APPOINTMENT OF CDO & GRANT OF EMI OPTIONS

Malvern International plc (AIM: MLVN), the global learning and skills development partner, is pleased to announce the non-board appointment of Stephen Harvey as Chief Development Officer with responsibility for growing its global network of University and Higher Education partnerships. The Company also announces the grant of options to certain employees, pursuant to the Company’s EMI share option scheme (the “EMI Options”).

Stephen Harvey has 40 years’ experience in the global education sector. He has held a number of senior positions across policy, governance and teaching including: Non-Executive Director at Sannam S4;  Founder and Global Managing Director of Cambridge Education Group’s ONCAMPUS Higher Education Pathways Division; Head of Higher Education Advisory Services at KPMG UK; Project Manager, UK Government Department for Education Strategy & Innovation Unit; and UK Managing Director of Study Group. Steve is currently a Trustee of Cumberland Lodge.

Steve has also held the positions of: joint Director of a University Business School; Principal Lecturer, Head of Department in Accounting & Finance; and Director of the International Office at two UK Universities. 

Richard Mace, Chief Executive Officer, said: I am extremely pleased to welcome Stephen to Malvern. As a leading authority in our industry, Steve’s extensive experience and network will be invaluable to next stage of Malvern’s development as we look to expand our university partnerships.

Stephen Harvey, Chief Development Officer, said: I am delighted and honoured to be joining Malvern at such an exciting time it its development – we are looking forward to building upon our considerable achievements to date. As the new Chief Development Officer, I am committed to fostering high academic quality, innovation and growth – turning our considerable opportunities into realities – and working with our growing world-class team to deliver sector-leading outcomes in partnership with the world’s leading Universities.

Grant of EMI Options

The Company has granted 287,500 EMI Options to certain employees pursuant to the Company’s EMI share option scheme. 100,000 of these EMI Options are being awarded to Stephen Harvey as part of his service agreement and incentive plan.

The EMI Options will vest after three years once defined share price levels have been attained for 40 consecutive business days. Half of the individual EMI Options awards will vest when the mid-market share price of the Company reaches 115 pence and the remaining half will vest when the mid-market share price of the Company reaches 150 pence. The exercise price of the new EMI Options is 23.5 pence each, being the closing mid-market price on 14 November 2023.