BExcellent Group acquires for 30.0% equity of a local overseas education consultant company
Cooperation with industry expert to deepen oversea education businessHONG KONG SAR – Media OutReach – 31 March 2023 – “Glocal Education Services Centre” (GES), and “Academic Advisers”, which are owned by BExcellent Group Holdings (“BExcellent Group” or the “Company”, together with its subsidiaries, the “Group”; stock code: 1775), have officially launched a merger plan with “LINKEDU”, one of the experts in overseas education consulting services.
It is anticipated that this merger will integrate the strengths of the three companies to create a greater team of overseas education advisers, covering both secondary schools and universities, combining resources, expertise and experience of the three teams to provide students and parents with more comprehensive and caring one-stop study advisory services.
The total amount of the consideration for the acquisition is approximately HK$9.18 million, which includes HK$1.05 million being payable in cash upon completion. After the completion date, another HK$2.92 million will be settled by the allotment and issue of approximately 3.65 million Consideration Shares under the General Mandate at the issue price of HK$0.80 per Consideration Share, representing approximately 0.72% of the number of issued Shares. The balance of the consideration, being HK$5.21 million, is payable by the transfer of shares in GES and Academic Advisers, in return for 90,000 new Target Shares to be allotted and issued by “LINKEDU”.
With the extensive network and resources of Beacon Group, the parent company of GES which is an indirectly wholly-owned subsidiary of the BExcellent Group, GES has been committed to provide consulting services under career-oriented approaches to students who are interested in the professional disciplines, especially in health sciences and medicine, so as to provide them with the latest academic and industry information. Also, GES provides different internship programmes to allow students understand their suitability to specific disciplines and help to fulfill their dream of overseas studies.
GES has partnered with Academic Advisers for years to provide overseas education consultancy services. Academic Advisers specializes in consultancy services on overseas secondary boarding school and its network of schools covers the United States, the United Kingdom, Australia, New Zealand, Canada and other popular oversea study areas. Also, Academic Advisers works with the local schools to arrange short-term study programs for the students to experience.
As for LINKEDU, it is a specialist in international education in the United Kingdom and Australia. Its services range from different preliminary work, including school selection, admission application, interviews, visas, accommodation and air ticket booking, to follow-up and support services after admission and up to graduation.
Ms. Leung Ho Ki, June, Chairman of the Group, said, “With the addition of LINKEDU to the BExcellent Group, the business will complement GES and Academic Advisers and the services will range from secondary boarding schools to universities and up to the future career consulting services. We will provide students with one-stop overseas education consultancy services. No matter which country the students intend to study in, we will join hands with them to help them realize their dreams.”
The issuer is solely responsible for the content of this announcement.
BExcellent Group Holdings Limited
BExcellent Group Holdings Limited (“BExcellent Group”) is a leading provider of private supplementary secondary school education services in Hong Kong, particularly in providing private supplementary secondary school education services and a series of ancillary education services and products, and operating private secondary day schools in Hong Kong. The education brands of the Group include “Beacon College”, “Beacon Day School”, and “Beacon Childhood”, etc. Furthermore, the Group has developed international education services for schools and has successfully commenced education programme in the Greater Bay Area. As at 31 January 2023, the Group operated 10 teaching centres, with a total of 80 classrooms, which, in accordance with the EDB’s guidelines, allow a maximum classroom capacity of 2,273 students to attend class at any one time.