong Province, China, SIIT was established in June 1999. It offers2-3 year-diploma courses in foreign languages, computer science, informationtechnology, international commerce and trade, hospitality and tourism. There arecurrently over 8,000 students, based in two campuses in Shandong Province,China. The college provides accessible, affordable, high-quality post-secondaryeducation that prepares students to enter the job market, allows them totransfer to universities, helps them to study and work abroad, and assists themin achieving their professional and personal goals. As the first translation college in Shandong Province, the college provides awide variety of language learning and translation programs in English, Chinese,Korean, Japanese, Russian, French, German, Spanish, Arabic, Italian, Greek andEsperanto. A strong college transfer programme has evolved to allow students theopportunity to take the first two years of a baccalaureate degree and transferto one of the state's four-year institutions. CEG is currently raising funds and applying for a listing on Ofex, with firstdays trading anticipated on 15 December. For additional information, see www.chinaeducation.com About Europasia Education plc EPE is an AIM listed education investment group, focused on opportunities inEurope and Asia. It owns 100% of Education 2000, an English language and workexperience placement business based in Bournemouth, UK, and ColumbiaInternational, trading under the name Management International, an educationconsulting and work placement business based in London. This information is provided by RNS The company news service from the London Stock Exchange