CIBT Education Group Inc. Reports Director Election Results

Rhea-AI Summary

CIBT Education Group Inc. (TSX:MBA, OTCQX:MBAIF) announced the results of its annual general meeting held on February 10, 2023. All director nominees received significant support from shareholders, with Morris Chen and Tony David receiving 99.76% of votes in favor. Notably, Toby Chu garnered 90.83% support. This successful election reflects strong investor confidence in CIBT's leadership. The company, a major player in the education sector since 1994, operates numerous educational institutions and real estate investments focused on student housing. CIBT serviced over 10,000 students in 2022 and boasts a development budget nearing $1.3 billion.

Positive

• All director nominees were elected with high support percentages, indicating strong investor confidence.
• CIBT serviced over 10,000 domestic and international students in 2022, showcasing its market presence.
• CIBT's total portfolio and development budget under the GEC brand is approximately $1.3 billion.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / February 10, 2023 / CIBT Education Group Inc. (TSX:MBA)(OTCQX:MBAIF) ("CIBT") reports the director election voting results from its annual general meeting held today. All of the director nominees, as listed in the management information circular dated January 3, 2023, were elected. Proxy voting as to each of the director nominees was as follows:

	Votes in Favour	Votes Withheld
Morris Chen	99.76%	0.24%
Toby Chu	90.83%	9.17%
Tony David	99.76%	0.24%
Derek Feng	99.76%	0.24%
May Hsu	99.76%	0.24%
Troy Rice	99.76%	0.24%
Shane Weir	99.78%	0.22%

Please see the report of voting results filed today under CIBT's profile on SEDAR for the results of the other matters voted on by shareholders at the meeting.

About CIBT Education Group:

CIBT Education Group Inc. is one of Canada's largest education and student housing investment companies focused on the domestic and global education market since 1994. CIBT owns business and language colleges, student-centric rental apartments, recruitment centres and corporate offices at 41 locations in Canada and abroad. Its education subsidiaries include Sprott Shaw College Corp. ("SSCC") (established in 1903), Sprott Shaw Language College ("SSLC"), Vancouver International College Career Campus ("VIC") and CIBT School of Business & Technology Corp. ("CIBT China"). CIBT offers over 150 educational programs in healthcare, business management, e-commerce, cyber-security, hotel management, and language training through these schools. In 2022, CIBT serviced over 10,000 domestic and international students through its educational and rental housing subsidiaries.

CIBT owns Global Education City Holdings Inc. ("GECH"), an investment holding and development Company focused on education-related real estate such as student-centric rental apartments, a hotel and education super-centres. Under the GEC^® brand, GECH provides accommodation services to 90 schools in Metro Vancouver, serving 3,000 students from 71 countries. The total portfolio and development budget under the GEC^® brand near $1.3 billion.

CIBT also owns Global Education Alliance Inc. ("GEA") and Irix Design Group Inc. ("IRIX"). GEA recruits international students for 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.

For more information, contact:

Toby Chu
Chairman, President & CEO
CIBT Education Group, Inc.

Investor Relations Contact: 1-604-871-9909 extension 318 or | Email: info@cibt.net

SOURCE: CIBT Education Group Inc.

View source version on accesswire.com:
https://www.accesswire.com/738986/CIBT-Education-Group-Inc-Reports-Director-Election-Results

FAQ

What were the results of CIBT's annual general meeting held on February 10, 2023?

All director nominees were elected, with high support percentages, reflecting strong investor confidence.

What percentage of votes did Morris Chen receive in the director election?

Morris Chen received 99.76% of votes in favor.

How many students did CIBT serve in 2022?

CIBT serviced over 10,000 domestic and international students in 2022.

What is CIBT's total portfolio development budget?

CIBT's total portfolio and development budget is nearly $1.3 billion.