Amd Commo Exagr Regulatory News (COMG)

25 Jan 2006 07:00

Europasia Education PLC25 January 2006 EUROPASIA EDUCATION plc £1 million Fund Raising Successfully Completed EuropAsia Education plc ("EPE" or "the Company"), the AIM-listed educationalgroup, is pleased to announce that it has successfully raised £1 million via theissue of unlisted Convertible Loan Notes of £1 each. Part of the money was used to increase the Company's stake in China EducationGroup ("CEG") as part of it's listing on Ofex. EPE now holds 13.4% of CEG'sordinary shares, and £387,755 Loan Notes. At the current market price, EPE'sholding in CEG is valued at £2.8 million, nearly double the value of itsoriginal investment. EPE plans to use part of the remaining funds to acquire a minority stake in aprofitable private Chinese college. Negotiations are currently underway and afurther announcement will be made in due course. The EPE Convertible Loan Notes pay interest of 10 per cent per year with aconversion price of 5p per share and 100 per cent warrant coverage. EPE Chairman, James Holmes, said: "The funds raised will enable us to makeadditional profitable investments as we continue to build on the success of ourinvestment in CEG, where our investment of £1.4 million has nearly doubled invalue." 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 Europasia Education plc EPE is an AIM listed education investment group, focused on opportunities inEurope and Asia. It currently has three investments: • A stake in Ofex listed China Education Group, which operates a profitable private college in China • 100% of Bournemouth Education Ltd, which trades as English 2000, an English language and work experience placement business based in Bournemouth, UK,; • 100% of Columbia International, trading under the name Management International, an education consulting and work placement business based in London. This information is provided by RNS The company news service from the London Stock Exchange