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• Ashfords advises China Education Group Ltd on its admission to Ofex

Introduction

Simon Rous, Partner at Ashfords acted for China Education Group Ltd in its admission to Ofex and Offer of Subscription of 822,355 7% Convertible Loan Notes of £1.00 each.

China Education Group Ltd is a Jersey registered company which is the holding company of Ample Gains Investments Limited a British Virgin Islands company. Ample Gains Investments Limited in turn owns 100% of the issued share capital of Europasia (Beijing) Educational Technology Co. Ltd. Europasia Beijing has a 25 year exclusive management contract to run the Shangdong International Institute of Translation, a profitable private Chinese college.

Shangdong International Institute of Translation (SIIT) is located in Shandong Province, China, is a nationally accredited comprehensive three-year college. The college diplomas awarded by SIIT are recognised by the Ministry of Education, the government authority of China.

SIIT was founded in 1999 in Ji'nan, capital city of Shandong Province as an educational training institution providing college training courses to those students who cannot get offers from a college or university accredited by the Ministry of Education.

Simon Littlewood a director of China Education Group Ltd referred Ashfords to the company as Ashfords have previously acted for Europasia Education plc (AIM listed) of which Simon Littlewood is also a director.

Simon Rous said "We were delighted to have acted for China Education Group on its admission to Ofex. The Chinese education market is in a growth period and we believe the company's investment in China through the 25 year contract with Shandong International Institute of Translation will take the company from strength to strength".

London Asia Corporate Finance Limited were corporate advisors on the Ofex admission.

Ashfords is regulated by the Solicitors Regulation Authority. The information in this article is intended to be general information about English law only and not comprehensive. It is not to be relied on as legal advice nor as an alternative to taking professional advice relating to specific circumstances.