Malvern International plc (AIM: MLVN), provider of educational services in the UK and Asia, is pleased to announce that it has today entered into a Sale and Purchase Agreement with the Institute of Singapore Chartered Accountants (“ISCA”) to acquire the entire issued share capital of SAA Global Education Centre Pte. Ltd. (“SAA-GE”) for a total consideration of Singapore Dollars (SGD) $500,000 to be satisfied by the issue of 5,630,350 new ordinary shares of 5p each in Malvern. Completion of the Sale and Purchase Agreement is expected to take place on 7 November 2017.
Mr Gopinath Pillai, the Chairman of Malvern Group said:
“We are delighted to have SAA-GE join the Malvern Group. This acquisition is in line with Malvern’s international strategy announced in June 2017 and that is to focus its brand on a few key development skills, one of which is accounting and finance education. Looking forward we are both confident and excited at the opportunityies this acquisition will bring.”
This acquisition will provide Malvern with fresh opportunities to reach and work with the large local partners, with a substantial student base of more than 1000 SAA-GE students and provide access to its highly qualified trainers and lecturers. It will also broaden and strengthen Malvern’s platform as an international hub for accountancy and finance education, adding to the existing/upcoming offerings in Malaysia and London.