Investment Update

RNS Number : 6354Z

Worldsec Ld

12 December 2014

 



12 December 2014

Worldsec Limited (the "Company", and together with its subsidiaries, the "Group")

Investment Update

Further to the Company's announcement on 28 November 2014, the board of directors of the Company is pleased to announce that the Group has made an investment of HK$4 million, by way of capital contribution of HK$2 million and shareholder's loan of HK$2 million, for a 50 percent interest in Oasis Education Group Limited ("Oasis HK", and together with its subsidiaries, the "Oasis Group"). Oasis HK is a start-up company incorporated in the Hong Kong Special Administrative Region, the People's Republic of China (the "PRC"). Its principal business involve, through a wholly-owned subsidiary newly established in the Qianhai economic zone in Shenzhen, the PRC, Oasis Education Consulting Shenzhen Co., Ltd. ("Oasis Shenzhen"), the provision of education consulting and supporting services to kindergartens in China. The first such kindergarten to be serviced will be located in Huizhou City of Guangdong Province of the PRC with facilities designed to cater for 300 pupils (the "Huizhou Kindergarten"). The service agreement between Oasis Shenzhen and the Huizhou Kindergarten, which is expected to commence classes in January 2015, will run until the end of 2033. It is the longer term corporate objective of Oasis HK to develop and expand the education consulting and supporting services of the Oasis Group to cover a network of kindergartens in China.   

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