AEC Education plc
("AEC" or "the Company")
Result of general meeting
Placing, Directors' Dealings and Notice of Interest
The Company announces that all resolutions put to shareholders at today's general meeting have been duly approved.
The Placing
The Company announces that it has raised, in aggregate, £1,050,596.04 through the placing of 8,754,967 new
ordinary shares of 10p each in the Company ("Ordinary Shares") at 12p per share (the "Placing"). The net proceeds
from the Placing, together with other sources of finance, will be used to finance potential acquisition
opportunities.
Application has been made for 8,754,967 Ordinary Shares to be admitted to trading on AIM and dealings are expected
to commence on 17 March, 2009 ("Admission"). On Admission, the Company will have 26,763,705 Ordinary Shares in
issue.
Directors' Dealings and Notice of Interest
Pursuant to the Placing, the Company can confirm the following interests in Ordinary Shares:
| Name |
Ordinary Shares
acquired in the
Placing |
New
shareholding |
Percentage of
the enlarged
share capital |
| Director |
|
|
|
| KSP Investments Pte Ltd (1) |
2,486,300 |
7,802,348 |
29.15% |
| Liam Swords |
1,000,000 |
1,000,000 |
3.74% |
| Ramasamy Jayapal |
59,084 |
633,131 |
2.37% |
|
|
|
|
| Investor |
|
|
|
Education Development
International plc |
1,000,000 |
3,000,000 |
11.21% |
| Real Time Consultancy Ltd |
1,106,250 |
1,450,000 |
5.42% |
(1) David Ho and Gopinath Pillai, both directors of the Company, hold 44% and 19.5%, respectively,
of KSP Investments Pte Ltd.
For further information, please contact:
AEC Education plc
Liam Swords
Office:  +44 (0) 20 8308 1202
Mobile: +44 (0) 7775 787 427
W H Ireland Ltd
David Youngman / Adrian Kirk
Office: +44 (0)161 832 2174
|