CIBT Reduces its Total Issued and Outstanding Shares for the Second Time in Six Monthsadmin
CIBT Reduces its Total Issued and Outstanding Shares for the Second Time in Six Months
Vancouver, British Columbia CANADA, February 21, 2014 /FSC/ – CIBT Education Group Inc. (MBA – TSX, MBAIF – OTCBB), (“CIBT Group”) reports that it is cancelling 865,600 common shares which had been repurchased pursuant to a normal course issuer bid. The total number of issued and outstanding shares becomes 65,068,520 common shares, upon cancellation of these shares.
“The company recognizes the fact that a healthy share structure is critical to enhancing shareholder value therefore the company intends to continue its share buy-back from the open market to decrease its share supply while improving its operational results, expand its business, and increase investor relations efforts to create higher demand for our stock” commented Toby Chu, President and CEO, Vice Chairman of CIBT Group. “This is the second time in six months we are reducing the number of issued and outstanding shares, which yielded higher share value since our last cancellation on August 19th 2013. Total number of shares cancelled in 6 months is 6,880,224 shares representing over 11% of today’s issued and outstanding.”
About CIBT Education Group:
CIBT Education Group Inc. (“CIBT Group”) is an education management company focused on the global education market since 1994. Listed in Canada on the Toronto Stock Exchange and in the U.S on the OTCQX International, CIBT Group owns and operates a network of business, technical and language colleges in North America and Asia. CIBT Group offers cooperative joint programmes in 12 countries with campuses, recruitment offices and training centers enrolling over 5,000 students annually. Its education business is operated through Sprott Shaw College (established in 1903), Acsenda School of Management, CIBT School of Business China, and A-Plus Education Centers in China. Through these subsidiaries, CIBT Group offers Western and Chinese accredited business and management degrees, programmes in college preparation, healthcare, hotel management and tourism, English language training, English Teacher Certifications, junior and high school preparation programmes for overseas study, and other career/vocational training. CIBT Group also owns Irix Design Group, a leading design and advertising company based in Vancouver, Canada, Global Career Center (“GCC”), Global Education Alliance (“GEA”) and Global Education City Holdings Inc (“GEC”). GCC is a job placement call center located in the Philippines dedicated to providing employment services to CIBT Group graduates for free throughout their careers. GEA recruits international students for many elite kindergarten, primary, secondary schools and universities in North America. GEC is an investment holding and management company with a special focus on education related real estate projects in Canada. Visit us online at www.cibt.net.
On behalf of the Board of Directors,
Vice-Chairman, President & CEO
CIBT Education Group Inc.
Phone: 1-604-871-9909 Email: firstname.lastname@example.org
Investor Relations Contact: 604.871.9909
To view the press release as a PDF, please click on the following link:
Source: CIBT Education Group Inc. (MBA – TSX) (MBAIF – OTCQX) http://www.cibt.net
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Posted: February 21st, 2014 under FSCWIRE.