Trading Update

RNS Number : 2298L

Malvern International PLC

29 April 2020

 

29 April 2020

MALVERN INTERNATIONAL PLC

("Malvern" or the "Company")

(AIM: MLVN)

Trading Update

As has previously been announced, all of Malvern UK learning centres are currently closed as is its school in Singapore. While some teaching has been successfully moved online, the Company has experienced a very significant drop in revenue and cash inflow. As there is no certainty as to when and how COVID restrictions will be lifted or how quickly trading activity will be able to resume, there is considerable uncertainty as to the Company's prospects. It is currently anticipated that the Company's existing working capital facilities will be exhausted by the end of May. The Company is in discussion with its existing major shareholders and debt providers regarding the raising of additional funding.

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		0207 220 1666
Media enquiries
Communications Portfolio	[e-mail]
Ariane Comstive	[phone]

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 .

 

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