VANCOUVER, June 24, 2019 /CNW/ - CIBT Education Group
Inc. ("CIBT" or the "Company") (TSX: MBA, OTCQX International:
MBAIF) has noted the recent decrease in the share price of the
Company and reports the following short selling position as
published by the TSX. The total short position between
May 31st, 2019 to
June 14th, 2019, increased
by 407,032 shares, from 26,651 to 433,683 shares.
|
Date
|
Total Short
Position
|
Total
Volume
|
Net Change
|
Last
Traded
|
$ Range
|
|
2019/06/14
|
433,683
|
912,430
|
407,032
|
0.50*1
|
0.50 -
0.56
|
|
2019/05/31
|
26,651
|
420,689
|
6,356
|
0.58
|
0.57 -
0.65
|
|
2019/05/14
|
20,295
|
342,400
|
6,443
|
0.65
|
0.65 -
0.70
|
|
2019/04/30
|
13,852
|
576,729
|
-6,648
|
0.68
|
0.62 -
0.70
|
|
2019/04/15
|
20,500
|
252,398
|
16,997
|
0.63
|
0.63 -
0.67
|
|
*1 Closing price used
is the last non-zero. Source: TSX
|
"CIBT is proud to have been in business for over 25 years and
seen substantial growth in operations over that time," said
Toby Chu, CIBT's Chairman, President
and Chief Executive Officer. "Our growth from a start-up in 1994 to
nearly $75 million revenue with net
income of $45 million in fiscal 2018
was through hard work and dedication of our committed staffs and
loyal shareholders. In addition to fundamental performance,
the Company and its subsidiary limited partnerships have completed
multiple growth financings and most recently closed $12 million of investment, with another
$11 million in financings committed
by the subsidiary limited partnerships."
"Given our track record of being a responsible borrower, we have
also had the privilege of transacting over $300 million in real estate financing through
commercial lenders during the past four years," continued
Toby Chu. "While the Company is
under normal operation and continues to grow, and the management
has full confidence in the future development of the Company, it is
unfortunate that a few opportunistic short-sellers are eager to see
a lower stock price to benefit themselves. The management believes
that the Company's shares are grossly undervalued at the current
price level, the Company will defend its position vigorously and
demonstrate the management's confidence to the prospects of the
Company by increasing its share buy-back efforts."
About CIBT Education Group:
CIBT Education Group Inc.
is one of the largest education, and student housing investment
companies in Canada focused on the
global education market since 1994. Listed on the Toronto
Stock Exchange and U.S OTCQX International, CIBT owns business and
language colleges, student housing properties, recruitment centers
and corporate offices at 45 locations in Canada and abroad. Total annual
enrollment for the group exceeds 12,000 students. Its
education providers include Sprott Shaw
College (established in 1903), Sprott Shaw Language College,
Vancouver International College and
CIBT School of Business. Through these schools, CIBT offers
business and management programs in healthcare, hotel management,
language training, and over 150 career, language, and vocational
programs. CIBT owns Global Education City Holdings Inc.
("Global Education"), an investment holding and development company
focused on developing education related real estate such as student
hotels, serviced apartments and education centers. Total
portfolio and development budget of projects under Global
Education's GEC® brand is more than C$1
billion. CIBT also owns Global Education Alliance
("GEA") and Irix Design Group ("Irix Design"). GEA recruits
international students on behalf of many elite kindergartens,
primary and secondary schools, colleges and universities in North
America. Irix Design is a leading design and advertising
company based in Vancouver,
Canada. Visit us online and watch our corporate video at
www.cibt.net.
SOURCE CIBT Education Group Inc.