Amd Commo Exagr Regulatory News (COMG)

13 Dec 2006 11:27

Europasia Education PLC13 December 2006 13 December 2006 EUROPASIA EDUCATION plc ("EPE" or "the Company") Increased Stake in China Education Group EPE has increased it's stake in PLUS listed China Education Group ("CEG") from15.3% to 16.9% via the acquisition of shares, at a cost of £352,398, at 42p pershare, being the market price of the shares as listed on PLUS on 12 December. Issue of equity Notice has been received from Springleaf Investments Ltd to exercise 100,000warrants at £1 per share, resulting in net proceeds to the Company of £100,000and the issue of 2 million new Ordinary Shares of the Company at an issue priceof 5p per share. Following the exercise of the warrants, Springleaf InvestmentsLtd has no warrants in EPE and holds 3.5% of the ordinary shares in the Company. Notice has been received from London Asia Capital plc to exercise 52,398warrants at £1 per share, resulting in net proceeds to the Company of £52,398and the issue of 1,047,960 new Ordinary Shares of the Company at an issue priceof 5p per share. Following the exercise of the warrants, London Asia capitalplc has 400,000 EPE warrants and holds 11.6% of the ordinary shares in theCompany. Application will be made to admit the 3,047,960 new Ordinary Shares to tradingon AIM and admission is expected to occur on 20 December 2006. The total numberof issued Ordinary Shares in the Company following the issue will be 57,008,523. James Holmes, EPE Chairman, said "This additional investment in CEG, followingits excellent results released at the end of last month, is in line with ourstrategy of seeking to increase our holding to 20%, which would enable EPE toshow its share of CEG's profits in EPE's accounts going forward. We arecontinuing to talk with the holders of EPE warrants and other potentialproviders of finance to enable us to hit our 20% target." For further information visit www.europasiaeducation.com or contact: James Holmes, Chairman Paul Quade EuropAsia Education plc City Road Communications 020 7355 7928 020 7248 8010 This information is provided by RNS The company news service from the London Stock Exchange