27 Nov 2006 09:33
Europasia Education PLC27 November 2006 27 November 2006 EUROPASIA EDUCATION plc ("EPE" or "the Company") Issue of equity The Company announces the following issue of equity: • Notice has been received from Justproperty.com Ltd, which EPE director Simon Littlewood is a director and shareholder of, to exercise 6,500 warrants at £1 per share, resulting in the issue of 130,000 new Ordinary Shares of the Company at an exercise price of 5p per share. Following the exercise of the warrants, Justproperty.com Ltd holds 0.2% of the Company. • Notice has been received from Elemental Investments Ltd, a company associated with EPE director Simon Littlewood, to exercise 106,500 warrants at £1 per share, resulting in the issue of 2,130,000 new Ordinary Shares of the Company at an exercise price of 5p per share. Following the exercise of the warrants, Elemental Investments Ltd holds 3.9% of the Company. • Notice has been received from persons connected with Simon Littlewood to exercise 18,500 warrants which convert into 370,000 new Ordinary Shares in the Company at an exercise price of 5p per share. Following the exercise, those connected persons hold 0.7% of the ordinary issued share capital in the Company. • Notice has been received from EPE director Victor Ng and persons connected with Victor Ng to exercise 105,000 warrants which convert into 2,100,000 new Ordinary Shares in the Company at an exercise price of 5p per share. Victor Ng, and persons connected to Victor Ng, now hold a total of 8,200,000 Ordinary Shares, equal to 3.9% of the issued share capital. Application will be made to admit the 4,730,000 new Ordinary Shares to tradingon AiM and admission is expected to occur on 6 December 2006. The total numberof issued Ordinary Shares in the Company following the issue will be 53,960,000. James Holmes, Chief Executive of EPE, said: "We are encouraging the holders ofwarrants in the Company to exercise the warrants to bring in additional funds tothe Company to enable us to increase our existing stakes in China EducationGroup and Dalian Business Institute, as outlined in our Interim Statement. Weanticipate increasing our stages in both DBI and CEG to at least 20% initially,which will enable us to include our share of their profits in our own accounts,significantly impacting our reported profits going forward." For further information visit www.europasiaeducation.com or contact: James Holmes, Chairman Paul QuadeEuropAsia Education plc City Road Communications020 7355 7928 020 7248 8010 This information is provided by RNS The company news service from the London Stock Exchange