KingSun and extension education layout quasi capital acquisition 40% stake in British education

KingSun October 12th evening announcement, the company and the British Education Industry Co. Ltd. (hereinafter referred to as the "English education"), all shareholders jointly signed the "British education and capital acquisition framework agreement". After a preliminary agreement between the three sides friendly consultations, the company intends to use its own funds to increase capital and equity transfer, capital increase and acquisition of part of the equity education in England, the total transaction price of not more than 88 million yuan. After the completion of the transaction, the company will hold a 40% stake in the British education, and indirectly holds a stake in the British education Shenzhen international Preparatory School of the 100% stake of 40%.

The investment in the form of British education, all shareholders now holds 100% stake at a price of 132 million yuan of British education as the base, KingSun with no more than 66 million yuan capital of British education, the education of all shareholders to not more than 22 million yuan to sell its holdings of 10% stake in British education to KingSun; capital and acquisition, KingSun holds in England 40% of the equity of education.

According to reports, the British education holding 100% of Shenzhen International College Shenzhen is a veteran of the international school, renowned in the international education in Shenzhen and Southern China areas, the use of traditional educational advantages, is actively layout covering 3 to 18 years old age stage of the international education industry, to create the industry's flagship status.

KingSun said, the company intends through this capital increase and the acquisition of a stake in the company to speed up the private education in the field of business layout and development, improve the comprehensive competitiveness of the company, a solid foundation for the company to integrate and expand in the field of education lay, help the company sustained rapid development.

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