Under the terms of the agreement, within 17 months following CFSI's acquisition of control of the bank, and subject to compliance with applicable legal requirements, CFSI will acquire 100 percent of the common stock of the bank, and purchase the outstanding shares of APFG
preferred stock for either cash or shares of common stock.
Professor Helen Siu Yi Ku-yu, Honorary Secretary of the APFG
, said: "This is the first time that the conference will take place in the Middle East, and it is fantastic to see that the conference's success has grown to encompass such an emerging educational market.
Mike Hancock, Liberal Democrat MP for Portsmouth South and a member of the APFG
, said: "An inquiry will be welcome, but it has to have real teeth.