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TCG Holdings, Inc (“TCG”, or the “Company”) is a Philippine holding company with interests in food service and manufacturing, hotel operations and education. TCG is undertaking an expansion of its education business line, in particular the Asian School of Hospitality Arts (“ASHA”), operated by the Center for Hospitality Arts Management Philippines (“CHAMP”). ASHA is a chain of education and training schools focused on the hospitality industry, specifically training for “front-of-the-house” staff for hotels, restaurants, resorts, and other tourism industry service providers. ASHA offers bachelors’ degree (Bachelor of Science in Hotel and Restaurant Management), diploma (Diploma in Hospitality Management), certificate (Certificate in Hotel and Restaurant Operations), and short courses under a flexible modular or “ladderized” approach. ASHA is undertaking the expansion of two existing school facilities in Antipolo and Quezon City, and the establishment of four new campuses in Pampanga, Naga, Cebu and Taguig (the “Project”). The expansion will increase ASHA’s student capacity by 5,000 students from the current 1,410 students, and will require around 300 additional employees for the six locations.