The Directors of China Education Group Limited ("CEG" or "the Company") are
pleased to announce that the Company's offer for the subscription of 822,355
Five Year 7% Convertible Loan Notes ("the Loan Notes") has been fully
subscribed for and is now closed.
The Loan Notes are convertible into 2,549,938 ordinary shares at a conversion
price of 32.25p per share. Funds raised will go towards the continued
expansion of the Company's facilities in order to cope with increasing student
numbers, and provide the working capital necessary to pursue future projects.
Application has been made to list all the Loan Notes on Ofex, and the expected
first day of trading is 23 December 2005.
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