2012-09-27 14:06:26 -
Access Announces the Completion of Renovations and Grand Opening of First JV International School in Zengcheng, Guangdong, Prc.
Calgary, Alberta CANADA, September 27, 2012 /FSC/ - Access International Education Ltd. (AOE - TSX Venture),
The Company wishes to announce the completion of renovations and the grand opening of the international division in one of the many schools owned by JV partner, Heshun Education Development Co. Ltd of Guangzhou ("Heshun") in Guangdong, namely Tian An Private School of Zengcheng, Guangdong("Tian An
Tian An is one of the many private schools owned by Heshun in the Guangdong area. The school has been in operation for 14 years and has been catering to students from Grade 1 to Grade 12 under the Chinese curriculum
and education system.
Currently there are over 700 students enrolled in Tian An paying an annual tuition fee of Yuan 16,000 RMB($2,580 CAD). The objective of the Cooperative Agreement signed in March this year, was to eventually move all or most of these students from the current Chinese curriculum and education system into our newly formed International Division called Zengcheng Access International School, where dual language teaching and curriculum will take place. This is to emerge over the next three to four years period. Access will be responsible for the administration, management, teacher recruitment and curriculum preparation and presentation under a more westernized environment. The new annual tuition fees for students studying at the International Division will be Yuan 55,000 RMB ($8,880 CAD) of which Access and Heshun will split the new tuitions under a 45/55 ratio for a period of 30 years from the date of signing of this Agreement.
Heshun will be responsible for the provision of the existing school licensing, school land, building and facilities as well as the upgrading of all existing facilities to an international standard including the building of a new swimming pool, library and cafeteria over the next three years. Access will be further responsible for the interior design, decorations, equipment and furnishings to our recognized Canadian school standards for the first four classrooms and twelve bedrooms for students in the new international division of the school.
Both parties have done their utmost to have new International Division ready for operations for test classes before April 30, 2012 and summer camp before June 30, 2012 of which both have been very successful. Full fall term of studies started on September 1, 2012 with enrolment of over 80 students so far for the first term.
The Company continues to enjoy success with its operations and enrolment at the Canadian International School in Yantai, Shandong of which the student population has increased from 43 in September to 94 as of date. Full capacity is still aimed at 450 students over the next three years.
Management will use the success model of these two schools to duplicate at different cities with various school operators as part of our expansion plan for the provision of international and modern westernized education across China.
For and On Behalf of
Access International Education Ltd.
President & CEO
Access International Education Ltd.
100, B1 - 2451 Dieppe Ave., S.W.
Calgary, AB Canada T3E 7K1
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Source: Access International Education Ltd. (TSXV AOE) www.accesscollege.cc
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