Regulatory Story
Go to market news section View chart   Print
RNS
Malvern International PLC   -  MLVN   

Sale of Malaysian Business

Released 12:39 23-Dec-2019

RNS Number : 8587X
Malvern International PLC
23 December 2019
 

 

 

 

 

23 December 2019

 

 

MALVERN INTERNATIONAL PLC

("Malvern" or the "Company")

 

Sale of Malaysian business

Malvern International plc (AIM: MLVN), the global learning and skills development partner, announces the sale of its Malaysian business, which offers local diploma, vocational and professional courses, to AAA Management Science Academy PLT for a total cash consideration of MYR 400,000 (approximately £75,000).

The cash consideration will be payable over a 13 month period and will be used towards the repayment of an existing bank loan in Malaysia. The proposed transaction is expected to complete on 31 December 2019.

In the year to 31 December 2018, Malvern's Malaysian business reported revenues of MYR 5.1 million and a loss before tax of MYR 1.7 million.

Sam Malafeh, CEO of Malvern, said: "We are pleased to have agreed the sale of the Malaysian business, which will now allow us to focus on growing our core operations in the UK and Singapore."

 

For further information please contact:

 


Malvern International Plc

www.malverninternational.com

Dr Sam Malafeh - Chief Executive Officer

Via Communications Portfolio



WH Ireland (NOMAD & Broker)

www.whirelandcb.com

Mike Coe / Chris Savidge

+44 117 945 3470



Media enquiries


Communications Portfolio

ariane@communications-portfolio.co.uk

Ariane Comstive

+44 7785 922 354

 

Notes to Editors:

 

Malvern International is a global learning and skills development partner preparing students and learners to meet the demands of a professional life.  Courses are delivered on sites in London, Manchester, Singapore, and Malaysia, with the option of studying across multiple campuses over the duration of the same course, and online through the Malvern Online Academy.

 

Courses include:

·     Higher Education: Diploma, University degree and post-graduate programs;

·     Pathway: pre-University programs;

·     Professional: Professional examinations preparation e.g. ACCA, and corporate training;

·     Junior: Tuition services for secondary school students; and

·     Language: English language teaching.

 

Established in the 1980s and admitted to AIM in 2004, Malvern employs approximately 250 people and delivers a wide range of courses.  Malvern's growth strategy is driven by organic growth initiatives complemented by strategic acquisitions.

 

For further investor information go to www.malverninternational.com.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
DISBDBDDLXDBGCX
Close


London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.

 


Sale of Malaysian Business - RNS