28 May 2012 10:41
China Private Equity Investment Holdings Limited
("China Private Equity" or "the Company")
Key strategic co-operation deal with China's Hunan Education Project
28th May 2012: The AIM-quoted investment group China Private Equity Investments Holdings Limited (ticker: CPEH) today announced that a company in which it holds a 40% stake has significantly expanded its presence in China's booming online education market.
China iEducation Group has signed a key strategic co-operation agreement with the State-run Hunan Centre of Educational Technology (HCET) in China's Hunan Province. The deal brings annual licence fees and a brand-building relationship.
It also means China iEducation has become one of the largest suppliers of online educational content and software for HCET's RMB10 billion (about £1 billion) Modern Distance Education Project for Rural Elementary and Secondary Schools.
More than 26,000 primary and middle schools, often in remote rural areas, will gain access to the China iEducation educational networking website www.chinaschool.net. The site delivers a wide range of educational resources and communication services for primary and middle school teachers to help address educational shortcomings outside urban areas.
The schools are participants in the Hunan Education Project, set up in 2003 and run by HCET. The project aims to exploit available IT advances to maximise the educational opportunities for the Province's schoolchildren. It has already seen the introduction of satellite communication links and computer rooms in schools.
China Private Equity CEO John Croft said: "This important agreement is significant not only because it will generate new revenues for China iEducation but also because HCET has undertaken to support the introduction of its products into the Hunan Education Project. As such, it is an important step towards further establishing the brand in a wider, booming education marketplace, where China iEducation is already reaching three million teachers and thirty million children".
China Private Equity seeks to invest in opportunities like China iEducation that provide exposure to Chinese growth in the TMT, financial services and educational sectors, aiming to take advantage of the rapid development currently underway.
For further information, please visit www.cpe-invest.com or contact:
China Private Equity Investment Holdings Limited Maria Leung, Corporate Communications Manager | +852 2801 6770 |
Smith & Williamson Corporate Finance Limited | |
(Nominated adviser and broker) | |
Dr. Azhic Basirov / Siobhan Sergeant
| +44 (0) 20 7131 4000 |
First City Public Relations Allan Piper Simon Hudson |
+852 2854 2666 +44 (0)20 7920 3150 |