Sale of Malaysian Business

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		[phone]
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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