AEC Education plc
Issue of equity
The Company is pleased to announce that AEC Bilingual Pte Ltd (formerly known as AASM School of Management Pte Ltd) has achieved the profit targets that were set at the time of the acquisition by AEC of 51% of the shares in the company, in June 2007. AEC has therefore issued a further 498,946 new ordinary shares of 10p each in the Company (“Ordinary Shares”) to the vendors of AEC Bilingual Pte Ltd, being the balance of the consideration due.
AEC Bilingual Pte Ltd is a private education provider based in Singapore which recruits students from China for its Business Management and Logistics programme. It has operations in Shenzhen and Changchun in China which are focused on student recruitment, adult education and placement and advisory services.
Application has been made for 498,946 new Ordinary Shares to be admitted to trading on AIM and dealings are anticipated to commence on 15 October, 2009. Following this issue, the Company’s total number of issued Ordinary Shares will be 43,223,781.
For further information please visit www.malverninternational.com or enquire to:
AEC Education plc Liam Swords Office: +44 (0) 20 8308 1202 Mobile: +44 (0) 7775 787 427 WH Ireland Limited (NOMAD & Broker) Adrian Kirk +44 (0)161 832 2174 Stuart Forshaw Biddicks Katie Tzouliadis +44 (0) 207 448 1000 Sophie Lane